The Financial Express

Stocks fall at opening on profit booking

| Updated: May 21, 2021 10:35:48

Stocks fall at opening on profit booking

Stocks opened marginally lower on Tuesday as risk-averse investors opted for booking profits on quick-gaining issues.

Following the previous eight days’ upbeat note, the market opened on a negative note as DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 19.38 points or 0.33 per cent to 5,820, when the report was filed at 10:30 am.

Two other DSE indices saw a negative trend till then with the DS30 index, comprising blue chips, lost 4.25 points to reach 2,195 and the Shariah Index (DSES) shed 3.92 points to stand at 1,281 points.

Turnover, another important indicator of the market, stood at Tk 3.35 billion within the first 30 minutes of trading at 10:30 am.

Market analysts said the cautious investors keep booking some profits as many stock prices soared 15 to 20 per cent in the last eight consecutive sessions.

However, some investors remained active in the market amid lower return from the money market, easing virus worries coupled with the extension of margin loan cap implementation time for another six months, they said.

Of the issues traded till then, 213 declined, 88 advanced and 46 remained unchanged on the DSE trading floor.

Prime Bank was the most traded stock till then with shares worth Tk 385 million changing hands, closely followed by Crystal Insurance, Beximco, BATBC and National Feed Mills.

The port city bourse – the Chittagong Stock Exchange – (CSE) also had a negative trend till then with CSE All Share Price Index- CASPI-losing 48 points to stand at 16,875, also at 10:30 am.

Of the issues traded till then 78 declined, 36 advanced and 25 remained unchanged with Tk 62 million in turnover.

[email protected]

Share if you like