Stocks close almost flat for second day
Dhaka stocks closed almost flat for a second day with prices of majority shares going down.
The benchmark index of the Dhaka Stock Exchange, DSE General Index, slightly rose 1.5 points, or 0.05 percent, to 2849.67 points, while the DSE All Share Price Index marginally gained 0.4 points, or 0.01 percent, to 2406.25 points.
Insiders said the market rose very slightly as the investors booked profit for a third day following a five day's gain. Apart from this, some investors also started withdrawing money by selling their stocks, especially for Eid shopping, they said.
“Like past few years, a lean period continues during the month of Ramadan. However, the market generally witnesses upward trend just a week before Eid,” said Moin Al Kashem, senior vice president of a merchant bank.
In the opening hour yesterday the market stayed positive and gained around 8 points. In the next 60 minutes the situation reversed and the market lost all its gain. The market remained more or less static for the next 75 minutes. In the last 15 minutes the market marked relatively a little rapid rise. Finally, the market closed at flat mood with the DGEN gaining only 1.5 points compared to the previous day.
Most of the securities traded down on the premier bourse. Of the 224 issues traded, 80 advanced, 129 declined and 15 remained unchanged.
Almost all the banks lost, while non-banking financial institutions had a mixed day.
Mutual funds had a relatively good day with most of those gaining.
Most of the companies in fuel, power and insurance sectors lost, while almost all major players in the pharmaceutical sector gained.
The turnover, however, increased to Tk 314.10 crore from previous day's Tk 272.05 crore. A total of 2,25,32,355 shares traded on the DSE.
Total market capitalisation also rose to Tk 99,407.11 crore from the previous day's Tk 99,394.08 crore.
Titas Gas topped the turnover table with the trading of 8,27,000 shares worth Tk 42.42 crore.
The day's other turnover leaders were Beximco, ICB 2nd NRB Mutual Fund, Grameen 1 Scheme 2, ACI, Lanka Bangla Finance, AIMS 1st Mutual Fund, Beximco Pharma, Square Textiles and Uttara Bank.
Chittagong stocks finished slightly down. The CSE Selective Categories Index lost 10.33 points, or 0.18 percent, to 5685.09 points. The CSE All Share Price Index declined 15.63 points, or 0.17 percent, to 8703.25 points.
A total of 44,68,582 shares worth Tk 39.94 crore changed hands on the port city bourse. Of the 132 traded issues, 42 gained, 84 declined and six remained unchanged.
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