Stocks open marginally lower on profit-booking

Stocks opened marginally lower on Thursday as risk-averse investors opted for booking on quick gaining stocks.

Following the previous day’s rise, the market opened slightly lower and DSEX, the prime index of the DSE, went down by 4.95 points or 0.08 per cent to reach at 5,868 within the first 30 minutes of trading when the report was filed at 10:30 am.

Two other indices saw a negative trend till then with the DS30 index, comprising blue chips, lost 2.72 points to reach 2,198 and the Shariah Index (DSES) shed 1.60 points to stand 1,280 points till then.

Turnover, another important indicator of the market, stood at Tk 4.38 billion within the first 30 minutes of trading at 10:30 am.

Market operators said cautious investors opted for booking profit on stocks which saw a substantial gain in the past few days.

However, some investors remained hopeful about the market amid lower return from the money market, easing virus worries coupled with an extension of margin loan cap implementation time for another six months, said a merchant banker.

Of the issues traded till then, 170 declined, 170 advanced and 60 remained unchanged on the DSE trading floor till then.

Beximco was the most traded stock till then with shares worth Tk 770 million changing hands, closely followed by LankaBangla Finance, NRB Commercial Bank, AB Bank, and GBB Power.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened marginally lower with CSE All Share Price Index- CASPI-losing 36 points to stand at 17015, also at 10:30 am.

Of the issues traded till then 77 declined, 43 advanced and 24 remained unchanged with Tk 127 million in turnover.

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