Written by The Banking Post
Stocks opened higher on Sunday as investors picked up undervalued blue-chip shares, shrugging off the impact of a sharp hike in fuel prices.
The benchmark index of the Dhaka Stock Exchange rose over 23 points, or 0.36%, to 5,276 in early trading. The DS30 index gained 7 points to 1,996, while the Shariah-based DSES index added 4 points to 1,069.
The uptick came despite the government raising fuel prices overnight, with diesel up Tk 15 per litre, octane Tk 20, petrol Tk 19 and kerosene Tk 18—moves expected to push up production and transport costs across the economy.
Analysts said opportunistic investors engaged in bargain hunting while keeping a close watch on geopolitical tensions, particularly uncertainties surrounding the Strait of Hormuz and their potential impact on global energy markets.
However, overall market participation remained subdued. Turnover stood at Tk 2.37 billion, reflecting cautious sentiment amid concerns over fuel-driven inflation and policy uncertainties.
Market breadth was positive, with 208 stocks advancing, 89 declining and 87 remaining unchanged.
Runner Automobiles led the turnover chart, followed by City Bank, Golden Son, Acme Pesticides and Legacy Footwear.
The Chittagong Stock Exchange also posted gains, with its All Shares Price Index rising 22 points to 14,784, while the CSCX index advanced over 15 points.
Despite the early gains, analysts said sustained momentum will depend on clarity over fuel prices, inflation trends and external risks.
