Stocks open on negative note amid lower turnover

FE ONLINE REPORT | Thursday, 24 June 2021

Stocks opened marginally lower on Thursday as risk-averse investors went on selling shares amid rising virus cases and deaths in the country.

Following the previous day’s sharp decline, the market opened on a negative note this morning as the DSEX, the prime index of the DSE, went down by 15.95 points or 0.26 per cent to reach 6,019 points when the report was filed at 10:30 am.

Two other DSE indices also saw a negative trend with the DS30 index, comprising blue chips, fell 3.46 points to reach 2,185 and the Shariah Index (DSES) lost 2.32 points to stand at 1,295 till then.

Market operators said the investors went on a selling binge on major sector stocks riding on the news of the deteriorating Covid-19 situation in the country.

Turnover, another important indicator of the market, stood at Tk 2.98 billion within the first 30 minutes of trading at 10:30 am.

Of the issues traded, 106 advanced, 195 declined and 50 remained unchanged on the DSE trading floor till then.

Malek Spinning Mills was the most traded stock till the filing of this report with shares worth Tk802 million changing hands following its expansion plan news, closely followed by Beximco, Beacon Pharma, Saif Powertec and Makson Spinning.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a negative trend till then with CSE All Share Price Index- CASPI-losing 27 points to stand at 17,543, while the Selective Categories Index – CSCX shedding 17 points to reach 10,554, also at 10:30 am.

Of the issues traded till then 93 declined, 37 advanced and 11 remained unchanged with Tk 82 million in turnover.

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