Stocks witnessed a downward trend in the early trading on Tuesday as risk-averse investors preferred to book quick-profit on major sector issues following the recent price upsurge.
Following the last three days’ correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on negative note today amid low trading activities.
Within the first 30 minutes of trading, DSEX, the benchmark index of DSE, fell more than 24 points, dipping below 5000-mark while the CSE All Share Price Index (CASPI) of the port city’s bourse lost 72 points at 10:30am when the report was filed.
The DSEX went down by 24.35 points or 0.48 per cent to reach 4,987 points at that time.
The DS30 index, comprising blue chips, also fell 10.25 points to reach at 1,716 and the Shariah Index (DSES) shed 6.0 points to reach 1,132 points till then.
Turnover, another important indicator of the market, stood at Tk 1.45 billion when the report was filed at 10:30am which was Tk 1.85 billion at the corresponding time in the previous day.
Market operators said cautious investors opted for booking quick-profit on sector-wise stocks following the recent price surge while some were busy with rebalancing portfolios ahead of dividend declarations.
Of the issues traded till then, 111 advanced, 168 declined and 62 remained unchanged.
Beximco Pharma was the most traded stock till filing of this report with shares worth Tk 81 million changing hands, closely followed by First Bangladesh Fixed Income Fund, Nitol Insurance, Rupali Insurance and BATBC.
The Chittagong Stock Exchange (CSE) also saw a negative trend till then with the CASPI losing 72 points to stand at 14,247, also at 10:30am.
The Selective Categories Index (CSCX) also lost 38 points to reach 8,559 till then.
Of the issues traded till then, 41 gained, 78 declined, and 18 issues remained unchanged with Tk 26 million in turnover.