Retailers trade at Dhaka Stock Exchange office. BBN file photo

Dhaka, Bangladesh (BBN)– Bangladesh’s stocks witnessed sharp rise in early hour of trading on Sunday as investors are showing buying appetite on sector-wise stocks.

Analysts said investors continued their buying spree on stocks amid positive expectations as banks will bring down their interest rates to single digit from July 1.

Following the last week’s upward movement, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 32 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 45 points at 10:45am.

After 30 minutes of trading, the DSEX advanced more than 52 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 84 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 52.80 points or 0.97 percent to reach at 5,494 points at 11:00am.

The DS30 index, comprising blue chips, rose 21 points to reach at 2002 points.

The DSE Shariah Index index advanced 14 points to reach at 1,277 points till then.

Turnover, the important indicator of the market, stood at BDT 1.18 billion when the report was filed at 11:00am.
Of the issues traded till then, 161 advanced, 57 declined and 37 remained unchanged.

Monno Creamic was the most traded stocks till then with shares worth BDT 91 million changing hands, closely followed by Alif Industries BDT 61 million, Paramount Textile BDT 56 million, Queen South Textile BDT 53 million and Grameenphone BDT 52 million.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw upbeat trend till then with CSE All Share Price Index- CASPI-gaining 84 points to stand at 16,870, also at 11:00am.

The Selective Category Index – CSCX –also gained 50 points to stand at 10,206 points till then.

Of the issues traded till then, 48 gained, 28 declined and 14 issues remained unchanged with BDT 21 million in turnover.