Stocks down at opening after two-day rise

Stocks opened lower on Wednesday, after remaining upbeat for the past two trading days, as cautious investors opted for booking profits on quick-gaining stocks.

Market operators said investors mostly remained cautious and closely watching the Middle East war before making any investment decision.

After the 30 minutes of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by more than 9 points or 0.18 per cent to 5,280 at 11:00 am, when the report was filed.

Meanwhile, the key index recovered 280 points in the past two trading days after losing around 600 points due to the US-Iran war.

Market analysts said as the market gained in 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 6 points to 2,033 while the DSES index, which represents Shariah-based companies, dropped 3 points to 1,062.

Turnover, another important indicator of the market, stood at Tk 1.60 billion till then.

Of the issues traded till then, 169 advanced, 120 declined, and 89 issues remained unchanged on the DSE trading floor till then.

City Bank was the most traded stock till then with shares worth Tk 105 million changing hands.

The Chittagong Stock Exchange, however, saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 29 points to stand at 14,840 while the Selective Categories Index – CSCX rose 9 points to reach 9,073 till then.

babulfexpress@gmai.com