Stocks fail to stay positive at midday
Despite opening higher, stocks on both bourses failed to stay positive at midday on Sunday as risk-averse investors started to sell their holdings to avoid further losses.
Following the previous week’s sharp fall, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher with low trading activities.
Within first 25 minutes of trading, the key index of the country’s prime bourse advanced more than 30 points while the Selective Category Index of port city bourse gained 35 points at 10:45am.
After 30 minutes of trading, it slowed down somewhat and DSEX gained 13 points while the Selective Category Index of the port city bourse advanced 34 points at 11:00am.
After 90 minutes of trading, DSEX fell nearly 52 points, while the Selective Category Index of the port city bourse lost 90 points when the report was filed at 12:00 noon.
DSEX, prime index of the DSE, stood at 6,012 points, losing 52 points or 0.85 per cent at 12:00 noon.
Two other indices also saw a downward trend till then.
Of them, DS30 index, comprising blue chips, fell 11.70 points or 0.53 per cent to reach at 2,186 points, and DSE Shariah Index lost 9.98 points or 0.75 per cent to reach at 1,324 points.
Turnover, a crucial indicator of the market, stood at Tk 2.64 billion, when the report was filed at 12:00 noon.
IFAD Autos led the turnover chart with shares worth Tk 172 million changing hands, closely followed by Trust Bank Tk 156 million, Uttara Bank Tk 135 million, Shahjalal Bank Tk 115 million and ACI Tk 82 million.
Of the issues traded till then, 67 advanced, 223 declined and 28 issues remained unchanged on the DSE trading floor.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a downward trend till then with its Selective Category Index – CSCX –shedding 90 points to stand at 11,287 points, also at 12:00 noon.
Of the issues traded till then, 41 gained, 124 declined and 9 issues remained unchanged with Tk 86 million in turnover.