Stocks mixed in early trading as sentiment remains fragile

Stocks witnessed mixed trend in early hours of trading on Thursday as investors mostly followed cautious after the final budget.

Parliament 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 downturn, the Dhaka Stock Exchange (DSE) saw downward trend while the Chittagong Stock Exchange (CSE) opened on positive note.

Within first 15 minutes of trading, the key index of the country’s prime bourse fell 2.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 16 points at 10:45am.

After 30 minutes of trading, the DSEX fell 0.55 point while the CSE All Share Price Index (CASPI) of port city’s bourse gained 20 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went down by 0.55 point to stand 5,371 points at 11:00am.

The DS30 index, comprising blue chips, also fell 3.67 points to reach at 1,905 points till then. The DSE Shariah Index lost 1.19 points to stand at 1,232 points.

Turnover, the important indicator of the market, stood at Tk 1.01 billion on DSE when the report was filed at 11:00am.

National Life Insurance was the most traded stocks till then with shares worth Tk 101 million changing hands, closely followed by Runner Automobiles, Dhaka Insurance, Silco Pharma and Paramount Textile.

Of the issues traded till then, 160 advanced, 95 declined and 59 remained unchanged on the DSE trading floor.

However, the port city’s bourse – the Chittagong Stock Exchange – (CSE) saw positive trend till then with CSE All Share Price Index- CASPI-advancing 20 points to stand at 16,485 points, also at 11:00am.

The Selective Category Index – CSCX –also gained 11 points to stand at 9,995 points till then.

Of the issues traded till then, 66 advanced, 28 declined 23 issues remained unchanged with Tk 150 million in turnover.

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