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Stocks witnessed a downturn at opening on Monday amid low turnover as participation of investors subdued due to growing tension over COVID-19 pandemic and floor price limitation.
Within first 30 minutes of trading, DSEX, the key index of DSE, fell more than 3.0 points while the Selective Category Index of port city bourse lost 5.0 points at 11:00am when the report was filed.
The DSEX went down by 3.13 points or 0.08 per cent to stand at 3,958 points at that time.
Two other indices also fell marginally till then. The DS30 index, comprising blue chips shed 3.05 points to 1324. The DSE Shariah Index (DSES) lost 1.42 points to stand at 917 points till then.
Turnover, one of the important indicators of the market, stood at only Tk 128 million when the report was filed at 11:00am.
Market analysts said lack of institutional buyers coupled with current floor price limitation is preventing many investors from buying and selling shares at desired price which is a major reason behind the sluggish turnover.
Most of the shares remained stuck at the trading floor due to the floor price limitation and very few buyers came and picked some of the offered shares.
Of the issues traded till then, only 8 advanced, 14 declined and 153 remained unchanged as transactions took place based on the floor price of the shares.
GP was the most traded stocks till filing of this report with shares worth Tk 20 million changing hands, followed by Beximco Pharma, Reckitt Benckisher, Square Pharma and central Pharma.
The Chittagong Stock Exchange (CSE) also saw a downward trend till then with its All Shares Price Index (CASPI) losing 8.38 points to reach at 11,252 and the Selective Categories Index (CSCX) shedding 5.22 points to finish at 6,817 at 11:00am
Of the issues traded till then, 3 gained, 8 declined and 25 remained unchanged on the CSE with turnover of Tk 2.70 million.