Stocks opened lower on Wednesday as investors were mostly cautious amid growing macroeconomic worries.
Following the previous day’s modest fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.58 points or 0.18 per cent to stand at 6,343 at 10:30 am.
Investors' participation remained thin on the trading floor as most of the investors are yet to return to Dhaka after celebrating the Eid festival in their village homes.
Turnover, another important indicator of the market, stood at Tk 1.02 billion after 30 minutes of trading at 10:00 am.
Two other DSE indices saw a downward trend till then. The DS30 index, which consists of the blue-chip companies, fell by 3.96 points to 2,280 while the DSES Index, which represents Shariah-based companies, fell by 3.50 points to 1,382.
Market operators said the market outlook remains gloomy as investors are concerned about several macroeconomic issues such as nationwide power outages due to gas shortages, inflationary pressure, depreciating currency, rising Covid-19 cases etc.
The ongoing bearish sentiment made investors cautious while the news of deepening energy crisis kept them worried, said a leading broker.
“Investors were unnerved over concerns about macro-economic cues of the country,” he said.
Of the issues traded till then, 166 declined, 109 advanced, and 61 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 80 million changing hands, closely followed by Golden Son, Beximco, Paramount textile and Intraco Refueling Station.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 9.0 points to stand at 18,678 while the Selective Categories Index – CSCX – fell 5.0 points to reach 11,192, also at 10:30 am.
Of the issues traded till then, 50 declined, 26 advanced and 19 remained unchanged with a turnover of Tk 88 million.
