Stocks opened lower on Sunday as jittery investors sold their holdings to avoid further losses amid growing political tension ahead of national election.
The market remained bearish for over a year since the stock market regulator imposed floor prices coupled with growing macroeconomic concerns and escalating political tensions, has compounded the market’s challenges, market operators said.
Following the previous week’s fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 9.12 points to 6,247 after the first two of trading at 12:00 noon.
The DS30 Index, which consists of blue-chip companies, also lost 6 points to 2,112 and the DSES index, which represents Shariah-based companies, shed 4 points to 1,355 till then.
Turnover remained low and total turnover stood at Tk 2.25 billion after the first two hours of trading.
Small-cap stock Fu-Wang Ceramic became the most-traded stocks till then with shares worth Tk 340 million changing hands, followed by Central Pharma, Khulna Printing, Monno Ceramic and Eastern Insurance.
Of the issues traded till then, 56 advanced, 84 declined and 119 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also opened lower with the CSE All Share Price Index – CASPI – losing 1 point to 18,541 after two hours of trading.