Stocks nearly flat in early trade on Wednesday as worsening pandemic situation, floor price system, and disappointment over the proposed budget kept the investors away from the trading activities.
Within 30 minutes of trading, DSEX shed 0.01 point while the CSE All Share Price Index (CASPI) of port city’s bourse shed 2.58 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went down by 0.01 point to stand 3,963 points at 10:30 am.
The DSE core index is hovering between 3,950 and 3,970 points in the past two weeks as most of the sellers find almost no buyers amid growing tension over the Covid-19 pandemic and floor price limitation.
Two other indices also saw fractional loss till then. The DS30 index, comprising blue chips, fell 0.08 point to reach at 1,326 and DSE Shariah Index shed 0.18 point to stand at 918 points till then.
Turnover, the important indicator of the market, stood at Tk 73 million on DSE when the report was filed at 10:30 am.
Analysts said the market remained standstill as the pandemic situation is not improving and no positive signal for the capital market investors in the proposed budget while floor price limited kept the investors at bay.
Beximco Pharma was the most traded stocks till then with shares worth Tk 18 million changing hands, closely followed by GlaxoSmithKline, JMI Syringes, GP, and NCC Bank.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw the downturn till then with the CSE All Share Price Index- CASPI-losing 2.58 points to stand at 11,245 points, also at 10:30 am.
The Selective Category Index – CSCX – also shed 2.15 points to stand at 6,811 points till then.
Of the issues traded till then, 3 advanced, 7 declined and 28 issues remained unchanged with Tk 102 million in turnover.