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The Financial Express

Stocks make modest gains at opening

FE ONLINE REPORT | Published: March 23, 2020 11:59:06


Stocks make modest gains at opening

Stocks posted a marginal gain in early trading on Monday as some banks have started to invest in the share market.

However, growing tension over the impacts of coronavirus outbreak remained in the investors’ mind.

The presence of investors on the trading floor was very thin due to mounting fears over coronavirus outbreak and many were executing trade over mobile phone, said a stockbroker.

The bourses also discourage their clients from rushing into the brokerage houses and encourage more to trade through mobile apps and other internet-based devices.

Within 30 minutes of trading, DSEX, prime index of Dhaka Stock Exchange (DSE) rose more than 11 points while CSE (Chittagong Stock Exchange)’s All Share Price Index (CASPI) advanced 30 points at 11:00am when the report was filed.

DSEX went up by 11.67 points, or 0.29 per cent, to stand at 3,971 points at 11:00am.

Of two other indices of the DSE, DS30 index, comprising blue chips, advanced 0.69 points to reach 1,322 and DSE Shariah Index lost 0.13 points to stand at 916 points till then.

Turnover, an important indicator of the market, stood at Tk 484 million on the main bourse when the report was filed at 11:00am.

Central Pharma was the most traded stock till then with shares worth Tk 42 million changing hands, closely followed by Monno Ceramic, Orion Pharma, Orion Infusion and National Tubes.

The CSE also saw a positive trend with its CSE All Share Price Index- CASPI-advancing 30 points to stand at 11,218 points, also at 11:00am.

The Selective Category Index – CSCX – also gained 19 points to stand at 6,796 points till then.

Of the issues traded till then, 16 advanced, four declined and 57 issues remained unchanged with Tk 13 million in turnover.

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