The Financial Express

Stocks volatile in early trading ahead of budget

| Updated: June 04, 2021 12:00:01

Stocks volatile in early trading ahead of budget

Stocks witnessed choppy trading in early hours on Wednesday as investors mostly followed cautious stance ahead of the national budget.

Finance Minister AHM Mustafa Kamal is set to unveil the national budget for the Fiscal Year (FY) 2021-2022 tomorrow (Thursday).

The market swung between negative and positive as the prime index of the major bourse is hovering around 6,000 points.

Within the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 1.75 points or 0.59 per cent to reach 5,995, when the report was filed at 11:00 am.

Two other indices, however, saw negative trend till then with the DS30 index, comprising blue chips, fell 6.35 points to reach 2,187 and the Shariah Index (DSES) lost 2.80 points to stand 1,281 points till then.

Turnover, another important indicator of the market, stood at Tk 7.26 billion within the first hour of trading at 11:00 am.

Market analysts said investors are cautiously monitoring and waiting for the upcoming budget announcements before making any further investment decisions.

Of the issues traded till then, 154 advanced, 124 declined and 68 remained unchanged on the DSE trading floor till then.

Global Insurance was the most traded stock till then with shares worth Tk 300 million changing hands, closely followed by Sonar Bangla Insurance, Green Delta Insurance, Beximco, and IFAD Autos.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw volatility with CSE All Share Price Index- CASPI-gaining 38 points to stand at 17,414, also at 11:00 am.

Of the issues traded till then 97 advanced, 75 declined and 35 remained unchanged with Tk 151 million in turnover.

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