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The Financial Express

Stocks post modest gains at opening

| Updated: November 19, 2020 11:16:38


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

Stocks on both the bourses managed marginal gains in the early hour of trading on Monday as many investors followed a cautious stance ahead of the country's biggest-ever IPO subscription - Robi.

Following the previous day’s correction, the Dhaka Stock Exchange (DSE) and 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 gained nearly 3.0 points while the CSE All Share Price Index (CASPI) rose 11 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, gained 2.77 points or 0.05 per cent to reach at 4,870 points at 10:30 am.

The Shariah Index (DSES) also advanced 11 points to reach at 1,116 points till then. However, the DS30 index, comprising blue chips, fell 1.85 points to stand at 1,694.

Market operators said the bargain hunters remained active on stocks that declared ‘satisfactory’ dividend and quarterly earnings.

However, many investors are waiting for the biggest ever IPO subscription beginning from Tuesday, they said.

Turnover, another important indicator of the market, stood at Tk 1.16 billion when the report was filed at 10:30 am.

Of the issues traded till then, 120 advanced, 76 declined, and 89 remained unchanged.

Mutual fund sector dominated the turnover chart till filing of this report with Exim Bank First Mutual Fund being the most traded stock with shares worth Tk 80 million changing hands, closely followed by Beximco Pharma, AB Bank First Mutual Fund, LR Global First MF and AND telecom.

The Chittagong Stock Exchange also saw a positive trend till then with the CASPI gaining 11 points to stand at 13,958, also at 10:30 am.

The Selective Categories Index (CSCX) also advanced 8.0 points to reach at 8,406 till then.

Of the issues traded till then, 28 gained, 20 declined, and 23 issues remained unchanged with Tk 18 million in turnover.

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