Stocks witnessed a downward trend in the early trading on Wednesday as investors were selling shares fearing a further fall.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 7.93 points or 0.11 per cent to stand at 6,829, after the first hour of trading at 11:00 am.
Investors were cautious as the ongoing tussle between the central bank and the stock market regulator could deepen further following a recent stock market regulator move that curtails banks’ power to cancel payments to bondholders, according to a stockbroker.
The central bank has written to several banks after finding out that the securities regulator’s condition on giving approval for issuance of perpetual bonds contradicts a Bangladesh Bank guideline.
The investors have been struggling with a lack of confidence for the past few days due to a tussle between two regulators while omicron infection in the country added worries to the investors, said a merchant banker.
The DS30 index, comprising blue chips, also dropped 10.65 points to stand at 2,557. However, the Shariah Index (DSES) rose 1.43 points to stand at 1,458 till then.
Turnover, another important indicator of the market, stood at Tk 1.84 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 130 advanced, 170 declined and 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 176 million changing hands, closely followed by ONE Bank, Fortune Shoes, GSP Finance and Delta Life Insurance.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 11 points to stand at 19,973 while the Selective Categories Index – CSCX shedding 12 points to reach 11,996, also at 11:00 am.
Of the issues traded till then, 41 advanced, 48 declined and 25 remained unchanged with Tk 36 million in turnover.
