Stocks opened sharply lower on Wednesday, maintaining the previous day’s steep fall, as the jittery investors kept their sell-off to avoid further losses.
Following the previous day’s sharp decline, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down 54.21 points or 0.82 per cent to stand at 6,19 after the first hour of trading at 11:00 am.
Two other DSE indices also saw a downward trend till then with the DS30 index, comprising blue chips, losing 17.27 points to reach 2,414 and the Shariah Index (DSES) shed 11 points to stand at 1,431.
Turnover, another important indicator of the market, stood at Tk 1.56 billion at 11:00 am.
Market analysts said the ongoing pessimism kept investors mostly inactive as they were continuously losing their risk-taking appetite and engaged in selling sprees rather than placing fresh bets in the bearish market.
The looming uncertainty over the global economy and the commodity market instability continued to hurt investors’ confidence, they said.
Of the issues traded till then, 296 declined, 37 advanced, and 36 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of the report with shares worth Tk 316 million changing hands, closely followed by GBB Power, IPDC Finance, BD Lamps and Sonali Papers.
The Chittagong Stock Exchange also opened sharply lower, with its All Shares Price Index (CASPI)—losing 116 points to stand at 19,232, while the Selective Categories Index – CSCX shed 69 points to reach 11,539 at 11:00 am.
Of the issues traded till then, 141 declined, 16 advanced, and 16 remained unchanged with Tk 69 in turnover.