Stocks open flat over worsening pandemic view

Turnover on the DSE trading floor jumped by 49 percent to Tk34.12 crore in the first session

The key indices of the country’s two main bourses have slightly declined in the early hours of trading today due to economic uncertainty over the worsening pandemic situation.

In a review, a brokerage house said that the market has witnessed a prolonged dull period as investors’ worries grew over the worsening pandemic situation in the country with looming uncertainty over economic growth.

They further said, “Peoples are losing their jobs, facing salary cuts due to business losses amid pandemic. Under these circumstances, investors are facing a liquidity crisis to put money into the stock market.”

In the first one-and-half-hour of the trading, DSEX, the prime index at the Dhaka Stock Exchange (DSE), slightly decreased by 0.09 points – or 0.002 percent – to reach at 3,969.

However, the Shariah-based DSES index slightly increased by 1.10 points to settle at 920, while the blue-chip index DS30 went down 0.24 points to stand at 1,330.

Turnover on the DSE trading floor jumped by 49 percent to Tk34.12 crore in the first session.

Out of the 237 issues traded during the same time frame, only 33 company’s share prices advanced, 15 declined, and 189 remained unchanged.

Meanwhile, the benchmark index CASPI at the Chittagong Stock Exchange (CSE) has lost 1.81 points to close at 11,262 till 11:30am.