Stocks opened lower on Monday as investors traded cautiously amid a lack of clear direction in the market.
Following the previous day's modest rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 29.50 points or 0.43 per cent to stand at 6,742, after the first hour of trading at 11:00 am.
Two other DSE indices also saw a negative trend till then with the DS30 index, comprising blue chips, losing 11.72 points to reach 2,476 and the Shariah Index (DSES) fell 5.48 points to stand at 1,465.
Turnover, another important indicator of the market, stood at Tk 2.13 billion at 11:00 am.
Market insiders said investors remained cautious to put fresh funds in stocks as the Holy Ramadan started due.
Global price instabilities due to the ongoing Russia-Ukraine conflict remained a major concern over the future macroeconomic scenario of Bangladesh, said a merchant banker.
Of the issues traded till then, 79 advanced, 222 declined, and 62 issues remained unchanged on the DSE trading floor.
VFS Thread Dyeing was the most traded stock till the filing of this report with shares worth Tk 163 million changing hands, closely followed by IPDC Finance, Beximco, Genex Infoyos and BDCOM Online.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 32 points to stand at 19,792 while the Selective Categories Index – CSCX shed 19 points to reach 11,874 at 11:00 am.
Of the issues traded till then, 39 advanced, 74 declined, and 14 remained unchanged with Tk 31 million in turnover.