Stocks rise at opening amid volatility

January 21, 2021 11:22:19

| Updated:

January 21, 2021 11:29:37

Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks on both the bourses witnessed a positive note amid continued volatility in the early trading on Thursday as investors remained mostly busy booking profits with cautious positioning.

Following the previous day’s marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note this morning amid low trading activities.

Within the first 30 minutes of trading, the DSEX advanced more than 11 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 56 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 11.25 points or 0.19 per cent to stand at 5,838 points at 10:30 am.

Two other DSE indices also saw a positive trend till then. The DS30 index, comprising blue chips gained 5.48 points to reach at 2,212 points and the Shariah Index (DSES) advanced 1.08 points to stand 1,291 points till then.

Market operators said cautious investors continued on selling binge while some others were busy rebalancing portfolio ahead of year-end earnings declarations.

They said bargain hunters showed a cautious approach on selective issues as trading on bourses remained choppy for the last couple of days due to profit-taking tendency of some nervy investors.

However, the investors’ confidence remained high as the country’s overall economy continued recovering in the post-Covid-19 phase, they added.

Turnover, another important indicator of the market, stood at Tk 2.18 billion within 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, 130 advanced, 87 declined, and 75 remained unchanged.

Robi was the most traded stocks till filing of this with 6.90 million shares worth Tk 445 million changing hands, followed by BD Finance, Beximco, City Bank and GBB Power.

The Chittagong Stock Exchange also saw a positive note with the CASPI gaining 56 points to stand at 17,043, also at 10:30 am.

Of the issues traded till then, 38 gained, 28 declined, and 20 issues remained unchanged with Tk 106 million in turnover.

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