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Stocks opened lower on Monday as risk-averse investors opted for booking profit on quick-gaining shares.
After the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by more than 39 points or 0.75 per cent to 5,207 at 11:00am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, also dropped more than 12 points to 1,865 while the DSES index, which represents Shariah-based companies, fell 6 points to 1,139.
Market analysts said after a sharp gain in the past five days, cautious investors are booking profit on recently rallied stocks.
Besides, stock scam news of revenue officer Matiur Rahman also dissapinted many investors to put fresh bets.
Turnover, another important indicator of the market, stood at Tk 1.28 billion after one hour of trading at 11:00am.
Of the issues traded till then, 270 declined, 63 advanced, and 48 issues remained unchanged on the DSE trading floor till then.
Linde BD was the most traded stock till then, with shares worth Tk 140 million changing hands.
The Chittagong Stock Exchange also opened lower with its All Shares Price Index (CASPI)—losing 58 points to stand at 14,763 while the Selective Categories Index – CSCX lost 35 points to reach 8886 also at 11:00am.