Stocks down at open amid sluggish turnover

| Updated: February 23, 2023 13:47:52

Stocks down at open amid sluggish turnover

Stocks witnessed a downward trend at the opening on Thursday as cautious investors kept their sell-off amid a lack of clear market direction.

Following the previous three days’ fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 14.10 points or 0.23 per cent to 6,204, after the first two hours of trading at 12:00 noon.

Two other DSE indices saw a negative trend till then. The DS30 index, comprising blue chips, shed 2.71 points to 2,219 and the DSE Shariah Index (DSES) lost 4.60 points to 1,354.

Most of the investors continued their sell-off while some rebalanced their portfolios in response to the earnings disclosures of the listed companies for the latest quarter.

Most of the traded issues saw price erosion. Of the issues traded till then, 6 advanced, 145 declined, and 117 issues remained unchanged on the DSE.

Bangladesh Shipping Corporation was the most traded stock till the filing of this report with shares worth Tk 180 million changing hands, followed by Genex Infosys, Rupali Life Insurance, Aamra Networks and Sea Pearl Beach.

The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 16 points to stand at 18,343 while the Selective Categories Index – CSCX – shed 10 points to reach 10995, also at 12:00 noon.

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