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Stocks opened the week with a mixed trend on Sunday as investors traded cautiously amid ongoing volatility and lack of clear direction of the market.
Following the previous week’s sharp correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 2.20 points or 0.03 per cent to stand at 6,639, after the first the first hour of trading at 11:00am.
Two other indices, however, saw positive trend till then with the DS30 index, comprising blue chips, gaining 2.10 points to reach 2,453 and the Shariah Index (DSES) advanced 2.92 points to stand at 1,456.
Turnover, another important indicator of the market, stood at Tk 1.70 billion at 11:00am.
Market insiders said investors remained cautious due to the ongoing Russia-Ukraine conflict and escalated inflationary pressure.
The investors preferred to hold onto their cash fearing a price hike of necessities further amid the ongoing global economic turmoil and holy Ramadan, said a leading broker.
Global price instabilities due to the ongoing Russia-Ukraine conflict remained a major concern over the future macroeconomic scenario of Bangladesh, he said.
Of the issues traded till then, 149 advanced, 138 declined, and 65 issues remained unchanged on the DSE trading floor till then.
Genex Infosys was the most traded stock till then with shares worth Tk 131 million changing hands, closely followed by Sonali Papers, Gemini Sea Food, Beximco and Square Pharma.
However, the Chittagong Stock Exchange opened marginally higher with its All Shares Price Index (CASPI)—gaining 11 to stand at 19,513, while the Selective Categories Index – CSCX rose 7.0 points to 11,707 at 10:30am.
Of the issues traded till then 40 advanced, 60 declined, and 22 remained unchanged with Tk 54 million in turnover.