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LSX Index: Volumes steady but prices remain gridlocked
Trading, though consistent in volumes, remains price gridlocked, with little change since August. Some investors are preferring to take a cash position, which is fine but there's no profit in that position with EDL-Gen.
Yesterday the index traded for three sessions at the same figure as Wednesday's close at 931.39 points.
No stocks traded in the second or third closings; however, in the 5th session it slumped to 920.37 and gradually clawed its way back to close at 929.17 points, down 2.22 points or 0.24 percent.
The daily volumes rose 14 percent to 48,762 stocks and the turnover rose 20 percent for the day to 242 million kip (US$30,234).
• BCEL: Yesterday BCEL lost 100 kip or 1.3 percent in the first session and never recovered, but the stock turned in a 100 percent increase to Wednesday's daily volumes with 10,000 stocks as the turnover rose by 97 percent for the day to 74 million kip (US$9,249). BCEL market capitalisation was 21.1 pct of the market as at yesterday's close with a touch over 1.01 trillion kip (US$126 million).
• EDL-Gen: The electricity company's stock has been steady all week and was up 3.5 percent in volumes and 3 percent in turnover yesterday. In early trades the price was unchanged, but in the 4th and 5th it fell 50 kip to close to 4,350 kip on 38,762 stocks for 168 million kip (US$29,986). EDL-Gen market capitalisation was 78.9 pct of the market as at yesterday's close with 3.77 trillion kip (US$472 million).
vientiane times
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