Stocks open lower amid high volatility
The market opened marginally lower with high volatility on Wednesday as the risk-averse investors sold shares for booking profit on sector specific issues.
Following the previous day’s correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.62 points or 0.17 per cent to stand at 6,653, after two hours of trading at 12:00 noon.
Two other indices also saw negative trend till then with the DS30 index, comprising blue chips, losing 0.29 points to reach 2,435 and the Shariah Index (DSES) shed 1.50 points to stand at 1,447.
Turnover, another important indicator of the market, amounted to Tk 3.65 billion after the first two hours of trading.
Market operators said as the risk-averse investors opted for booking profit on quick-gaining issues.
Of the issues traded till then, 235 declined, 89 advanced and 53 issues remained unchanged on the DSE trading floor till then.
ACI Formulations was the most traded stock till then with shares worth Tk 380 million changing hands, closely followed by JMI Hospital Requisite Manufacturing, Beximco, Shinepukur Ceramics and Eastern Housing.
The Chittagong Stock Exchange also saw a downward trend till then with its All Shares Price Index (CASPI)—losing 43 points to stand at 19,488 the Selective Categories Index – CSCX shed 25 points to reach 11,693 at 11:00am.
Of the issues traded till then 136 declined, 55 advanced and 28 remained unchanged with Tk 108 million in turnover.