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The Financial Express

Stocks slide at opening after three-day gain

| Updated: January 04, 2022 12:33:06


Investors react while monitoring stock price movements on TV and computer screens at a brokerage house in the capital city — FE/Files Investors react while monitoring stock price movements on TV and computer screens at a brokerage house in the capital city — FE/Files

Stocks opened marginally lower on Tuesday as the cautious investors were opting profit on quick-gaining issues amid tension over the new coronavirus variant Omicron.

Following three days’ gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped by 11.13 points or 0.16 per cent to stand at 6,871, after the first hour of trading at 11:00 am on Tuesday.

Two other DSE indices also saw a negative trend till then. The DS30 index, comprising blue chips, lost 11.02 points to reach 2,565 points and the Shariah Index (DSES) fell 3.82 points to stand at 1,447.

Market analysts said a section of investors is opting for booking profit on quick gaining stocks amid growing tension over the coronavirus new variant Omicron.

Turnover, another important indicator of the market, stood at Tk 2.82 billion within the first hour of trading at 11:00 am.

Of the issues traded till then, 159 declined, 142 advanced, and 60 issues remained unchanged on the DSE trading floor.

Bangladesh Shipping Corporation was the most traded stock till the filing of this report with shares worth Tk 328 million changing hands, closely followed by Beximco, Sonali Paper, Lovello Ice-cream and Fareast Life Insurance.

The Chittagong Stock Exchange opened marginally lower with its All Shares Price Index (CASPI)—losing 9.72 points to stand at 20,147, while the Selective Categories Index – CSCX shedding 7.47 points to reach 12,097, also at 11:00 am.

Of the issues traded till then, 54 advanced, 49 declined, and 18 remained unchanged with Tk 49 million in turnover.

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