Stocks opened lower on Monday, extending losses for a second straight session as investors opted for profit-taking following a strong five-session rally while assessing the potential impact of the proposed amendments to the margin financing rules.
By 11:10 am, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), had fallen 34 points, or 0.58 per cent, to 5,821.
Market analysts said the recent rally prompted many short-term investors to lock in gains, while uncertainty over the proposed changes to the margin financing rules also weighed on sentiment, triggering broad-based selling pressure in early trading.
Turnover remained subdued, with transactions worth Tk 2.86 billion recorded on the premier bourse during the first 70 minutes of trading, indicating a cautious stance among investors.
Market breadth turned negative, with 231 issues declining, 97 advancing and 57 remaining unchanged by 11:10 am.
The Chittagong Stock Exchange (CSE) also traded lower in early dealings. Its benchmark index, CASPI, shed 28 points to 15,719, while the CSCX index fell 20 points to 9,618.
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