Stocks opened lower on Monday as cautious investors opted for booking short-term profit on sector-wise issues.
Following the previous four days’ rise, the market started on negative note and the DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 23.68 points or 0.35 to stand at 6,659, after the first hour of trading at 11:00am.
Two other indices also saw negative trend till then with the DS30 index, comprising blue chips, losing 11.05 points to reach 2,475 and the Shariah Index (DSES) shed 6.62 points to stand at 1,454.
Turnover, another important indicator of the market, stood at Tk 1.56 billion within the first hour of trading.
Market operators said the risk-averse investors made profits on quick-gaining stocks as the market surged in the last four trading days.
Of the issues traded till then, 208 declined, 118 advanced, and 41 issues remained unchanged on the DSE trading floor till then.
Orion Pharma was the most traded stock till then with shares worth Tk 131 million changing hands, closely followed by Beximco, BSC, JMI Hospital Requisite Manufacturing and Genex Infosys.
The Chittagong Stock Exchange also saw downward trend till then with its All Shares Price Index (CASPI) losing 32 points to stand at 19,613 and the Selective Categories Index (CSCX) falling 20 points to reach 11,768 at 11:00am.
Of the issues traded till then 78 declined, 62 advanced, and 27 remained unchanged with Tk 58 million in turnover.