Written by The Banking Post
Stocks opened higher on Monday as investors returned to the market, snapping up undervalued blue-chip shares following the recent downturn.
Market analysts said opportunistic investors drove the early gains through selective bargain hunting, while remaining cautious amid ongoing geopolitical tensions in the Middle East. Some investors also adjusted their portfolios in response to recent corporate earnings disclosures.
The benchmark index of the Dhaka Stock Exchange (DSE) rose over 23 points, or 0.45 per cent, to reach 5,288 by 11:00am.
The blue-chip DS30 index edged up by 4 points to 2,023, while the Shariah-based DSES index gained 6 points to 1,056.
Market activity remained steady, with turnover standing at Tk 2.91 billion during the period.
Gainers dominated the trading floor, with 244 issues advancing, 76 declining, and 66 remaining unchanged.
Among individual stocks, City Bank led the turnover chart, followed by Tung Hai Knitting, NCC Bank, Eastern Bank, and Shepherd Industries.
The Chittagong Stock Exchange also mirrored the upbeat trend, with its CASPI index rising 30 points to 14,818, while the CSCX index advanced by more than 23 points to 9,109.
Despite the rebound, analysts say investors are likely to remain cautious in the near term, keeping a close watch on global developments and corporate earnings for clearer market direction.
