Stocks witness downturn in early trading Sunday

FT ONLINE

The prices of most of the stocks witnessed a downward trend in the early hour of trading on Sunday amid pre-Eid sale pressure.

Brokers said a section of investors preferred to take some profits ahead of Eid-ul-Azha holidays.

Following the previous week’s flat movement, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid low trading activities.

Within first 15 minutes of trading, DSEX, the key index of the country’s prime bourse advanced nearly 8.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 9.0 points at 10:45am.

After 30 minutes of trading, the DSEX fell more than 10 points while the CASPI of Chattogram bourse lost 5.0 points at 11:00am when the report was filed.

The DSEX went down by 10.68 points or 0.19 per cent to reach at 5,396 points at 11:00am.

The DS30 index, comprising blue chips, also fell 1.50 points to reach at 1,891 points.

The DSE Shariah Index fell 0.34 points to reach at 1,245 points till then.

Turnover, the important indicator of the market, stood at Tk 1.27 billion when the report was filed.

BBS Cables was the most traded stocks till then with shares worth Tk 128 million changing hands, closely followed by Paramount Textile Tk 100 million, Saiham Textile Tk 66 million, Regent Textile Tk 63 million and Fu-Wang Food Tk 58 million.

Of the issues traded till then, 111 advanced, 110 declined, and 55 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange also saw a downward trend till then with the CASPI losing 5.0 points to stand at 16,625, also at 11:00am.

The Selective Category Index (CSCX) also fell 2.93 points to stand at 10,065 points till then.

Of the issues traded till then, 43 gained, 30 declined, and 14 issues remained unchanged with Tk 25 million in turnover.