Stocks witnessed a downward trend in the early trading on Monday as investors continued their sell-off in sector-wise issues to avoid further fall.
Following the previous day’s steep decline, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25.82 points or 0.38 per cent to stand at 6,757, after the first hour of trading at 11:00 am.
Market insiders said the nervous investors continued their selling binge as the ongoing tension over the policy disputes between Bangladesh Bank and Bangladesh Securities and Exchange Commission took a new turn on the perpetual bond issue.
The investors have been struggling with a lack of confidence for the past few days due to a tussle between two regulators while omicron infection in the country added worries to the investors, they said.
Meanwhile, two other DSE indices also saw a downward trend till then. The DS30 index, comprising blue chips, dropped 14.02 points to stand at 2,533 and the Shariah Index (DSES) fell 4.86 points to stand at 1,438 at that time.
Turnover, another important indicator of the market, stood at Tk 1.94 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 107 declined, 184 advanced and 72 issues remained unchanged on the DSE trading floor.
Genex Infosys was the most traded stock till the filing of this report with shares worth Tk 185 million changing hands, closely followed by ONE Bank, Beximco, Sena Kalyan Insurance and First Security Islami Bank.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 69 points to stand at 19,669 while the Selective Categories Index – CSCX shedding 40 points to reach 11,821, also at 11:00 am.
Of the issues traded till then, 99 declined, 52 advanced and 13 remained unchanged with Tk 62 million in turnover.