• Friday, August 29, 2014

Stocks end flat amid cautious investors

Star Business Report

Dhaka stocks ended the week flat with the investors remaining cautious about the market.
DSEX, the benchmark general index of the Dhaka Stock Exchange, declined marginally by 1.59 points or 0.03 percent, finishing the day at 4,592.73 points.
DSES, the shariah index of the premier bourse, however, slightly increased by 0.32 points or 0.03 percent to close at 1,020.21.
Maintaining frontline, large-cap companies fought against the offbeat sentiment and subsequently neutralised each other at market level, IDLC Investments said in its regular analysis.
As participation remained tilted towards a few heavy-weighted securities like Grameenphone, Lafarge Surma Cement and Heidelberg Cement, activities slowed a bit in stocks of other sectors, the merchant bank said.
The market remained cautious as the index wrapped the week in the red and it has been consolidating at the level of 4,600 points, commented LankaBangla Securities.
However, the stockbroker said, selective multinational companies, fast moving consumer goods and banking stocks made strong gain this week on the back of strong fundamental ground.


Turnover, the most important indicator of the market, declined 22 percent to Tk 420.81 crore from the previous day.
Losers took a marginal lead over the gainers as 133 declined, 126 advanced and 35 issues remained unchanged out of the 294 issues that traded on the DSE floor.
Among the major sectors, mutual funds gained 0.3 percent, pharmaceuticals 0.32 percent and telecom 2.8 percent.
The life insurance sector that lost 2.04 percent disappointed the investors most.
A total of 0.86 lakh trades were executed with 7.09 crore shares and mutual fund units changing hands on the Dhaka bourse.
Grameenphone dominated the turnover chart with 19.72 lakh shares worth Tk 50.27 crore changing hands, followed by Lafarge Surma Cement, Heidelberg Cement, Olympic Industries and Bangladesh Shipping Corporation.
Salvo Chemical was the day's best performer, advancing 9.79 percent, while Mercantile Bank was the worst loser, slumping by 10.16 percent.

Published: 12:00 am Friday, April 11, 2014

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