Stocks open higher, turnover remains low
Stocks saw marginal gain in early trading on Tuesday with turnover remaining low as investors mostly followed cautious stance amid worsening pandemic situation in the country.
Within 30 minutes of trading, DSEX advanced more than 5.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 3.0 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went up by 5.35 points or 0.13 per cent to stand 3,986 points at 10:30 am.
Two other induces also saw positive trend till then. The DS30 index, comprising blue chips, advanced 4.52 points to reach at 1,340 and DSE Shariah Index rose 0.78 points to stand at 924 points till then.
Turnover, the important indicator of the market, stood at Tk 245 million on DSE when the report was filed at 10:30 am.
Market operators said the investors were worried about the adverse impact of worsening pandemic situation with looming uncertainty about economic growth and the regulator-enforced floor price system.
Lack of institutional buyers coupled with the current floor price limitation is preventing many investors from selling shares, said a merchant banker.
Beximco Pharma was the most traded stocks till then with shares worth Tk 42 million changing hands, closely followed by BSCCL, Square Pharma, Central Pharma and ACME Laboratories.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with the CSE All Share Price Index- CASPI-advancing 3.0 points to stand at 11,311 points, also at 10:30am.
The Selective Category Index – CSCX – also advanced 2.24 points to stand at 6,849 points till then.
Of the issues traded till then, 7 advanced, 9 declined and 30 issues remained unchanged with Tk 8.0 million in turnover.