Bangladesh
4 years ago

Stocks witness downturn amid thin participation

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Stocks witnessed a downward trend in early trading on Tuesday amid a thin participation of investors as growing tension over the Covid-19 scare and floor price mechanism kept the investors on the side lines.

Within 30 minutes of trading, DSEX fell more than 2.0 points while the CSE All Share Price Index (CASPI) of the port city’s bourse lost 7.0 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went down by 2.23 points, or 0.05 per cent, to stand at 3,956 points at 11:00am.

The DSE core index have been hovering between 3,953 and 3,969 points for the last 10 sessions, with most investors remaining reluctant to make any fresh investment amid the worsening situation of the deadly virus.

Two other indices also saw a fractional loss till then. Of them, DS30 index, comprising blue chips, fell 0.89 points to reach 1,323 and DSE Shariah Index lost 0.56 points to stand at 917 points till then.

Turnover, an important indicator of the market, stood at Tk 90 million on DSE when the report was filed at 11:00am.

Market analysts said the budget failed to meet investors’ expectations amid the growing tension over the Covid-19 pandemic. Besides, the floor price mechanism kept investors reluctant to put fresh stakes in stocks.

Beximco was the most traded stocks till then with shares worth Tk 18 million changing hands, closely followed by Beximco Pharma, Linde BD, Central Pharma and Indo-Bangla Pharma.

The port city’s bourse – Chittagong Stock Exchange (CSE) – also saw a downturn till then with its All Share Price Index (CASPI) losing 7.0 points to stand at 11,231 points, also at 11:00am.

The Selective Category Index – CSCX – also fell 4.0 points to stand at 6,804 points till then.

Of the issues traded till then, two advanced, eight declined and 16 issues remained unchanged with Tk 3.0 million in turnover.

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