Dhaka, Bangladesh (BBN) – Bangladesh’s stocks turned into positive trend at midday on Tuesday as some optimistic investors went on buying spree on sector specific stocks.
Market insiders said a section of the investors remained cautious following the central bank’s concern over the recent bullish momentum in the capital market, while some took position on stocks that disclosed healthy quarterly earnings.
After 6 minutes of trading, the key index of the DSE rose 23 points, but next 10 minutes it lost 16.50 points.
After 30 minutes of trading, the key index of the DSE recovered the losses and a gained 40.03 points while the Selective Category Index of the port city bourse rose 60.95 points at 11:00am.
At 12:00 noon, DSEX advanced 29.02 points while the Selective Category Index of port city bourse advanced 44.77 points when the report was filed.
After one and a half hours of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE) stands at 5,450.22 points, advancing 29.02 points or 0.53 percent when the report was filing at 12:00 noon.
The two other indices also saw positive trend till then. The DS30 index, comprising blue chips advanced 8.63 points or 0.44 percent to reach at 1987.09 points at 12:00 noon.
The DSE Shariah Index (DSES) gained 7.45 points or 0.59 percent to reach at 1,267.51 points.
Turnover, the crucial indicator of the market, stands at BDT 4.04 billion when the report was filed at 12:00 noon riding on Olympic Industries and Islami Bank.
Of the issues traded till then, 200 advanced, 85 declined and 28 issues remained unchanged on the DSE trading floor.
Olympic Industries dominated the turnover chart with shares worth BDT 192 million changing hands till then, closely followed by Islami Bank BDT 175 million, Doreen Power BDT 164 million, RSRM BDT 143 million and Beximco BDT 129 million.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till 12:00 noon as its Selective Category Index – CSCX –advancing 44.77 points to stand at 10,227.32 points, also at 12:00 noon.
Of the issues traded till then, 120 gained, 66 declined and 21 issues remained unchanged with BDT 177 million in turnover.