Stocks up at opening amid cautious trading

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Stocks opened higher on Wednesday as bargain hunters continued to buy shares amid signs of an easing energy crisis in Bangladesh.

However, investors remained cautious as gas supplies to industries have yet to return to expected levels.

The benchmark DSEX index rose 14 points, or 0.27 per cent, to 5,487 by 11:00 am. The DS30 index, comprising blue-chip stocks, advanced 3 points to 2,090, while the DSES index, representing Shariah-compliant stocks, gained 4 points to 1,098.

Market breadth was positive, with 187 issues advancing against 108 declining, while 88 remained unchanged on the DSE.

Turnover, however, remained subdued at Tk 1.61 billion during the first hour of trading.

Sharp Industries emerged as the most-traded stock, with shares worth Tk 69 million changing hands during the period.

The Chittagong Stock Exchange (CSE) also opened higher, with its All Share Price Index (CASPI) gaining 6 points to 14,606. The CSE Selective Categories Index (CSCX) rose 2 points to 8,937.

Source: The Business Standard