Stocks witnessed a mixed trend in the early trading on Tuesday as investors mostly followed a cautious stance amid the country’s biggest-ever IPO subscription – Robi Axiata.
Following the previous day’s flat ending, the Dhaka Stock Exchange (DSE) saw a downturn while the Chittagong Stock Exchange (CSE) saw a positive note at the opening this morning.
Within the first 30 minutes of trading, the DSE key index lost more than 2.0 points while the CSE All Share Price Index (CASPI) advanced nearly 4.0 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went down by 2.22 points or 0.04 per cent to stand 4,869 points at 10:30 am.
Market operators said investors mostly maintained a cautious stance due to the forthcoming initial public offerings while the bargain hunters were active on stocks which declared satisfactory earnings.
Due to the overflow of the IPOs, the secondary market has remained slow in recent weeks as investors gave their attention to the primary market to collect at least an IPO lot to book some short-term profit, said a merchant banker.
Meanwhile, two other indices on the DSE also saw a downward trend till then. The DS30 index, comprising blue chips, fell 5.35 points to reach at 1,691 and the Shariah Index (DSES) shed 3.40 points to stand at 1,119 points till then.
Turnover, another important indicator of the market, stood at Tk 1.31 billion when the report was filed at 10:30 am.
Of the issues traded till then, 126 advanced, 82 declined, and 90 remained unchanged.
Beximco Pharma was the most traded stock till filing of this report with shares worth Tk 66 million changing hands, closely followed by Quasem Industries, ICB AMCL Second Mutual Fund, Grameen One: Scheme Two Mutual Fund and Exim Bank First Mutual Fund.
However, the Chittagong Stock Exchange (CSE) witnessed a positive trend till then with the CASPI gaining 4.0 points to stand at 13,934, also at 10:30 am.
The Selective Categories Index (CSCX) also advanced 3.0 points to reach 8,393 till then.
Of the issues traded till then, 40 gained, 35 declined, and 21 issues remained unchanged with Tk 29 million in turnover.