Stocks slide at opening after three-day gains

FE ONLINE REPORT | Monday, 6 December 2021

Stocks opened marginally lower in the early hours of trading on Monday as cautious investors were in short-term profit tendency after three days' rise.

Following the previous three days’ rising trend, DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell 26.05 points or 0.37 per cent to stand at 6,939, after the first hour of trading at 11:00 am.

Two other DSE indices also witnessed a falling trend till then. The DS30 index, comprising blue chips, dropped 19.51 points to stand at 2,618 and the Shariah Index (DSES) lost 3.75 points to stand at 1,457 till then.

Turnover, another important indicator of the market, stood at Tk 2.04 billion within the first hour of trading at 11:00 am.

Market analysts said as the market rose sharply in the past three consecutive sessions; some investors went on booking profit on quick-gaining stocks.

Of the issues traded till then, 169 advanced, 145 declined and 35 issues remained unchanged on the DSE trading floor.

Sena Kalyan Insurance was the most traded stock till the filing of this report with shares worth Tk 194 million changing hands, closely followed by Makson Spinning Mills, Beximco, Alif Manufacturing and First Security Islami Bank.

The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 35 points to stand at 20,380 while the Selective Categories Index – CSCX shedding 21 points to reach 12,253, also at 11:00 am.

Of the issues traded till then, 61 declined, 43 advanced, and 12 remained unchanged with Tk 54 million in turnover.

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