Stocks open lower after extended Eid break
Market breadth was broadly negative, with 247 issues declining, 48 advancing and 56 remaining unchanged.
Stocks opened on a negative note today (24 March) after a five-day Eid holiday, as investor sentiment remained cautious amid macroeconomic concerns.
In early trading up to 10:20am, the benchmark DSEX index fell 59 points to 5,294, while the blue-chip DS30 index dropped 29 points to 2,021.
Market breadth was broadly negative, with 247 issues declining, 48 advancing and 56 remaining unchanged.
Market insiders attributed the downturn to mounting concerns over inflationary pressures. Fears of potential fuel price hikes and supply disruptions, linked to ongoing tensions in the Middle East, have further dampened investor confidence.
