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Stocks posted a marginal decline in the early trading on Tuesday as investors followed a cautious stance ahead of the trading debut of the country's largest-ever issue Robi.
Following the previous day’s sharp gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower this morning amid low trading activities.
Within the first 30 minutes of trading, the DSE key index fell more than 3.0 points while the CSE All Share Price Index (CASPI) shed 15 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went down by 3.57 points or 0.06 per cent to reach at 5,111 points at 10:30 am.
Two other indices also saw a marginal fall till then. The DS30 index, comprising blue chips, lost 1.71 points to reach at 1,816 points while the Shariah Index (DSES) lost 2.20 points to stand 1,180 points till then.
Turnover, another important indicator of the market, stood at Tk Tk 1.58 billion when the report was filed at 10:30 am.
Market operators said as many investors freed funds to participate in the upcoming IPOs while some were waiting for debut trading of Robi.
Robi Axiata, the largest ever IPO in Bangladesh’s capital market history, will make its shares trading debut on December 24 (Thursday) under “N” category.
IPO subscription of Mir Akther Hossain will also begin on the day and the investors freed funds to participate in the upcoming IPO bonanza, said a leading broker.
Of the issues traded on the DSE till filing of this report, 112 advanced, 84 declined and 113 remained unchanged.
Beximco was the most traded stocks till then with shares worth Tk 336 million changing hands, closely followed by Beximco Pharma, Bangladesh National Insurance, Orion Pharma and National Feed Mills.
The Chittagong Stock Exchange (CSE) also saw a negative trend till then with the CASPI losing 15 points to stand at 14,723, also at 10:30 am.
The Selective Categories Index (CSCX) also lost 9.0 points to reach at 8,873 till then.
Of the issues traded till then, 27 gained, 21 declined, and 9 issues remained unchanged with Tk 18 million in turnover.