DSEX slumps below 6200-mark at opening

Date: 2023-02-26 00:00:17
DSEX slumps below 6200-mark at opening
The key index of the premier bourse dipped below 6,200-mark at opening on Sunday after two months as the investors continued their sell-off amid depressed market outlook.FEFollowing the previous week’s downturn, DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped 14.87 points or 0.24 per cent to 6,190 after 100 minutes trading at 11:40am.Turnover was also sluggish as total turnover stood at Tk 824 million till then.Investors are taking a cautious stance since the market has been concentrated on selective issues while a majority of stocks are stuck at the floor price without potential buyers, market insiders said.“The panic-driven investors dumped their holdings and preferred to hold cash on hand because of the rumors of lifting the floor prices.”Moreover, the companies that failed to meet investors’ expectations with their recent earnings disclosure have also logged corrections.Of the issues traded, 138 declined, 9 advanced and 94 remained unchanged on the DSE trading floor.Sea Pearl Beach Resorts became the most-traded stock with shares of Tk 74 million changing hands, followed by Genex Infosys, BSC, Al-Haj Textile and Aamra networks.The Chittagong Stock Exchange (CSE) also opened lower with the CSE All Share Price Index (CASPI) losing 26 points to settle at 18,308 and its Selective Categories Index (CSCX) shedding 16 points to close at 10,974 till then.Of the issues traded, only one advanced, 34 declined and 18 issues remained unchanged with a turnover value of Tk 8 million.

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