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The Financial Express

Stocks slide marginally at opening

| Updated: April 28, 2021 10:21:02


Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks on both the bourses fell marginally at opening on Monday as risk-averse investors opted for booking profits on quick-gaining stocks.

The market opened slightly lower this morning as DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 5.98 points or 0.10 per cent to stand at 5,492 within the first 30 minutes of trading.

Market operators said investors are active on both sides of the trading fence as some investors opted for booking profit on stock which saw a significant gain in the past few days.

However, the enthusiastic investors, mostly institutional ones, putting fresh stakes on stocks amid eased lockdown worries, said a top broker.

Easing virus-induced lockdown worries, lucrative price levels of stocks, increased marginal loan limit coupled with lowering the circuit breaker for several companies prompted investors to put fresh funds on stocks, he said.

Meanwhile, two other DSE indices saw a positive trend till then with the DS30 index, comprising blue chips, advanced 3.70 points to reach 2,121 and the Shariah Index (DSES) rose 5.0 points to stand 1,260 points till then.

Turnover, another important indicator of the market, stood at Tk 2.70 billion within the first 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, 96 advanced, 147 declined and 77 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- was the most traded stock till then with shares worth Tk 289 million changing hands, followed by Beximco Pharma, GBB Power,  LankaBangla Finance and BD Finance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a negative trend till then with CSE All Share Price Index- CASPI-losing 20 points to stand at 15,847, also at 10:30 am.

Of the issues traded till then 53 advanced, 54 declined and 18 remained unchanged with Tk 51 million in turnover.

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