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Stocks end first session of new fiscal lower

FE ONLINE REPORT | Sunday, 3 July 2022


Stocks ended lower on Sunday, the first trading day of the new fiscal year (FY) 2022-23, as investors sold shares amid persistent volatility.

The market moved between positive and negative several times before ending over 17 points lower after a four-day modest gain in the last week.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 17.16 points or 0.26 per cent to settle at 6,359, after gaining 76 points in the past four trading days.

Two other indices also edged lower. The DS30 index, comprising blue chips, lost 4.37 points to finish at 2,291 and the DSE Shariah Index (DSES) fell 2.03 points to close at 1,384.

Turnover, the crucial indicator of the market, dropped sharply and amounted to Tk 6.55 billion, which was 30 per cent lower than the previous day’s tally of Tk 9.38 billion.

Market operators said volatility continued on the trading floor as investors adopted a cautious stance.

The small investors are struggling amid persistent volatility in the market while some sold shares ahead of Eid festival, they said.

Losers took a strong lead over the gainers as out of 382 issues traded, 219 declined, 120 advanced and 43 remained unchanged on the DSE trading floor.

Intraco Refueling Station was the most-traded stock with shares worth Tk 363 million changing hands.

Robi was the top gainer, posting a 9.96 per cent gain while Fu-Wang Food was the day’s worst loser, losing 2.0 per cent.

The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index – CASPI –losing 29 points to settle at 18,698 and the Selective Categories Index – CSCX –shedding 18 points to close at 11,208.

Of the issues traded, 133 declined, 100 advanced and 41 issues remained unchanged on the CSE.

The port city’s bourse traded 6.75 million shares and mutual fund units with a turnover value worth nearly Tk 174 million.

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