Price hikes of large-cap stocks help market to open higher

Stocks witnessed a positive trend in the early hours of trading on Sunday as bargain hunters favoured taking positions in lucrative issues in anticipation of a potential turnaround. Price hikes of large-cap stocks such as BAT Bangladesh, GP, Power Grid, Square Pharma and Walton helped the market to open higher as they jointly contributed almost 40 points rise of the key index. Accordingly, DSEX, the prime index of the Dhaka Stock Exchange (DSE), gained more than 70 points to 5,588 after two hours of trading at 12:00 noon, when the report was filed. Institutional buying support has added strength to the equity indices despite overall market sentiment still remaining subdued. The blue-chip index DS30, a group of 30 prominent companies, advanced 22 points to 1996 while the DSES Index, which represents Shariah-based companies, gained 13 points to 1,230 till then. Turnover, a crucial indicator of the market, remained low and amounted to Tk 3.36 billion after the first two hours of trading. Of the issues traded, 271 advanced, 64 declined and 53 remained unchanged till then. The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI –gaining 111 points to 15,926, also at 12:00 noon. [email protected]
Published on: 2024-04-28 09:21:49.553603 +0200 CEST