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Stocks opened lower on Wednesday with low participation of investors as investors were mostly cautious of the market’s trend due to uncertainties over the ongoing economic and political tensions.
The bourses remained sell-dominant as investment appetite remains subdued amid the market’s waning momentum, while the recently downgraded sovereign ratings of the country on Moody’s scale have further triggered the prevailing investor pessimism.
The record non-performing loans in the banking sector news also hit investors sentient.
Following the previous day’s downturn, the prime index of the Dhaka Stock Exchange (DSE), went down by 9 or 0.17 per cent to 5,333 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, lost 8 points to 1,934 while DSES index, which represents Shariah-based companies, saw a fraction loss of 0.81 point to 1,154.
Turnover, another important indicator of the market, stood at Tk 979 million till then.
Of the issues traded till then, 152 advanced, 126 declined, and 83 issues remained unchanged on the DSE trading floor till then.
Investment Corporation of Bangladesh was the most traded stock till then with shares worth Tk 58 million changing hands.
The Chittagong Stock Exchange saw a downward trend till then with its All Shares Price Index (CASPI)—losing 5 points to stand at 14,687 while the Selective Categories Index – CSCX fell 3 points to reach 8,943 till then.