Stock market sees early gains on week's final trading day

Dhaka, 16 Jan - The majority of companies witnessed a rise in share prices during the first hour of trading on the week’s final business day.

Alongside the price increases, the benchmark indices also saw a positive movement.

On Thursday, trading at the Dhaka Stock Exchange (DSE) began with 196 companies registering gains, while 78 saw declines, and 79 remained unchanged in price.

The DSEX, DSE's benchmark index, increased by 7 points, and the Shariah-based DSES index rose by 1 point. However, the DS30 index, which tracks blue-chip stocks, dropped by 2 points.

During the initial hour, a total of 3,32,089 shares changed hands through 3.85 lakh transactions, amounting to Tk 89 crore in turnover.

In an additional development, the DSE downgraded C&A Textiles to the Z category from the B category at the start of the day.

Merchant banks and brokerage houses have been instructed not to provide loans for purchasing shares of this company.

The Chittagong Stock Exchange (CSE) also observed gains in its indices during the early hours. The CSCX index rose by 8 points, with 33 companies recording price increases, 29 experiencing declines, and 11 remaining stable.

The early market trends indicate a mix of optimism and caution as investors navigate the trading landscape.