Stocks post modest gains at open

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Stocks posted marginal gains in early trading on Tuesday as some investors went bargain-hunting on lucrative issues.

After yesterday’s modest gain, DSEX, the main index of the Dhaka Stock Exchange (DSE), rose 18.05 points or 0.28% to 6,338, after the first hour of trading. at 11:00 a.m.

Two other DSE indices have also seen a marginal gain so far with the DS30 index, comprised of blue chips, gaining 6.2 points to hit 2,291 and the Shariah index (DSES) advancing 3.25 points to 1 384.

Turnover, another important indicator of the market, stood at 1.74 billion taka as of 11:00 am.

Market analysts said bargain hunters cautiously put their money into selective stocks as they found issues at lucrative prices.

However, many investors have remained unsettled amid the rising cost of living due to soaring inflation and rising virus cases in recent weeks, they said.

Of the issues traded so far, 228 advanced, 85 declined and 62 issues remained unchanged on the DSE trading floor.

Shinepukur Ceramics was the most traded stock until this report was filed with shares worth Tk 166 million changing hands, followed by Fu-Wang Food, Monno Fabrics, Fortune Shoes and Yeakin Polymer.

The Chittagong Stock Exchange also opened slightly higher with its All Stock Price Index (CASPI) – gaining 3.50 points to settle at 18,620 while the Selective Categories Index – CSCX – rose 2 .36 points to reach 11,161, also at 11:00 a.m.

Of the issues traded so far, 84 advanced, 66 declined and 29 remained unchanged at 39 million taka.

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