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The Financial Express

Stocks open lower as investors mostly cautious  

| Updated: June 05, 2020 10:07:08


Stocks open lower as investors mostly cautious   

Stocks witnessed downturn at opening on Thursday investors’ concerns over the worsening coronavirus situation and the floor prices mechanism kept the market almost muted.

Within first 30 minutes of trading, DSEX fell more than 5.0 points while the Selective Category Index of port city bourse lost 15 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went down by 5.75 points or 0.14 per cent to stand at 3957 points at 11:00am.

Two other indices also fell marginally till then. The DS30 index, comprising blue chips lost 3.10 points to 1325. The DSE Shariah Index (DSES) shed 1.32 points to stand at 917 points till then.

Turnover, the important indicator of the market, stood at only Tk 85 million when the report was filed at 11:00am.

Market analysts said the country’s stock market has become almost buyer less as investors were concerned about the long-lasting impact of the pandemic on the country’s overall economy and their incomes.

Amid the downward trend, share prices of more than two-third of the companies have already hit their respective lowest ceilings but investors remained reluctant to buy shares.

Of the issues traded till then, 8 advanced, 29 declined and 171 remained unchanged as transactions take placed based on the floor price of the shares.

Beximco Pharma was the most traded stocks till then with shares worth Tk 8.0 million changing hands, followed by GP, Bangladesh Submarine Cable, Central Pharma and Square Pharma.

The Chittagong Stock Exchange also saw downward trend till then with its All Shares Price Index (CASPI)—losing 25 points to reach at 11,256 and the Selective Categories Index - CSCX –shedding 15 points to finish at 6,819 at 11:00am

Of the issues traded till then, 2 gained, 10 declined and 26 remained unchanged on the CSE with turnover of Tk 3.0 million.

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