Stocks witness choppy trading as investors mostly cautious
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Stocks witnessed volatility in the early trading as investors mostly followed cautious stance amid the ongoing price correction.FEMarket operators said investors preferred to remain cautious, closely eyeing on the draft income tax bill 2023 that was placed in the parliament on June 8, before making any fresh investment in the market.Following the previous two day’s corrections, day’s marginal correction, the key index of the Dhaka Stock Exchange (DSE) went 3.03 points to 6,307, after the first hour of trading at 11:00am.The DSES Index, which represents Shariah-based companies, dropped 0.74 points to 1,371. However, the DS30 Index, which consists of blue-chip companies, rose 3.40 points to 2,185.Trading activities remained low and stood at Tk 1.80 billion till then. Of the issues traded till then, 73 advanced, 78 declined and 126 remained unchanged on the DSE trading floor.Meghna Life Insurance was the most traded stock till the filing of this report with shares worth Tk 120 million changing hands, closely followed by Navana Pharma, Trust Life Insurance, Sea Pearl beach and Sonali Life Insurance.The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a downturn after the first hour of trading with CSE All Share Price Index- CASPI-losing 10 points to stand at 18,640, also at 11:00am.Of the issues traded till then, 19 advanced, 37 declined and 32 remained unchanged with Tk 15 million in turnover.