Stocks open positive amid poor turnover

November 18, 2020 11:16:40

| Updated:

November 18, 2020 13:10:35

Stocks posted a marginal gain in early trading on Wednesday as bargain hunters are active on sector-wise issues based on the latest corporate declarations.

Following the previous day’s upbeat note, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw positive note at opening amid sluggish turnover.

Within the first 30 minutes of trading, the DSE key index gained more than 5.0 points while the CSE All Share Price Index- CASPI advanced 15 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 5.71 points or 0.12 per cent to reach 4,910 points at 10:30 am.

Market operators said the optimistic investors showed their appetite on sector-specific issues based on latest corporate declarations.

The recent downward trend sent the share prices of more than 75 companies to their floor prices level which also encouraged some investors to take fresh position on lucrative stocks, said a merchant banker.

However, turnover remained sluggish as a section of investors are releasing funds to participate in the forthcoming IPOs, he said.

The Shariah Index (DSES) also advanced 0.48 points to reach 1,127 points till then. However, the DS30 index, comprising blue chips, fell 0.10 point to reach at 1,703.

Turnover, another important indicator of the market, stood at only Tk 987 million when the report was filed at 10:30 am.

Of the issues traded till then, 117 advanced, 81 declined and 95 remained unchanged.

Beximco Pharma was the most traded stock till then with shares worth Tk 50 million changing hands, closely followed by Associated Oxygen, AB Bank First Mutual Fund, Grameen One: Scheme Two Mutual Fund, and IFIC Bank.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a positive trend till then with CSE All Share Price Index- CASPI-gaining 15 points to stand at 14,062, also at 10:30 am.

The Selective Categories Index – CSCX also advanced 10 points to reach 8,469 till then.

Of the issues traded till then, 26 gained, 30 declined, and 21 issues remained unchanged with Tk 30 million in turnover.






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