Stocks sluggish under the new circuit breaker

Sunbd Desk || Published: 2020-03-22 17:30:31 || Updated: 2020-03-22 17:30:31

As buyers act watchful with low appetite, sellers are more interested to capitalize the upward gap in prices

Stocks at Dhaka and Chattogram bourses began the first full trading session today under the new floor price set last week.

The floor price (circuit breaker) – not below the average closing price of five working days prior to March 19 – set for individual scrips pushed the market higher artificially compared to recently bottom hit amid pandemic fears.

However, trade markets are matchmaking the buyers and sellers. As buyers act watchful with low appetite, sellers are more interested to capitalize the upward gap in prices.

“This is the new normal in stocks until the floor is withdrawn. Let buyers and sellers get accustomed to it first, let us check how much they are interested, and then we should think liquidity,” said a stock broker.

DSEX, the key benchmark at the Dhaka Stock Exchange, went down 0.45 percent by the first 50 minutes of trading.

Among the issues traded today, 190 declined against the gains of 11 companies.

Intraday data projects a one fourth volume over the trading session, as trades were still below Tk30 crore in the first hour.

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