Stocks witness mixed trend amid volatility

December 23, 2020 10:52:05

Stocks witnessed mixed trend in early trading on Wednesday with choppy trading as investors mostly followed cautious and waited for debut of the largest ever issue Robi.

Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) saw a positive trend while the Chittagong Stock Exchange (CSE) opened lower amid higher trading activities.

Within the first 30 minutes of trading, the DSE key index advanced more than 4.0 points while the CSE All Share Price Index- CASPI shed .80 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 4.72 points or 0.09 per cent to reach 5,103 points at 10:30 am.

Two other indices, however, saw marginal fall till then. The DS30 index, comprising blue chips, lost 1.13 points to reach 1,811 points and the Shariah Index (DSES) shed 0.37 points to stand 1,177 points till then.

Turnover, another important indicator of the market, stood at Tk crossed Tk 2.0 billion-mark within the first 30 minutes of trading to Tk 2.02 billion when the report was filed at 10:30 am.

Market operators said as many investors freed funds to participate in the upcoming IPOs while some were waiting for debut trading of the largest ever issue Robi.

Robi Axiata, the largest ever IPO in Bangladesh’s capital market history, will make its shares trading debut from tomorrow (Thursday) under “N” category.

IPO subscription of Mir Akther Hossain will also begin tomorrow, which will raise Tk 1.25 billion under the book-building method, and the investors freed funds to participate in the upcoming IPO bonanza, said a leading broker.

Of the issues traded till then, `106 advanced, 92 declined and 98 remained unchanged.

Beximco was the most traded stock till then with 6.12 million shares worth Tk 236 million changing hands, followed by Republic Insurance, LafargeHolcim, Rupali Insurance, and Phoenix Insurance.

However, the port city bourse – the Chittagong Stock Exchange– saw a negative trend till then with CSE All Share Price Index- CASPI-losing 8.0 points to stand at 14,646, also at 10:30 am.

The Selective Categories Index – CSCX also lost5.0 points to reach 8,829 till then.

Of the issues traded till then, 37 gained, 23 declined, and 16 issues remained unchanged with Tk 70 million in turnover.

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