Stocks witnessed a downward trend in early trading on Monday with turnover remaining low as investors mostly followed cautious stance amid worsening pandemic situation in the country.
Within 30 minutes of trading, DSEX lost more than 3.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse fell more than 5.0 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went down by 3.23 points or 0.08 per cent to stand 3,978 points at 10:30 am.
Two other induces also saw negative trend till then. The DS30 index, comprising blue chips, fell 3.69 points to reach at 1,332 and DSE Shariah Index shed 0.73 points to stand at 920 points till then.
Turnover, the important indicator of the market, stood at Tk 198 million on DSE when the report was filed at 10:30 am.
Market analysts said the investors were worried about the adverse impact of worsening pandemic situation with looming uncertainty about economic growth and the regulator-enforced floor price system.
Lack of institutional buyers coupled with the current floor price mechanism is preventing many investors from selling shares, said a merchant banker.
Beximco Pharma was the most traded stocks till then with shares worth Tk 21 million changing hands, closely followed by Wata Chemicals, Al-Arafah Islami Bank, BSCCL and Purabi General Insurance.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also downward trend till then with the CSE All Share Price Index- CASPI-losing 5.62 points to stand at 11,300 points, also at 10:30am.
The Selective Category Index – CSCX – also lost 3.02 points to stand at 6,842 points till then.
Of the issues traded till then, 8 advanced, 7 declined and 19 issues remained unchanged with Tk 2.80 million in turnover.