Loading...
The Financial Express

Stocks open mixed after record-breaking rally

| Updated: August 19, 2021 16:16:23


Stocks open mixed after record-breaking rally

Stocks opened on a mixed trend on Tuesday, after the record-breaking rally in the previous session, as risk-averse investors are preferred to book profit on quick-gaining issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 30.18 points or 0.44 per cent to stand at 6,779 points within the first 30 minutes of trading at 10:30 am –the highest since its inception more than eight years back in 2013.

However, two other indices saw negative trend till then, with the DS30 index, comprising blue chips, shed 3.22 points to reach 2,424 and the Shariah Index (DSES) fell 0.15 points to stand at 1,468 points till then.

Turnover, another important indicator of the market, stood at Tk 4.26 billion within the first 30 minutes of trading at 10:30 am.

Market analysts said investors welcomed the regulator’s move and remained optimistic as the stock market regulator extended credit facilities further to the investors.

However, many investors are booking profit on quick-gaining stocks as the market index crossed the 6700-mark in the previous day, they said.

The Bangladesh Securities and Exchange Commission (BSEC) on Thursday revised the limit of margin loan facilities based on the DSE key index - at a maximum rate of 1:0.80 when the DSEX is below 8,000.

In other words, a maximum margin loan of Tk 80 can be provided against a client’s own investment of Tk 100.

Of the issues traded till then, 189 advanced, 131 declined and 37 remained unchanged on the DSE trading floor till then.

IFIC Bank was the most traded stock till then with shares worth Tk 257 million changing hands, closely followed by Keya Cosmetics, LankaBangla Finance, Ring Shine Textile, and AB Bank.

The port city bourse – the Chittagong Stock Exchange – (CSE) saw an upward trend till then with CSE All Share Price Index- CASPI-rising 47 points to stand at 19,697, also at 10:30 am.

Of the issues traded till then 44 advanced, 27 declined and 92 remained unchanged with Tk 128 million in turnover.

[email protected]

Share if you like