Stock market opens on a positive note, majority companies see gains

The Dhaka Stock Exchange (DSE)

Dhaka, Jan 15 - The Dhaka Stock Exchange (DSE) started Wednesday's trading session on a positive trajectory, with all three indices witnessing gains in the first hour.

Most listed companies experienced a rise in share prices during the early trading hours.

The DSE's benchmark index, DSEX, climbed by 15 points, while the DS-30, which tracks blue-chip companies, increased by 1 point.

The Shariah-compliant DSES index recorded a 4-point rise.

In the first hour, share prices of 235 companies advanced, while 48 declined, and 55 remained unchanged. Trading turnover crossed Tk 100 crore, with 3,91,094 shares exchanging hands 6.12 crore times, bringing the total turnover to Tk 117 crore.

Meanwhile, three companies—Sonali Life Insurance, Union Bank, and Sea Pearl Beach Resort—were downgraded from the 'A' category to the 'Z' category.

As per the DSE directive, brokerage houses and merchant banks have been instructed not to provide margin loans for these companies' shares.

The Chittagong Stock Exchange (CSE) also mirrored DSE's positive trend, with its CSE-30 index gaining 9 points in the first hour of trading. The total turnover at the CSE during this period stood at Tk 44 crore.

Investors are cautiously optimistic as both markets exhibit an upward trend in early trading, reflecting renewed confidence in the stock market.-UNB