Stocks witnessed a marginal fall in early trading on Thursday as investors remained cautious amid growing macroeconomic worries.
Following the previous two days’ modest fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 5.32 points or 0.08 per cent to stand at 6,319 after the first hour of trading at 11:00 am.
Two other DSE indices saw a downward trend till then. The DS30 index, which consists of the blue-chip companies, fell by 2.08 points to 2,270 while the DSES Index, which represents Shariah-based companies, fell by 3.58 points to 1,374.
Turnover, another important indicator of the market, stood at Tk 1.64 billion after the first hour of trading.
Market analysts said the market outlook remains gloomy as investors are concerned about several macroeconomic issues such as the energy crisis due to gas shortages, inflationary pressure and depreciating local currency.
“Investors are anxious over the country’s macroeconomic cues,” said a merchant banker.
He noted that the ongoing bearish sentiment made investors cautious while the news of foreign-exchange reserves fell below $40 billion after two years, keeping them more nervous.
Of the issues traded till then, 205 declined, 110 advanced, and 60 issues remained unchanged on the DSE trading floor.
Titas Gas was the most traded stock till the filing of this report with shares worth Tk 276 million changing hands, closely followed by Beximco, National Tubes, KDS Accessories and Golden Son.
The Chittagong Stock Exchange, also opened lower with its All Shares Price Index (CASPI)—losing 24 points to stand at 18,590 while the Selective Categories Index – CSCX – fell 14 points to reach 11,114, also at 11:00 am.
Of the issues traded till then, 103 declined, 30 advanced and 18 remained unchanged with a turnover of Tk 96 million.