Written by The Banking Post
Stocks opened higher on Tuesday, snapping a two-day losing streak as investors moved to pick up undervalued blue-chip shares.
The benchmark index of the Dhaka Stock Exchange rose more than 28 points, or 0.54%, to 5,261 in early trading. The DS30 index gained 4 points to 1,984, while the Shariah-based DSES index advanced 5 points to 1,064.
Analysts said opportunistic investors returned to the market, engaging in bargain hunting after the recent decline. However, overall sentiment remained cautious amid ongoing Middle East tensions, fuel price uncertainties and concerns over fiscal tightening measures.
Turnover stayed modest at Tk 2.63 billion, reflecting limited participation despite the rebound.
Market breadth was strongly positive, with 259 stocks advancing, 60 declining and 66 remaining unchanged.
City Bank led the turnover chart, followed by Apex Spinning and Acme Pesticides.
The Chittagong Stock Exchange also posted gains, with its All Shares Price Index rising 22 points to 14,746 and the CSCX index climbing more than 15 points.
Analysts said the market’s near-term direction will depend on easing external risks and improved investor confidence, as caution continues to weigh on trading activity.
