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The Financial Express

Stocks witness slow trend in early trading amid virus tension

| Updated: June 05, 2020 09:59:47


Stocks witness slow trend amid virus tension

Stocks witnessed very slow trend in early hour of trading on Wednesday amid growing tension over the impacts of coronavirus pandemic in the listed companies’ earnings as well as country’s overall economy.

Within first 30 minutes of trading, DSEX advanced 1.27 points while the Selective Category Index of port city bourse fell 5.27 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 1.27 points or 0.03 per cent to stand at 3970 points at 11:00am.

Two other indices also advanced marginally till then. The DS30 index, comprising blue chips gained 2.43 points to 1332. The DSE Shariah Index (DSES) advanced 0.92 points to stand at 921 points till then.

Turnover, the important indicator of the market, stood at only Tk 110 million when the report was filed at 11:00am.

Turnover remains low as presence of investors is still thin in the brokerage houses as many investors are yet to back in Dhaka.

The brokerage houses also discourage their clients for rushing in the houses physically and inspire for executing their trade through internet based device and mobile apps due to the ongoing pandemic.

Of the issues traded till then, 19 advanced, 17 declined and 158 remained unchanged as transactions take placed based on the floor price of the shares.

The stock market regulator – the Bangladesh Securities and Exchange Commission imposed circuit breaker to boost the ailing market from March 19 last.

Pharma companies continued to lead the turnover board with Beximco Pharma was the most traded stocks till then with shares worth Tk 15 million changing hands, followed by Square Pharma, GP,  Beximco and Indo-Bangla Pharma.

However, the CSE saw downward trend till then with its All Shares Price Index (CASPI)—losing 9.0 points to reach at 11,252 and the Selective Categories Index - CSCX –shedding 5.27 points to finish at 6,817 at 11:00am

Of the issues traded till then, 4 gained, 11 declined and 27 remained unchanged on the CSE with turnover of Tk 5.0 million.

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