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BCEL first to break price resistance gridlock
BCEL broke the price gridlock with a 200 kip gain in the 4th closing yesterday. However, this was not the case for EDL-Gen which was firmly stuck at 4,300 kip. The security managed to trade only in the 5th session, turning over a diminutive 2.15 million kip of stocks.
Holiday blues emerged in early trading yesterday as no stocks traded in the first two and final close.
But then the volumes (180,231) started to flow with a 42 percent gain to Friday's close and turnover benefited a daily gain of 47 percent thanks to a 2.67 percent gain in the BCEL share price.
Volumes for EDL-Gen were low at just 500 stocks, but the value hardly registered US$269 in the 5th session.
It took until the third close for any trades and then it was only BCEL which traded 97,600 shares unchanged at 7,500 kip. In the next session BCEL gained 200 kip on 82,131 stocks but then no stocks exchanged in the final session. BCEL for the day managed just under 180K for 1.36 million kip (US$170,700), a rise of 52 percent in volumes to Friday's close. But that was enough to put the index in the black to close up ½ percent at 927.01 points.
vientiane times
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