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Bourses witness downtrend in early trading

FE Online Report | Published: June 30, 2019 11:28:20 | Updated: July 01, 2019 10:36:11


Investors monitoring stock price movements on computer screens at a brockerage house in the capital — FE/Files

Stocks witnessed a downward trend in early hour of trading on Sunday as investors mostly followed cautious stance a day-after the finance bill for the budget gets Parliament's approval.

Parliament on Saturday passed the tax measures for fiscal 2019-20, reducing tax on retained earnings and reserves of companies to 10 per cent from initially-proposed 15 per cent in the face of outcry from businesses.

Following the previous day’s positive trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed positive trend at opening.

Within first 15 minutes of trading, DSEX, the key index of the country’s prime bourse advanced 5.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 10 points at 10:45am.

Later on, it started to decline. After 30 minutes of trading, the DSEX fell more than 8.0 points while the CASPI of Chattogram bourse lost 16 points at 11:00am when the report was filed.

The DSEX went down by 8.63 points or 0.15 per cent to stand at 5,421 points at that time.

The DS30 index, comprising blue chips, fell 3.84 points to reach at 1,921 points, while the DSE Shariah Index also shed 0.96 point to stand at 1,244 points till then.

Turnover, the important indicator of the market, stood at Tk 587 million on DSE when the report was filed at 11:00am.

National Polymer was the most traded stocks till filing of this report with shares worth Tk 77 million changing hands, closely followed by Bangladesh Submarine Cable Company, United Power, Runner Automobile and Square Pharma.

Of the issues traded till then, 94 advanced, 125 decline,d and 76 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange (CSE) also saw a downturn till then with the CASPI losing 16 points to stand at 16,625 points, also at 11:00am.

The Selective Category Index (CSCX) also shed 8.0 points to stand at 10,077 points till then.

Of the issues traded till then, 23 advanced, 37 declined, 18 issues remained unchanged with Tk 12 million in turnover.

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