Pandemic worries linger on stock market

Sunbd Desk || Published: 2020-06-18 11:35:11 || Updated: 2020-06-18 11:42:07

Turnover at the DSE trading floor has jumped again by 44 percent to Tk48.41 crore during the first session of trading

Bourses have posted losses on Thursday in the first one-and-half-hour of trading as the country has been reporting record breaking Covid-19 updates repeatedly, leaving the panic-driven investors mostly active on the selling side.

DSEX, the prime index at the Dhaka Stock Exchange (DSE), slipped 2.53 points – or 0.06 percent to reach at 3959 till 11:30 am.

Besides, the Shariah-based DSES index has slightly decreased by 0.12 points to settle at 918, while the blue-chip index DS30 went down 1.07 points to stand at 1,324.

However, turnover at the DSE trading floor has jumped again by 44 percent to Tk48.41 crore during the first session of trading.

Out of the 175 issues traded today, only 9 company’s share prices advanced, 19 declined, and 147 remained unchanged.

The port city bourse Chittagong Stock Exchange (CSE) key index also slumped today. CASPI, the key index of CSE, lost 3.03 points to close at 11,256.

According to the Market commentary of EBL Securities Ltd, the worsening pandemic situation has made the market almost buyer-less in recent days as the outbreak is going to have a long-lasting adverse impact on the country’s economy.

Meanwhile the BSEC will withdraw floor price mechanism soon to ensure free price movements of stocks.

Prof. Md. Mizanur Rahman, a commissioner of the securities regulator, disclosed this while joining a virtual press briefing on budget reactions of Chittagong Stock Exchange (CSE) on Wednesday (June 18).

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