Stocks opened higher on Tuesday as bargain hunters returned to the market, picking up shares that had suffered sharp losses in recent sessions.
The renewed buying interest came amid expectations that market regulators and the Dhaka Stock Exchange (DSE) would take steps to identify the reasons behind the recent market plunge and explore ways to restore stability.
The DSE is scheduled to sit with the top brokers on Tuesday to discuss the recent market downturn and possible measures to address the situation.
Market insiders said the significant correction in recent sessions had brought many stocks to attractive price levels, prompting investors to take fresh positions in selected sectors.
The benchmark DSEX index of the Dhaka Stock Exchange surged 44 points, or 0.80 per cent, to 5,612 by 11:00am, when the report was filed.
The DS30 index, which tracks 30 leading blue-chip companies, gained 10 points to 2,130, while the Shariah-based DSES index rose 6 points to 1,131.
Turnover stood at Tk 1.86 billion in the first hour of trading.
Market breadth remained strongly positive, with 324 issues advancing against only 19 declining, while 40 remained unchanged on the DSE, signalling broad-based buying interest.
Envoy Textiles emerged as the most-traded stock, with shares worth Tk 137 million changing hands.
The Chittagong Stock Exchange (CSE) also opened higher.
The CSE's All Share Price Index (CASPI) rose 7 points to 14,918, while its Selective Categories Index (CSCX) gained 3 points to 9,133.
