Stocks opened modestly higher on Monday as investors picked up recently beaten-down shares at relatively attractive prices, although trading remained cautious amid concerns over the latest fuel price hike.
The broad-based DSEX gained 10 points, or 0.18 per cent, to 5,543 by 11:00 am, as buying interest emerged in selected issues.
The market stayed positive despite the government’s latest increase in fuel prices. Meanwhile, falling global oil prices provided some relief, potentially limiting the impact of higher domestic fuel costs.
The blue-chip DS30 index advanced 1 point to 2,099, while the DSES index, which tracks Shariah-compliant stocks, gained 3 points to 1,106.
Market breadth remained positive, with 198 issues advancing, 105 declining and 81 remaining unchanged on the Dhaka Stock Exchange (DSE).
Turnover stood at Tk 2.0 billion in the first hour, suggesting continued caution among investors.
Orion Infusion topped the turnover chart, with shares worth Tk 75 million changing hands during the period.
The Chittagong Stock Exchange (CSE) also opened higher. Its All Share Price Index (CASPI) gained 6 points to 14,789, while the CSE Selective Categories Index (CSCX) rose 10 points to 9,067.
Source: The Business Standard
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