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The Financial Express

Stocks end nearly flat after choppy trading

Walton Hi--Tech makes flying trading debut


| Updated: September 23, 2020 17:45:22


Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks ended almost flat on Wednesday as investors were active on both sides of the trading fence throughout the session.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,972, advancing 2.02 points or 0.04 per cent, after losing 146 points in the past four straight sessions.

Meanwhile, Walton Hi-Tech Industries made a flying trading debut today as its share price jumped 50 per cent, the highest allowable limit, riding on investors’ ‘irrational hype’ over the new issue.

The local electronics manufacturing giant’s share closed at Tk 378 each on the DSE, soaring 50 per cent on its offer price. The company’s offer price was Tk 252 each.

Market analysts said the cautious investors continued to book profit on majors sectors’ issues which saw substantial gains the past few weeks while optimistic investors took position on lucrative stocks.

However, two other DSE indices ended lower today. The DS30 index, comprising blue chips, lost 5.85 points to finish at 1,708 and the DSE Shariah Index saw a fractional loss of 0.91 point to close at 1,125.

Turnover, a crucial indicator of the market, stood at Tk 8.82 billion, which was 21 per cent higher than the previous day’s one month’s lowest turnover of Tk 7.29 billion.

Gainers outnumbered the losers as out of 356 issues traded, 174 closed higher, 137 ended lower while 45 issues remained unchanged on the DSE trading floor.

A total number of 176,741 trades were executed in the day’s trading session with a volume of 343.61 million shares and mutual fund units.

The market-cap on the premier bourse rose to Tk 3,892 billion on Wednesday, from Tk 3,769 billion in the previous session.

Beximco Pharma topped the turnover chart with shares worth Tk 280 million changing hands, closely followed by Delta Brac Housing Finance, Beximco, Rupali Insurance and Sandhani Insurance.

The general insurance sector continued to dominate the gainers chart with Delta Life Insurance was the best performer, posting a gain of 9.95 per cent while BD Welding was the worst loser for the second straight session, dropping 8.29 per cent.

The Chittagong Stock Exchange also ended flat with its All Shares Price Index (CASPI) gaining 11 points to close at 14,181 while the Selective Categories Index (CSCX) losing 1.60 points to close at 8,512.

Of the issues traded, 136 advanced, 112 advanced and 46 remained unchanged on the CSE.

The port city bourse traded 13 million shares and mutual fund units with turnover value of Tk 212 million.

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