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The Financial Express

Stocks slide at opening after coordination meeting

| Updated: December 08, 2021 16:06:25


Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks opened marginally lower on Wednesday as the cautious investors opted for booking some profit on quick-gaining shares after the coordination meeting.

Following the previous five days’ 345 points gain, the risk-averse investors were seen bagging some profits.

Besides, no specific outcome from Tuesday's coordination meeting at the finance ministry also prompted some investors to sell-offs, market insiders said.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 8.62 points or 0.12 per cent to stand at 7,040, after the first hour of trading at 11:00 am.

Two other DSE indices also saw negative trends till then. The DS30 index, comprising blue chips, fell 13.42 points to stand at 2,646 while the Shariah Index (DSES) dropped 0.12 points to stand at 1,480 till then.

Turnover, another important indicator of the market, stood at Tk 3.11 billion within the first hour of trading at 11:00 am.

Of the issues traded till then, 189 advanced,126 declined, and 47 issues remained unchanged on the DSE trading floor.

Beximco was the most traded stock till the filing of this report with shares worth Tk 250 million changing hands, closely followed by GSP Finance, Sena Kalyan Insurance, LankaBangla Finance and Active Fine Chemicals.

The Chittagong Stock Exchange also opened marginally lower with its All Shares Price Index (CASPI)—losing 54 points to stand at 20,555 while the Selective Categories Index – CSCX shedding 35 points to reach 12,351, also at 11:00 am.

Of the issues traded till then, 57 advanced, 75 declined and 14 remained unchanged with Tk 102 million in turnover.

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