2 years ago

Stocks open mixed amid thin participation

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Stocks opened mixed trend on Sunday with thin participation of investors as majority shares remained stuck at floor due to lack of potential buyers.

Following the previous day’s rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 3.20 points or 0.05 per cent to 6,248, after the first hour of trading at 11:00am.

Two other indices saw positive trends till then. The DS30 index, comprising blue chips, gained 1.75 points to 2,217 and the DSE Shariah Index (DSES) rose 2.08 points to 1,372.

Turnover, another important indicator of the market, stood at only Tk 875 million after the first hour of trading.

Market insiders said the investor participation has yet to rebound across the bourse as liquidation opportunities have been squeezed since the majority of scrips are stuck at the floor, prompting investors to remain watchful.

The gloomy macroeconomic outlook and the poor financial performance of the listed companies have weakened investors’ confidence on the trading floor, they said.

Most of the traded issues remained stuck at the ‘floor price’. Of the issues traded, 56 advanced, 29 declined, and 141 issues remained unchanged on the DSE.

Sea Pearls Bach Resorts became the most traded stock till then with shares worth Tk 60 million changing hands.

However, the Chittagong Stock Exchange opened lower with its All Shares Price Index (CASPI)—losing 6.0 points to stand at 18,413 while the Selective Categories Index – CSCX shedding3.0 points to reach 11,034, also at 11:00am.

Of the issues traded till then 18 declined, 14 gained, and 24 remained unchanged with Tk 5.18 million.

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