Dhaka, Bangladesh (BBN)- Bangladesh’s stocks opened sharply lower on Sunday, the first day of the week, with low participation of investors as they were mostly cautious of the market’s trend due to uncertainties over the ongoing economic and political tensions.
The news of record inflation and huge fines among market manipulators further triggered the prevailing investor pessimism, according to market operators.
Following the previous week's flat ending, the prime index of the Dhaka Stock Exchange (DSE), went down by 43 points or 0.82 per cent to 5,145 at 11:00 am when the report was filed.
The DS30 index, a group of 30 prominent companies, lost 16 points to 1,871, while the DSES index, which represents Shariah-based companies, shed 9 points to 1,155.
Turnover, another important indicator of the market, remained low and amounted to BDT 713 million till then.
Of the issues traded till then, 270 declined, 44 advanced, and 61 issues remained unchanged on the DSE trading floor till then.
Bangladesh Shipping Corporation was the most traded stock till then with shares worth BDT 42 million changing hands.
On the other hand, the Chittagong Stock Exchange saw a downward trend till then with its All Shares Price Index (CASPI)—losing 37 points to stand at 14,543, while the Selective Categories Index – CSCX fell 23 points to reach 8,848 till then.
BBN/SSR/AD