The Financial Express

Stocks open lower as investors booking profits

Robi share continue to soar

| Updated: December 30, 2020 11:08:09

Evaly and Fianancial Express Evaly and Fianancial Express
Stocks open lower on profit-taking

Stocks witnessed a downward trend in early trading on Monday as risk-averse investors opted for booking profit on quick-gaining stocks.

Meanwhile, Robi’s share continued to rise for the third trading day and reached Tk 24.70 each at 10:30 am, soaring 9.78 per cent.

Within the first 30 minutes of trading, the DSE key index fell more than 26 points while the CSE All Share Price Index- CASPI lost 38 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went down by 26.50 points or 0.49 per cent to reach 5,301 points at 10:30 am.

Two other indices also saw a downturn till then. The DS30 index, comprising blue chips, shed 16.65 points to reach 1,899 points and the Shariah Index (DSES) fell 8.56 points to stand 1,218 points till then.

Market analysts said cautious investors booked quick-profit on sector-specific issues, which saw substantial gain the past few trading sessions, taking the market in downward trend.

However, the bargain hunters remained active on the market and taking a position on lucrative stocks amid year-end dividend expectations.

Turnover, another important indicator of the market, stood at Tk 2.54 billion within 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, `141 advanced, 115 declined and 81 remained unchanged.

Beximco was the most traded stock till then with 5.77 million shares worth Tk 262 million changing hands, followed by IFIC Bank, LankaBangla Finance, Beximco Pharma, and Bangladesh Submarine Cable Company.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a downward trend till then with CSE All Share Price Index- CASPI-losing 38 points to stand at 15,321, also at 10:30 am.

The Selective Categories Index – CSCX also fell 21 points to reach 9,240 till then.

Of the issues traded till then, 34 gained, 45 declined, and 22 issues remained unchanged with Tk 163 million in turnover.

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