Stocks opened on a downward trend on Monday as the cautious investors were seen selling shares amid ongoing year-end earnings and dividends declarations.
Following the previous week’s modest rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 16.44 points or 0.24 per cent to stand at 6,681, after the first hour of trading at 11:00 am.
Two other DSE indices also saw a downturn till then with the DS30 index, comprising blue chips, losing 7.21 points to reach 2,427 and the Shariah Index (DSES) shed 2.98 points to stand at 1,438.
Turnover, another important indicator of the market, stood at Tk 1.98 billion within the first hour of trading.
Market analysts said some investors remained worried about the possible adverse impact of the Russia-Ukraine war on the country’s economy while some were reluctant to make fresh investments in stocks ahead of the holy Ramadan.
He noted that some investors also favoured staying on the sidelines as concerns loomed due to rising inflation and global price instabilities amid the ongoing Russia-Ukraine conflict.
Of the issues traded till then, 200 declined, 106 advanced, and 67 issues remained unchanged on the DSE trading floor.
Silco Pharma was the most traded stock till the filing of this report with shares worth Tk 135 million changing hands, closely followed by BDCOM Online, Beximco, Dragon Sweater and Aamra Network.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 76 to stand at 19,578, while the Selective Categories Index – CSCX shed 45 points to reach 11,745 at 11:00 am.
Of the issues traded till then, 103 declined, 29 advanced, and 20 remained unchanged with Tk 36 million in turnover.