Stocks end flat

The premier bourse of the country closed marginally higher yesterday amid price corrections.

The DSEX, the benchmark index of Dhaka Stock Exchange, gained 2.76 points or 0.04 percent ending the day at 5,793.05. The upward revision in the gross domestic product (GDP) growth has put a positive impact on investor sentiment, said EBL Securities in its daily market review.

GDP growth in fiscal 2017-18 is likely to be 7.65 percent, up from 7.28 percent a year earlier, as per the estimate of the Bangladesh Bureau of Statistics. Planning Minister AHM Mustafa Kamal unveiled the provisional estimates on Tuesday.

Turnover, an important indicator of the market, however, declined 2 percent to Tk 546.68 crore, with 15 crore shares and mutual fund units changing hands.

Of the traded issues, 147 advanced and 152 declined while 37 securities remained unchanged.

Brac Bank dominated the turnover chart with 48.87 lakh shares worth Tk 49.23 crore changing hands, followed by Ifad Autos, Unique Hotel, Beximco, and Aamra Networks. Among the major sectors, life insurance rose 4.04 percent, followed by general insurance that increased 0.47 percent and textile 0.18 percent.

Conversely, banks declined 0.36 percent and financial institutions fell 0.23 percent.

Rupali Life Insurance was the day's best performer with 9.97 percent gain followed by Nitol Insurance, Monno Jute Stafflers and Renwick Jajneswar.

CAPM IBBL Mutual Fund was the day's worst loser, declining 6.03 percent followed by Dulamia Cotton, Islami Bank Bangladesh and Central Insurance.

The port city bourse declined with its benchmark index, CSCX, shedding 3.86 points to finish the day at 10,784.56. Losers beat gainers as 85 advanced and 122 declined while 27 finished unchanged on the Chittagong Stock Exchange. The port city bourse traded 70.10 lakh shares and mutual fund units worth Tk 18.15 crore.