Stocks open higher after seven-day fall

Stocks opened higher on Thursday as buoyant investors put fresh bets on lucrative stocks after a week-long correction.

Analysts said the market witnessed major corrections throughout the week, losing 222 points, which encouraged investors to take position on lucrative shares.

Besides, the improving macroeconomic factors, supported by healthy foreign exchange reserves, rising exports, and record remittance inflows have boosted investors sentiment.

Following the previous seven days’ fall, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 55 points or 1.04 per cent to 5,369 at 11:00 am, when the report was filed at 11:00 am.

The DS30 index, a group of 30 prominent companies, also gained 26 points to 2,083 while the DSES index, which represents Shariah-based companies, rose 10 points to 1,166 till then.

Turnover, another important indicator of the market, also rose and stood at Tk 2.07 billion till then as many investors were not interested to put fresh funds into stocks amid optimism.

Of the issues traded till then, 297 advanced, 43 declined, and 46 issues remained unchanged on the DSE trading floor till then.

Orion Infusion was the most traded stock with shares worth Tk 178 million changing hands till then, followed by Bangladesh Shipping Corporation, and Rahima Food.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 4.0 points to 14,929 while the Selective Categories Index – CSCX rose more than 2.0 points to 9,159 till then.

babulfexpress@gmai.com