Stocks open week on high note

Stocks opened higher on Sunday as investors continued their bargain hunting in some beaten- down issues, taking advantage of the recent correction in the market.FEMarket operators said the investors showed their buying interest on some selective stocks having lucrative prices with anticipation of quick gains.The recovery trend continued since investor confidence has started to rebound across the trading floor following the regulator’s assurance of not withdrawing the floor prices immediately.Following the previous week’s modest recovery, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 23 points to stand at 6,237, after the first hour of trading at 11:00amTwo other indices saw positive trends till then. The DS30 index, comprising blue chips, gained 6.54 points to 2,222 and the DSE Shariah Index (DSES) rose 4.98 points to 1,362.Turnover, another important indicator of the market, stood at Tk 1.59 billion after the first hour of trading at 11:00am.Of the issues traded till then, 125 advanced, 14 declined, and 115 issues remained unchanged on the DSE.ADN Telecom became the most traded stock till then with shares worth Tk 152 million changing hands, followed by Sea Pearl Beach, Genex Infosys, Popular Life Insurance and Olympic Industries.The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 49 points to stand at 18,332 while the Selective Categories Index – CSCX rose 33 points to reach 10,994, also at 11:00 am.