The Financial Express

Stocks slide at opening amid virus worries

| Updated: March 28, 2021 10:01:36

Stocks slide at opening amid virus worries

Stocks plummeted at the opening on Wednesday as cautious amid the rising trend of Covid-19 infections and deaths alarmingly every day.

Following the previous day’s flat ending, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower owing to a rising number of coronavirus infections.

Within the first hour of trading, the DSEX fell more than 32 points while the CSE All Share Price Index (CASPI) of port city’s bourse plunged 65 points at 11:00 am when the report was filed.

DSEX, the prime index of the DSE, went down by 32.98 points or 0.60 per cent to stand 5,380 points till then.

Two other indices also saw a downward trend till then with the DS30 index, comprising blue chips, lost 15.46 to reach at 2,048 points and the Shariah Index (DSES) slumped 6.87 points to stand 1,230 points till then.

Turnover, another important indicator of the market, stood at Tk 1.34 billion within the first hour of trading when the report was filed at 11:00 am.

Market analysts said investors remained worried as the number of deaths and infections kept rising alarmingly in recent days.

The investors adopted a cautious approach and decided to sit on cash as they favour to watch the market due to an uncertain future in the backdrop of rising Covid-19 cases, said a top broker.

Of the issues traded till then, 160 declined, 39 advanced and 100 issues remained unchanged on the DSE trading floor till then.

Beximco was the most traded stock till then with shares worth Tk 227 million changing hands, followed by Beximco Pharma, Robi, NRBC Bank, and LankaBangla Finance.

The port city bourse – the Chittagong Stock Exchange – also saw a downward trend till then with CSE All Share Price Index- CASPI-losing 65 points to stand at 15,606 while the Selective Categories Index – CSCX shedding 39 points to react 9,413, also at 11:00 am.

Of the issues traded till then 64 declined, 19 gained and 19 remained unchanged with Tk 74 million in turnover.

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