Stocks fell sharply in the early trading on Sunday as investors were selling shares fearing a further fall.
Following the previous week’s downturn, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25.12 points or 0.36 per cent to stand at 6,843, after the first hour of trading at 11:00 am.
Market insiders said the investors have been struggling with a lack of confidence for the past few days due to the tussle between two regulators while Omicron infection in the country added worries to the investors.
The ongoing tension between Bangladesh Bank and Bangladesh Securities and Exchange Commission (BSEC) regarding some policy issues affected investors’ confidence badly, they said.
Meanwhile, two other DSE indices also saw a downward trend till then. The DS30 index, comprising blue chips, dropped 18.75 points to stand at 2,567 and the Shariah Index (DSES) fell 7.73 points to stand at 1,454 till then.
Turnover, another important indicator of the market, stood at Tk 1.63 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 168 declined, 141 advanced and 54 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 190 million changing hands, closely followed by ONE Bank, Active Fine Chemicals, Rahima Food and Peoples Insurance.
The Chittagong Stock Exchange also opened sharply lower with its All Shares Price Index (CASPI)—losing 173 points to stand at 19,901 while the Selective Categories Index – CSCX shedding 104 points to reach 11,959, also at 11:00 am.
Of the issues traded till then 90 declined, 43 advanced, and 16 remained unchanged with Tk 90 million in turnover.