Stocks see slow trading as Eid holidays near

Stocks witnessed volatility in early trading on Sunday, as investors were largely reluctant to make fresh investments in the absence of any strong positive catalyst ahead of the Eid holidays.

Only one trading session is left before the Eid holidays, as the market will remain closed from March 17 to March 23 for Eid-ul-Fitr, the largest religious festival of Muslims.

Moreover, many investors remained cautious amid geopolitical uncertainty and the absence of a clear ceasefire in the Middle East.

Following the previous week’s rise, the prime index of the Dhaka Stock Exchange (DSE) went down by 4 points, or 0.06 per cent, to 5,365 at 11:00 am when the report was filed.

The DS30 index, a group of 30 prominent companies, also lost 5 points to 2,060, while the DSES index, which represents Shariah-based companies, saw a fractional gain of 0.70 points to 1,078.

Turnover, another important indicator of the market, also remained low and amounted to Tk 1.60 million until then.

Of the issues traded, 165 advanced, 157 declined, and 62 remained unchanged on the DSE trading floor until then.

Orion Infusions was the most traded stock, with shares worth Tk 67 million changing hands, followed by Summit Alliance Port and Eastern Lubricants.

The Chittagong Stock Exchange also saw a negative trend until then, with its All Shares Price Index (CASPI) losing 38 points to 14,941, while the Selective Categories Index (CSCX) shed 32 points to 9,127.

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