Stocks witnessed sharp decline in early trading on Sunday as investors mostly followed cautious stance amid ongoing virus fears.
Within 30 minutes of trading, DSEX, the key index of DSE, lost more than 27 points while the CSE All Share Price Index (CASPI) of port city’s bourse shed 64 points at 11:00 when the report was filed.
The DSEX went down by 27.10 points or 0.66 per cent to stand 4,042 points at 11:00am.
Two other indices also saw downward trend till then. The DS30 index, comprising blue chips, fell 12.36 points to reach at 1,356 and the DSE Shariah Index lost 8.48 points to stand at 937 points till then.
Turnover, the important indicator of the market, stood at Tk 514 million on DSE when the report was filed at 11:00am.
Market analysts said the risk-averse investors continued their profit booking sell-offs and many investors remained watchful as impact of Covid-19 induced uncertainty is still hovering over the economy.
The market has been struggling with a poor participation of investors for long thanks to the regulator-enforced floor price mechanism and no signs of improvement of the pandemic situation, said a merchant banker.
Square Pharma was the most traded stocks till filing of this report with shares worth Tk 53 million changing hands, followed by Beximco Pharma, Beacon Pharma, Indo-Bangla Pharma and BSCCL.
The Chittagong Stock Exchange (CSE) also saw a downward trend till then with the CASPI dropping 64 points to stand at 11,495 points, also at 11:00am.
The Selective Category Index (CSCX) also lost 40 points to stand at 6,967 points till then.
Of the issues traded till then, 8 advanced, 36 declined and 29 issues remained unchanged with Tk 6.0 million in turnover.