Stocks witnessed a downward trend in early trading on Tuesday as risk-averse investors opted for booking profits on the quick-gaining stocks.
However, Lub-rref (Bangladesh), a local lubricant producer, made a flying trading debut on Tuesday on the Dhaka Stock Exchange and Chittagong Stock Exchange.
The company’s share reached at Tk 40.50 each on the DSE at the opening, soaring 50 per cent, the highest allowable limit from its offer price of Tk 27 each.
After one hour of trading, only two trades were executed of Lub-rref shares as IPO shares winners unwilling to sell their stakes amid hope for higher price.
Following the previous three days’ rising, the DSE and CSE saw volatility at opening.
Within the first hour of trading, the DSEX fell more than 7.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 9.40 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went down by 7.05 points or 0.12 per cent to stand 5,597 points till then.
Two other indices also saw downturn. The DS30 index, comprising blue chips, fell 3.48 points to reach at 2,164 points and the Shariah Index (DSES) lost 0.12 points to stand 1,265 points till then.
Turnover, another important indicator of the market, stood at Tk 3.26 billion within the first hour of trading when the report was filed at 11:00am.
Of the issues traded till then, 102 advanced, 108 declined and 111 remained unchanged.
Robi Axiata is the most traded stocks till then with shares worth Tk 745 million changing hands, followed by Beximco, LafargeHolcim, Summit Power and BATBC.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw negative note with CSE All Share Price Index- CASPI-losing 9.40 points to stand at 16,252, also at 11:00am.
Of the issues traded till then, 36 gained, 38 declined, and 31 remained unchanged with Tk 123 million in turnover.
babulfexpress@gmai.com