Dhaka, Bangladesh (BBN) - Bangladesh’s stocks opened nearly flat on Tuesday as investors mostly cautious amid lack of clear market direction and gas price hike.
US President Donald Trump abruptly backed down last week in his global trade war with a 90-day tariff pause for most countries ---but the government raised 33 per cent gas price on Sunday.
Moreover, the ongoing upward trend of yields on government securities also made investors cautious in putting money in stocks at this time.
Following these development, the prime index of the Dhaka Stock Exchange (DSE), went up by 0.83 points or 0.01 percent to 5,170 at 11:00am, when the report was filed.
The DS30 index, a group of 30 prominent companies, shed 5 points to 1,907 while the DSES index, which represents Shariah-based companies, saw a fractional gain of 0.13 point to 1,166 till then.
Turnover, another important indicator of the market, stood at BDT 1.40 billion till then.
Of the issues traded till then, 168 advanced, 126 declined, and 90 issues remained unchanged on the DSE trading floor till then.
Beximco Pharma was the most traded stock with shares worth BDT 100 million changing hands till then.
On the other hand, the Chittagong Stock Exchange saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 20 points to 14,490 while the Selective Categories Index – CSCX rose more than 15 points to 8,824 till then.
BBN/SSR/BB