Stocks down at opening amid volatility

January 26, 2021 11:09:04

| Updated:

January 26, 2021 12:26:06

Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks on both the bourses witnessed a downward trend on Tuesday amid volatile trading as cautious investors continued profit booking on sector-wise issues.

Following the previous two days’ correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid low trading activities.

Within the first 30 minutes of trading, the DSEX fell more than 19 points while the CSE All Share Price Index (CASPI) of port city’s bourse dropped 66 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went down by 19.80 points or 0.34 per cent to stand at 5,770 points at that time.

Two other DSE indices also saw a negative trend till then. The DS30 index, comprising blue chips, lost 9.33 points to reach at 2,192 points while the Shariah Index (DSES) shed 7.27 points to stand at 1,289 points till then.

Market operators said profit booking on large-cap sector stocks contributed to the fall of indices.

Lower than expected earnings disclosures of some listed companies Tuesday morning posted on the DSE website also fuelled the selling binge, said a leading broker.

Turnover, another important indicator of the market, stood at Tk 2.31 billion within 30 minutes of trading when the report was filed at 10:30 am against Tk 3.12 billion in the first 30 minutes of the previous day.

Of the issues traded till then, 81 advanced, 118 declined, and 90 remained unchanged on the DSE.

Debutant Energypac Power generation was the most traded stock till then with 8.17 million shares worth Tk 793 million changing hands.

Energypac share price, however, fell 5.40 per cent to reach at Tk 87.6 till filing the report at 10:30 am, after soaring 198.7 per cent in the past five consecutive days.

Other turnover leaders were Beximco, LankaBangla Finance, Robin and Beximco Pharma.

The Chittagong Stock Exchange (CSE) also saw a downward trend with the CASPI losing 66 points to stand at 16,811, also at 10:30 am.

Of the issues traded till then, 26 gained, 38 declined, and 17 issues remained unchanged with Tk 165 million in turnover.

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