Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed see-saw movement at midday on Monday as investors were active both sides of trading fence.
Brokers said following the central bank’s concern over the recent bullish momentum in the capital market, the investors followed cautious stance.
A section of investors sold their holdings fearing further fall, while some optimistic investors took position, taking the market volatile.
Effective surveillance is necessary so that the process of recovery from the bearish trend since 2010 remains under the regulator’s control, the central bank said in its latest monetary policy statement.
“Otherwise, investors will seriously be affected like previous times,” Bangladesh Bank Governor Fazle Kabir said while announcing the monetary policy for the second half of the fiscal year on Sunday.
After 15 minutes of trading, the key index of the DSE plunged 64 points, but next 15 minutes tried to recover some losses, but failed.
After 30 minutes of trading, DSEX, the prime index of the DSE fell 37.92 points while, the Selective Category Index of the port city’s bourse, CSCX, shed 32.78 points at 11:00am.
At 12:00 noon, DSEX lost plunged 8.28 points while the Selective Category Index of port city bourse advanced 9.79 points when the report was filed.
After one and a half hours of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE) stands at 5,492.48 points, losing 8.28 points or 0.15 per cent when the report was filing at 12:00 noon.
The two other indices also saw negative trend till then. The DS30 index, comprising blue chips fell 2.37 points or 0.11 per cent to reach at 2,000.86 points at 12:00 noon.
The DSE Shariah Index (DSES) lost 2.39 points or 0.18 per cent to reach at 1,272.40 points.
Turnover, the crucial indicator of the market, stands at BDT 5.12 billion when the report was filed at 12:00 noon riding on Baraka Power and Islami Bank.
Of the issues traded till then, 117 advanced, 171 declined and 33 issues remained unchanged on the DSE trading floor.
Baraka Power dominated the turnover chart with shares worth BDT 344 million changing hands till then, closely followed by Islami Bank BDT 245 million, Beximco BDT 224 million, LankaBangla Finance BDT 149 million and Saif Powertec BDT 135 million.
However, the port city bourse – the Chittagong Stock Exchange – (CSE) saw positive trend till 12:00 noon as its Selective Category Index – CSCX –ncing 9.79 points to stand at 10,311.55 points, also at 12:00 noon.
Of the issues traded till then, 88 gained, 112 declined and 23 issues remained unchanged with BDT 290 million in turnover.