Stocks ended slightly lower on Sunday as investors turned cautious for making fresh bets on stocks amid lack of clear direction.
The market moved between positive and negative several times before closing lower as investors hesitated to make fresh investments in the market amid the ongoing Russia-Ukraine conflict.
DSEX, the key index of the Dhaka Stock Exchange, went down by 11.32 points or 0.16 per cent to settle at 6,741, after gaining 2.47 points in the previous day.
The DSE 30 Index, comprising blue chips, also dropped 3.83 points to finish at 2,462. However, the DSE Shariah Index (DSES) advanced 1.26 points to close at 1,458.
Turnover, the crucial indicator of the market, stood at Tk 8.58 billion, which was 3.50 per cent higher than the previous day’s tally of Tk 8.29 billion.
Market insiders said the ongoing Russia-Ukraine conflict escalated inflationary pressure which held back many investors from putting fresh bets on stocks.
The investors followed cautious on making fresh aggressive bets in stocks as commodity price hikes and inflation emerged as headaches for the average-income families that might hurt corporate earnings ultimately, said a leading broker.
Losers took a strong lead over the gainers as out of 378 issues traded, 219 declined, 117 advanced and 42 remained unchanged on the DSE trading floor.
Beximco continued to top the turnover list with shares worth Tk 920 million changing hands, followed by Fortune Shoes (Tk 671 million), Orion Pharma (Tk 439 million), Premier Bank (Tk 321 million) and Fu-Wang Food (Tk 260 million).
Bangladesh National Insurance Company was the top gainer, posting a 9.95 per cent gain, while ICB Islamic Bank was the day’s worst loser, losing 6.12 per cent following its corporate declarations.
The Chittagong Stock Exchange (CSE) also slipped into the red with the CSE All Share Price Index – CASPI –losing 53 points to settle at 19,771 and the Selective Categories Index – CSCX – shedding 32 points to close at 11,861.
Of the issues traded, 178 declined, 78 advanced and 40 issues remained unchanged on the CSE.
The port city’s bourse traded 9.11 million shares and mutual fund units with a turnover value worth over Tk 266 million.
