Written by The Banking Post
Stocks opened higher on Tuesday, recovering from the previous session’s decline as bargain hunters returned to selective large-cap stocks following recent price corrections.
Investors showed renewed buying interest in fundamentally strong shares, particularly companies that recently disclosed quarterly earnings, helping the market regain some momentum.
The benchmark DSEX index of the Dhaka Stock Exchange rose more than 14 points, or 0.26 percent, to 5,217 by 11:00am.
The DS30 index, which tracks 30 blue-chip companies, gained 2 points to 1,971, while the DSES index, representing Shariah-based companies, advanced 3 points to 1,059.
However, market participation remained weak. Turnover on the DSE stood at Tk 1.70 billion during the first hour of trading, indicating continued investor caution despite the rebound.
Market breadth also remained mixed, with only 22 issues advancing against 100 decliners, while 80 stocks remained unchanged on the DSE trading floor.
Monno Ceramic emerged as the most traded stock in early trading, with shares worth Tk 115 million changing hands. It was followed by Asiatic Laboratories, VFS Thread Dyeing, Navana Pharma and Shinepukur Ceramic.
The Chittagong Stock Exchange also traded in positive territory. Its benchmark CASPI index gained 7 points to 14,630, while the CSCX index rose more than 5 points to 9,011 in early trading.
