8 days ago

Stocks down at opening after four-day rise

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Stocks opened lower on Monday, after remaining upbeat for the past four trading days, as cautious investors opted for booking profit on quick-gaining stocks.

After the first two hours of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by more than 22 points or 0.40 per cent to 5,536 at 12:00 noon, when the report was filed.

Meanwhile, the key index soared 230 points in the past four trading days.

Market analysts said as the market gained for the past trading days, a section of investors are realigning their gains.

The blue-chip DS30 index, a group of 30 prominent companies, also fell 10 points to 1954 while the DSES index, which represents Shariah-based companies, dropped 5 points to 1,209.

Turnover, another important indicator of the market, stood at Tk 4.55 billion after the first two hours of trading.

Of the issues traded till then, 114 advanced, 240 declined, and 38 issues remained unchanged on the DSE trading floor till then.

Sea Pearl Beach was the most traded stock with shares worth Tk 212 million changing hands.

The Chittagong Stock Exchange (CSE) also saw a downturn with its All Shares Price Index (CASPI)—losing 4 points to stand at 15,708 while the Selective Categories Index – CSCX shed 6 points to reach 9,454 till then.

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