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Markets witness downturn in early trading

| Updated: June 24, 2022 10:20:53


Markets witness downturn in early trading

The stock market witnessed a downward trend in the early trading on Wednesday as some investors kept their selling binge amid persisting macroeconomic worries.

Following the previous day’s fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 3.53 points or 0.05 per cent to stand at 6,308 after the first two hours of trading at 12:00 noon.

The DS30 index, comprising blue chips, also fell 5.32 points to reach 2,290. However, the Shariah Index (DSES) saw a fractional gain of 0.41 points to stand at 1,379.

Turnover, another important indicator of the market, stood at Tk2.63 billion after the first two hours of trading at 12:00 noon.

Market analysts said investors kept their sell-off on major sector stocks amid growing tension over the country’s macroeconomic situation.

The anxiety of economic instability and uncertainties of the coming days created apprehensions among stock investors, they said.

Of the issues traded till then, 138 declined, 171 advanced, and 70 issues remained unchanged on the DSE trading floor.

Shinepukur Ceramics was the most traded stock till the filing of this report with shares worth Tk 169 million changing hands, closely followed by Beximco, Alif Industries, Sonali Paper and JMI Hospital Requisite.

The Chittagong Stock Exchange also saw a negative trend till then with its All Shares Price Index (CASPI)—losing 14 points to stand at 18,576 the Selective Categories Index – CSCX – shed 8.80 points to reach 11,137, also at 12:00 noon.

Of the issues traded till then, 95 declined, 60 advanced and 29 remained unchanged with Tk 46 million in turnover.

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