Subdued trading helps stocks end week in black

Stocks ended the week in the black amid cautious trading yesterday.

DSEX, the benchmark index of Dhaka Stock Exchange, rose 14.4 points or 0.3 percent before closing the last day of the week at 4,792.3 points.

The market saw lacklustre trading in the first hour as the investors were vigilant about the monetary policy that was announced yesterday, LankaBangla Securities said.

“The market continued to move sideways as there was no direct implication of monetary policy statement on the stockmarket,” the stockbroker said.

Bangladesh Bank made some subtle changes with no cut in the repo rate.

After seeing a subdued trade in the morning session and mixed performance in earnings news, stocks continued to perform well following the announcement of accommodative stance from Bangladesh Bank, LankaBangla said.

IDLC Investments said half-yearly earnings were mixed and investors were showing minimal reactions to favourable earnings as they were waiting for a confirmation of upbeat reversal.

Turnover, another important indicator of the market, fell by 0.1 percent to Tk 629.86 crore on transactions of 16.25 crore shares and mutual fund units.

Of the traded issues, 156 advanced and 117 declined with 41 securities closing unchanged on the premier bourse.

Lafarge Surma Cement dominated the turnover chart with 33.15 lakh shares worth Tk 41.66 crore changing hands, followed by Square Pharma, Shasha Denims, Beximco Pharma and IDLC.

BD Finance was the day's best performer with a gain of 9.7 percent, while BD Welding Electrodes was the worst loser with a 6.43 percent fall.

Chittagong stocks rose as the main index accelerated 38.4 points to 8,959.59.

Gainers beat losers as 114 advanced and 99 declined, while 35 finished unchanged on Chittagong Stock Exchange.

The port city bourse traded 1.42 crore shares and mutual fund units, generating a turnover of Tk 61.64 crore.