Stocks end flat

Stocks closed almost flat yesterday, with DSEX, the benchmark index of the Dhaka Stock Exchange, declining 1.96 points or 0.04 percent, finishing the week at 4,455.28 points.

The market consistently struggled under selling pressure since it broke the 4,500 points mark, said LankaBangla Securities.

The index faced a sharp correction immediately after the opening, as some selected cement, mutual fund and textile stocks dragged it down, the stockbroker said.

However, the buying interest on bank and pharma stocks trimmed the losses in last hour, LankaBangla said.

Of the traded issues, 124 advanced and 149 declined with 45 securities remaining unchanged on the premier bourse.

Among the major sectors, non-banking financial institutions gained 1.44 percent in market capitalisation, followed by pharma 0.48 percent and bank 0.42 percent.

Conversely, cement lost 1.31 percent, followed by textile 0.65 percent and fuel and power 0.27 percent.

Hakkani Pulp and Paper was the day's best performer, advancing by 9.88 percent, while Kay and Que was the worst loser, slumping by 6.92 percent.

Chittagong stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 19.97 points to stand at 8,349.83. Losers beat the gainers as 133 declined and 68 advanced, while 30 closed unchanged on the Chittagong Stock Exchange.  The port city bourse traded 1.08 crore shares and mutual fund units, generating a turnover of Tk 35.04 crore.