Stocks end flat amid cautious trade
Stocks closed almost flat yesterday with marginal fall in the price index amid cautious participation of investors.
DSEX, the benchmark index of Dhaka Stock Exchange, fell only 9.28 points or 0.2 percent finishing the day at 4,526.71 points.
The Dhaka bourse's trades were mostly mixed, after the previous two days of negative movement, LankaBangla Securities said. “Traders were reluctant to take fresh positions in the market,” it said.
However, few blue-chip stocks were actively traded as current market prices of those enticed investors, the stockbroker said.
IDLC Investments said the bourse observed a mildly negative session, as investors were apprehensive of a gloomy market outlook in the near future.
As the month of June has passed, annual declarations of many companies are due, the merchant bank said.
“As a full quarter of the financial year was lost to political violence, investors needed to be cautious to determine what to expect from the ensuing declarations,” it added.
Turnover, an important indicator of the market, also fell 9.6 percent to stand at Tk 423.32 crore on transactions of 11.31 crore shares and mutual fund units.
Of the traded issues, 116 advanced, 166 declined with 39 securities finishing the day unchanged on the premier bourse.
United Airways dominated the turnover chart with 2.55 crore shares worth Tk 27.81 crore changing hands, followed by Khan Brothers PP Woven Bag Industries, Beximco, Olympic Accessories and Appollo Ispat Complex.
Mutual funds gained 0.96 percent in market capitalisation, followed by cement that increased 0.9 percent and pharma 0.48 percent.
Conversely, fuel and power lost 0.98 percent, followed by non-banking financial institutions 0.81 percent and bank 0.43 percent.
Sonali Aansh was the day's best performer, advancing 9.97 percent while Pragati Life Insurance was the worst loser, slumping 9.37 percent.
Chittagong stocks also fell slightly yesterday with the bourse's benchmark index, CSCX, falling 10.89 points to 8,487.52.
Losers beat gainers as 117 retreated and 87 advanced, while 40 closed unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.18 crore shares and mutual fund units, generating a turnover of Tk 35.02 crore.
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