Stocks witness mixed trend at open
FE ONLINE REPORT | Thursday, 29 October 2020
Stocks witnessed a mixed trend in the early trading on Thursday as investors mostly followed cautious stance amid ongoing earnings and dividend declaration sessions.
Following the previous five days’ downward trend, the Dhaka Stock Exchange (DSE) opened on a negative note while the Chittagong Stock Exchange (CSE) witnessed a positive trend in the early trading.
Within the first 30 minutes of trading, DSEX, the key index of the DSE, fell more than 6.0 points while the CSE All Share Price Index (CASPI) gained 51 points when the report was filed at 10:30am.
The benchmark index of the DSE went down by 6.10 points or 0.12 per cent to reach 4,832 points at that time.
However, two other indices saw a positive trend till then. The DS30 index, comprising blue chips, gained 2.17 points to reach at 1,667 while the Shariah Index (DSES) rose 2.31 points to reach 1,096 points till then.
Market analysts said the year-end dividend and quarter-end earning declarations of many companies failed to meet the investors’ expectations which prompted them for sell-off shares.
Turnover, another important indicator of the market, stood at Tk 2.35 billion when the report was filed at 10:30am.
Of the issues were being traded, 109 advanced, 141 declined and 77 remained unchanged till then.
The insurance sector continued to dominate the turnover chart where Global Insurance was the most traded stocks till filing of this report with shares worth Tk 228 million changing hands, closely followed by Beximco Pharma, Express Insurance, Eastland Insurance and Pioneer Insurance.
However, the Chittagong Stock Exchange (CSE) saw a positive trend till then with the CASPI gaining 51 points to stand at 13,847, also at 10:30am.
The Selective Categories Index (CSCX) also gained 28 points to reach 8,334 at that time.
Of the issues traded till then, 46 gained, 33 declined, and 20 issues remained unchanged with Tk 26 million in turnover.