Stocks slip into red after single-day break

The stock slipped into the red on Wednesday after a single-day break, as investors remained cautious amid lacklustre trading activities.

Sellers dominated the trading floor as investors focused on protecting their funds from the ailing market owing to faded optimism.

The market opened higher and the key index rose about 21 points in the first hour of trading but the subsequent sell pressure wiped out the initial gains.

The DSEX, the prime index of the Dhaka Stock Exchange (DSE), finally went down by more than 4 points to settle at 6268, after gaining more than 13 points in the previous day.

Market operators said most of the investors preferred to take a ‘wait-and-see’ approach due to the prevailing volatility in the market and look for lucrative investment opportunities.

The DS30 Index, which consists of blue-chip stocks, lost more than 5 points to 2,132 while the DSES index, which represents Shariah-based companies, shed almost 2 points to 1,363.

Turnover, the crucial indicator of the market, stood at Tk 8.89 billion, which was 1.0 per cent lower than the previous day’s turnover of Tk 8.98 billion.

The majority of the traded stocks saw price fall, as out of 396 issues traded, 177 closed lower, 145 higher and 74 remained unchanged on the DSE floor.

Central Pharma became the most traded stock, with shares worth Tk 462 million changing hands, followed by Best Holdings, Fu-Wang Ceramic, Monno Fabrics, and Alif Industries.

The Chittagong Stock Exchange, however, edged higher with its All Shares Price Index (CASPI)—gaining nearly 8 points to 17,946 and the Selective Categories Index (CSCX) advanced 6 points to 10,754

Of the issues traded, 122 declined, 105 advanced and 44 issues remained unchanged on the CSE.

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