Economic Reporter :
Stocks ended marginally lower on Wednesday after choppy trading as investors remained cautious ahead of year-end adjustment and concern over new coronavirus variant Omicron.
The market moved between positive and negative several times throughout the session before closing marginally lower. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.48 points or 0.17 per cent to settle at 6,731, after gaining 112 points in the previous two days. Two other indices also edged lower with the DSE 30 Index, comprising blue chips, shedding 1.46 points to finish at 2,522 and the DSE Shariah Index (DSES) losing 4.19 points to close at 1,427. Turnover, a crucial indicator of the market, dropped to Tk 7.35 billion, which was 15.7 per cent lower than the previous day’s tally of Tk 8.72 billion.
Market analysts said investors were struggling with a lack of confidence amid concern over omicron while the deteriorating situation between Bangladesh Bank and Bangladesh Securities and Exchange Commission regarding some policy issues affected their sentiments.
Losers took a modest lead over the gainers, as out of 377 issues transacted, 196 declined, 133 advanced and 48 remained unchanged on the DSE trading floor. Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 515 million changing hands, closely followed by Beximco, Bangladesh Submarine Cable Company, Beacon Pharma and ONE Bank.
