Retail investors are in despair as DSE witnesses volatility. BBN file photo
Dhaka, Bangladesh (BBN) – Bangladesh stocks are trading in the negative territory during midday trade on Sunday — the first day of Ramadan.
The market in Dhaka Stock Exchange, the prime bourse of the country, remained slow with shares worth only over BDT 150 crore changed hands so far.
Out of total trading issues, majority of stocks numbering 175 are in red, indicating pessimism.
Buying is witnessed only in small-cap issues like textile, power and IT.
At 12noon, the benchmark index of Dhaka Stock Exchange DSEX dropped 28 points or 0.6% to 5,385.
The DS30 index, comprising blue chips, declined over 9 points or 0.5% to 2,002.
The DSE Shariah Index DSES fell about 7 points or 0.7% to 1,253.
On the other hand, the Selective Category Index, CSCX, of the Chittagong Stock Exchange moved down nearly 50 points to 10,108.
Some investors were cautious ahead of the new value added tax (VAT) rate fixation, coupled with upcoming national budget and holy Ramadan, according to brokers.
During the Ramadan, the trading on both bourses – the Dhaka Stock Exchange and Chittagong Stock Exchange – started at 10:00am and will continue till 2:00pm without any break.
BBN/KS/ANS
