Stocks end flat amid volatility

Stocks closed the week almost flat, as investors went for profit booking from the gains of the previous two days.

DSEX, the benchmark index of Dhaka Stock Exchange, declined 3.72 points or 0.07 percent, finishing the last day of the week at 4,676.08 points. After two consecutive positive sessions, the market took a slight negative tilt amid a surge of volatility, IDLC Investments said.

“Starting on a negative tone, the market gained momentum during the mid-session which was eventually wiped out as some investors went for profit booking from the short trail of gain in the recent past,” the merchant bank said.

The recent upward trend slowed down yesterday, LankaBangla Securities said in its regular analysis.

“Most of the large-cap securities did not experience a significant rise or decline. Top gainers and top losers of the day mostly consist of mid-cap and small-cap stocks,” the stockbroker said.

Turnover, another important indicator of the market, also remained almost flat after declining only 1.9 percent to Tk 643.42 crore, with 16 crore shares and mutual fund units changing hands on the DSE.

Of traded issues, 147 advanced, 134 declined with 41 securities closing unchanged on the premier bourse.

United Power Generation and Distribution Company domina-ted the turnover chart with 26.25 lakh shares worth Tk 41.76 crore changing hands, followed by Beximco, Beximco Pharma, Aftab Automobiles and Khulna Power Company.

Among the major sectors, fuel and power rose 0.93 percent in market capitalisation, followed by banks that gained 0.15 percent and textile 0.12 percent.

Conversely, the food and allied sector declined 1.73 percent, followed by non-bank financial institutions 0.49 percent, pharma 0.45 percent, cement 0.37 percent and telecom 0.17 percent.

EXIM Bank 1st Mutual Fund was the day's best performer with 9.43 percent in gains, while Pragati Insurance was the worst loser, shedding by 4.42 percent.

Chittagong stocks also closed almost flat yesterday with the bourse's benchmark index, CSCX, falling 3.06 points or 0.03 percent to finish the last day of the week at 8,685.31 points.

Gainers beat losers as 100 advanced, 99 declined and 40 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 1.22 crore shares and mutual fund units worth Tk 39.63 crore in turnover.