Stocks mixed in early trading as Ramadan begin

Stocks witnessed mixed trend in earnings trading on Sunday as investors were active on both sides of the trading fence amid reduced trading time during holy Ramadan.

Bourses have cut 40 minutes of trading time during Ramadan as trading will take place from 10:00 am to 1.50 pm, including 10 minutes of post-closing sessions, during the Ramadan instead of the regular trading time from 10:00 am to 2:30 pm.

Market insiders said a section of investors traded cautiously as Ramadan began, while some continued to chase to take positions in the trendy large-cap stocks riding on declining trends of Treasury yields and bank interest rates.

Following the previous day’s marginal fall, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 2.72 points, or 0.05 per cent to 5,250 at 11:30 am, when the report was filed.

The DS30 index, a group of 30 prominent companies, also gained 1 point to 1,906 while the DSES index, which represents Shariah-based companies, also gained 2 points to 1,168 till then.

Turnover, another important indicator of the market, stood at Tk 1.71 billion.

Of the issues traded till then, 188 advanced, 109 declined, and 86 issues remained unchanged on the DSE trading floor.

Orion Infusion was the most traded stock, with shares worth Tk 99 million changing hands.

However, the Chittagong Stock Exchange (CSE) saw a downward trend till then with its All Shares Price Index (CASPI)—losing 23 points to 14,609 while the Selective Categories Index (CSCX) dropped 16 points to 8,851.

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