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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Stocks nearly flat at open amid low turnover

| Updated: June 21, 2020 14:42:25


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

Stocks remained almost flat in early trading on Sunday with sluggish turnover as growing tension over the Covid-19 pandemic and floor price mechanism kept the investors almost stagnant.

Within 30 minutes of trading, DSEX, the key index of DSE, advanced 0.69 point while the CSE All Share Price Index (CASPI) of port city’s bourse gained 0.66 points at 11:00am when the report was filed.

The DSEX went up by 0.69 points or 0.01 per cent to stand 3,961 points at that time.

The DSE core index is hovering between 3,950 and 3,970 points for the past 14 sessions as most of the sellers find almost no buyers amid growing tension over the Covid-19 pandemic and floor price mechanism.

Two other indices also saw fractional gain till then. The DS30 index, comprising blue chips, advanced 0.43 points to reach at 1,325 and the DSE Shariah Index gained 0.06 point to stand at 918 points till then.

Turnover, one of the important indicators of the market, stood at Tk 139 million on DSE when the report was filed at 11:00am.

Market analysts said the worsening pandemic situation has made the market almost buyer-less in recent days as the outbreak is going to put a long-lasting adverse impact on the country’s economy.

Central Pharma was the most traded stock till filing of this report with shares worth Tk 13 million changing hands, closely followed by Linde BD, Phoenix Finance First Mutual Fund, BSCCL and Federal Insurance.

The Chittagong Stock Exchange also saw marginal gain till then with the CSE All Share Price Index (CASPI) gaining 0.66 point to stand at 11,254 points, also at 11:00am.

The Selective Category Index (CSCX) also advanced 0.42 point to stand at 6,818 points till then.

Of the issues traded till then, 5 advanced, 3 declined and 21 issues remained unchanged with Tk 44 million in turnover.

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