Stocks witnessed a sharp decline on Sunday, the opening day of the week, as investors are 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), slid 44.46 points or 0.65 per cent to stand at 6,721, after the first hour of trading at 11:00am.
Two other indices also opened lower with the DS30 index, comprising blue chips, losing 15.75 points to reach 2,442 and the Shariah Index (DSES) shed 8.64 points to stand at 1,445.
Turnover, another important indicator of the market, stood at Tk 2.32 billion within the first hour of trading.
Market analysts said the index and turnover dropped as the risk-averse investors opted for booking profit on sector-wise stocks.
He noted that some investors also favored staying on the sidelines as concerns loomed due to rising inflation and global price instabilities amid ongoing Russia-Ukraine conflicts.
Of the issues traded till then, 286 declined, 58 advanced, and 32 issues remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 124 million changing hands, closely followed by Dragon Sweater, Orion Pharma, Peoples Insurance and IFIC Bank.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 81 to stand at 19,740, while the Selective Categories Index – CSCX shed 48 points to reach 11,842 at 11:00am.
Of the issues traded till then 111 declined, 23 advanced, and 14 remained unchanged with Tk 46 million in turnover.
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