Bourses witness downturn in early trading
Bourses witnessed a downward trend in the early hours of trading on Thursday as investors were mostly reluctant to make fresh investments in stocks amid the ongoing sluggish trading.
Following the previous seven days’ bearish trend, the market saw choppy trading this morning, as the DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 0.80 points to 7,021 after the first hour of trading at 11:00 am.
Two other DSE indices, however, saw a negative trend till then. The DS30 index, comprising blue chips, dropped 2.42 points to stand at 2,653 and the Shariah Index (DSES) shed 0.34 points to stand at 1,504 points at 11:00 am.
Turnover, another important indicator of the market, also witnessed a fall to stand at Tk 3.43 billion within the first hour of trading at 11:00 am.
Market analysts said the investors mostly maintained a cautious stance amid the ongoing market correction while some are focusing on June-closing stocks ahead of the corporate and dividend declarations.
BATBC, Grameenphone, Beximco Pharma, Dutch-Bangla Bank dragged down the index, said a stockbroker.
Of the issues traded till then, 190 advanced, 115 declined, 61 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 440 million changing hands, closely followed by Delta Life Insurance, IFIC Bank, Orion Pharma and BATBC.
The Chittagong Stock Exchange also saw a mixed trend with its All Shares Price Index (CASPI)—losing 19 points to stand at 20,501 while the Selective Categories Index – CSCX shedding 9.18 points to reach 12,318, also at 11:00 am.
Of the issues traded till then, 68 declined, 54 advanced and 26 remained unchanged with Tk 73 million in turnover.