Stocks witnessed a downward trend in early hours of trading on Wednesday as risk-averse investors opted for booking profit on quick-gaining stocks.
Following the previous day’s modest correction, the Dhaka Stock Exchange (DSE) opened on a positive note with the key index rose 13 points within the first 5 minutes of trading.
After that it started to decline. After the first 30 minutes of trading, the DSEX fell more than 6.0 points while the report was filed at 10:30am.
DSEX, the prime index of the DSE, went down by 6.28 points or 0.12 per cent to reach 4,976 points at 10:30am.
The DS30 index, comprising blue chips, also fell 2.60 points to reach at 1,702 and the Shariah Index (DSES) lost 2.66 points to reach 1,122 points till then.
Turnover, another important indicator of the market, stood at Tk 1.66 billion when the report was filed at 10:30am.
Market operators said the shaky investor grabbed profit on sector-wise issues which saw substantial gain in recent price surge.
However, a section of investors’ expectation regarding the market remained positive as they kept on taking fresh positions in sector-wise stocks amid expectations of better return, said a merchant banker.
Of the issues traded till then, 142 advanced, 104 declined and 68 remained unchanged.
Paramount Textile was the most traded stocks till then with shares worth Tk 363 million changing hands, closely followed by Asia Pacific Insurance, Sandhani Life Insurance, Sonar Bangla Insurance and Continental Insurance.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw downward till then with CSE All Share Price Index- CASPI-losing 33 points to stand at 14,227, also at 10:30am.
The Selective Categories Index – CSCX also fell 17 points to reach 8,542 till then.
Of the issues traded till then, 28 gained, 40 declined, and 21 issues remained unchanged with Tk 39 million in turnover.