The Financial Express

Stocks open lower ahead of Eid vacation

Sonali Life’s stock jumps 324pc at open

| Updated: July 14, 2021 10:01:18

Stocks open lower ahead of Eid vacation

Stocks opened marginally lower on Monday, the first session of the week, as cautious investors are booking profit on sector-wise issues ahead of Eid vacation.

As per the banking schedule, trading days will be from Monday to Thursday for this week.

Following the previous day’s marginal rise, the market started on a negative note as cautious investors opted for booking profit ahead of Eid festival and rising trend of Covid-19 infections and deaths.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 14.05 points or 0.22 per cent to stand at 6,198 within the first 30 minutes of trading at 10:30 am.

Meanwhile, stock prices of newly listed Sonali Life Insurance soared more than 324 per cent to Tk 67.90 within the first 30 minutes of trading as there will be no price limit on the trading of the shares of the company today following its corporate declaration.

The board of directors of Sonali Life Insurance has recommended a 10 per cent cash dividend for all shareholders for the year ended on December 31, 2020.

Besides, the board has also recommended a 2.0 per cent interim cash dividend for the year which will end on December 31, 2021, based on three months financial statements for January-March, 2021.

Two other indices saw negative trend till then with the DS30 index, comprising blue chips, lost 1.61 points to reach at 2,246 and the Shariah Index (DSES) shed 0.54 points to stand at 1,341 points till then.

Turnover, another important indicator of the market, stood at Tk 2.08 billion within the first 30 minutes of trading at 10:30 am.

Of the issues traded till then, 130 advanced, 165 declined and 50 remained unchanged on the DSE trading floor till then.

BD Finance was the most traded stock till then with shares worth Tk 191 million changing hands, closely followed by Sonali Life Insurance, Beximco, LafargeHolcim, and Alif Manufacturing Company.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened on a negative note with CSE All Share Price Index- CASPI-losing 11 points to stand at 17,990, also at 10:30 am.

Of the issues traded till then 42 advanced, 53 declined and 10 remained unchanged with Tk 48 million in turnover.

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