Stocks witnessed a downward trend in early trading on Monday as shaky investors continued their selling binge on sector-wise issues amid the earning disclosure session.
Following the previous day’s major decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange opened on a negative note amid low trading activities.
Within the first 30 minutes of trading, the DSE key index lost more than 10 points while the CSE benchmark index fell also 10 points when the report was filed at 10:30am.
DSEX, the prime index of the DSE, went down by 10.83 points or 0.22 per cent to reach 4,847 points at 10:30am.
Two other indices also saw a downturn till then. Of them, DS30 index, comprising blue chips, lost 6.45 points to reach 1,641 and Shariah index (DSES) shed 2.13 points to reach 1,096 points till then.
Turnover, an important indicator of the market, stood at Tk 1.28 billion when the report was filed at 10:30am.
Market analysts said shaky investors continued their selling binge on major sector stocks as experts warned that the second wave of Covid-19 may hit Bangladesh in winter.
Meanwhile, the World Bank has forecast a lower GDP growth for Bangladesh, prompting investors to sell shares, said a leading broker.
Of the issues traded till then, 111 advanced, 143 declined and 63 remained unchanged.
The insurance sector continued to dominate the turnover chart.
Eastland Insurance Ltd was the most traded stocks till then with its shares worth Tk 130 million changing hands, closely followed by Sandhani Life Insurance, Purabi General Insurance, Northern Insurance and First Bangladesh Fixed Income Fund.
The city bourse, CSE, saw a downward trend till then with the CSE All Share Price Index (CASPI), losing 10 points to stand at 13,870, also at 10:30am.
The Selective Categories Index , CSCX, also fell 7.0 points to reach 8,330 till then.
Of the issues traded till then, 32 gained, 36 declined, and 21 issues remained unchanged with Tk 14 million in turnover.