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Stocks meander up at opening

Walton shares price continue to soar for second day

| Updated: September 27, 2020 17:47:29

Stocks meander up at opening

Stocks witnessed choppy trading in early hours of trading on Thursday as investors were active on both sides of the trading fence.

Meanwhile, Walton Hi-Tech Industries shares continued to soar as its shares price jumped 50 per cent -- the highest allowable limit for the second straight session, riding on investors’ ‘irrational hype’ over the new issue.

The local electronics giant’s share reached at Tk 567 each, rising 50 per cent on yesterday’s closing price, until filing the report at 10:30 am.

Following the previous day’s flat ending, the Dhaka Stock Exchange (DSE) opened higher with a key index rose 27 points within the first 10 minutes of trading.

After that the index started to decline amid profit booking sell pressure. After the first 30 minutes of trading, the DSEX lost 0.82 points, eroding all the initial gains.

DSEX, the prime index of the DSE, went down by 0.82 points or 0.01 per cent to reach 4971 points at 10:30 am.

The DS30 index, comprising blue chips, also fell 5.95 points to reach at 1,702 and the Shariah Index (DSES) shed 0.43 points to reach 1,125 points till then.

Turnover, the another important indicator of the market, stood at Tk 1.41 billion when the report was filed at 10:30am which was Tk 1.23 billion in the previous day at 10:30am.

Market operators said investors mostly followed cautious stance and many of them continued booking profit on stocks which saw significant gains in the past few weeks.

Of the issues traded till then, 164 advanced, 113 declined and 45 remained unchanged.

The insurance sector dominated the turnover chart till then with Rupali Life Insurance was the most traded stocks till then with shares worth Tk 121 million changing hands, closely followed by Nitol Insurance, Beximco, Fareast Life Insurance and Rupali Insurance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw volatility till then with CSE All Share Price Index- CASPI-gaining 8.0 points to stand at 14,189, also at 10:30am.

The Selective Categories Index – CSCX also lost 2.10 points to reach 8,510 till then.

Of the issues traded till then, 43 gained, 30 declined, and 23 issues remained unchanged with Tk 47 million in turnover.


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