Stocks open positive amid surging 'Z' category shares
According to the directive of Bangladesh Securities and Exchange Commission, twelve companies are going to leave the 'Z' category of the stock market and will be returning to their previous class from today
Equity indices of the country's two major stock exchanges witnessed a positive trend in the early hours of trading session today, while 'Z' category shares surged on securities regulator's directive that was revealed on Tuesday.
DSEX, the key index of Dhaka Stock Exchange (DSE) rose by 8.57 points or 0.17% to reach at 4,870 in the first one-and-half-hour till 11:30am.
However, Turnover on the Dhaka Stock Exchange (DSE) trading floor moderately dropped by 7 percent to Tk269.61 crore in the first session amid floor price limitation.
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Out of the 353 issues traded during the same time frame, 185 company's share prices advanced, 109 declined, and 59 remained unchanged.
Meanwhile, the benchmark index CASPI at the Chittagong Stock Exchange (CSE) has increased 22 points to settle at 13,881.
According to the directive of Bangladesh Securities and Exchange Commission, twelve companies are leaving the 'Z' category of the stock market. These companies will return to their previous class from Wednesday (September 2), which means the company that came from 'A' to 'Z' will go back to 'A' and the company that came from 'B' will be going back to 'B' category.
These companies include: AB Bank, Prime Insurance, Renwik, Appollo Ispat, Heidelberg Cement, BD Thai, Safco Spinning, Zaheen Tex, Libra Infusion, Khan Brothers PP Woven, Salvo Chemical and Fu Wang Ceramic.
The direction also said that the 'Z' category stock settlement cycle will be T plus three instead of T plus nine from today.
