Stocks witness a downturn in early hours of trading as major stocks plunge
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Stocks witnessed a downturn in the early hours of trading on Monday, after a single-day break, as risk-averse investors were mostly in selling mode amid the prevailing volatility in the market.
The market failed to stay upbeat as the large-cap stocks such as BAT Bangladesh, GP, Power Grid, Walton, Robi and Square Pharma saw price correction in early trading.
Following the previous day’s sharp gain, the market opened lower and the key index of the Dhaka Stock Exchange (DSE) went down by 29 points or 0.51 per cent to 5,586, after two hours of trading at 12:00 noon, when the report was filed.
The DSES Index, which represents Shariah-based companies, also lost 8 points to 1,225. However, the blue-chip index DS30, a group of 30 prominent companies, saw 3 points rise to 1998 till then.
Turnover, a crucial indicator of the market, stood at Tk 3.66 billion after the first two hours of trading.
Of the issues traded, 132 advanced, 213 declined and 42 remained unchanged till then.
The Chittagong Stock Exchange (CSE) also opened lower with the CSE All Share Price Index – CASPI –losing 25 points to 15,974, also at 12:00 noon.