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Stocks opened lower on Monday as investors opted to book profits following a strong rally driven by recent regulatory changes and renewed optimism in the capital market.
The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, fell 4 points, or 0.07 per cent, to 5,525 after one and a half hours of trading at 11:30 am when the report was filed.
Market analysts said the early decline was mainly due to profit-taking, as many investors chose to lock in gains after the market's recent advance pushed the benchmark index to a multi-month high.
Despite the initial downturn, trading activity remained buoyant. Turnover on the premier bourse stood at Tk 4.24 billion by 11:30 am, indicating continued investor participation amid improving market sentiment.
Analysts said the broader market outlook remains positive, supported by renewed investor confidence following recent changes in the securities regulator and expectations of reforms aimed at strengthening the capital market.
However, they cautioned that intermittent profit-taking is natural after a sharp rise in share prices and could trigger short-term volatility.
Market participants will closely monitor the day's trading to assess whether bargain hunters emerge to absorb the selling pressure and help the market recover from the early losses.
Of the issues traded by then, 135 advanced, 172 declined and 83 remained unchanged.
General Insurance emerged as the most-traded stock, with shares worth Tk 140 million changing hands by 11:30 am.
The port city bourse, the Chittagong Stock Exchange (CSE), also witnessed a negative trend in early trading. Its All Share Price Index (CASPI) lost 23 points to 15,375, while the Selective Categories Index (CSCX) shed 11 points to 9,454.
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