Stocks leave week's last trade almost flat
Dhaka stocks ended the week almost flat on late hours' selling pressure, which offset the gains earlier in the day.
DSEX, the benchmark general index of the Dhaka Stock Exchange, rose marginally by 2.79 points or 0.06 percent, finishing the day at 4,392.15 points.
DSES, the shariah index of the premier bourse, however, slightly declined by 2.65 points or 0.26 percent to close at 998.87.
Increased supply pressure late in the day netted the opening's upbeat vibe and left the bourse in flat territory, IDLC Investments said in its analysis.
Although the market rode on better performance of non-life insurance, textile and fuel and power companies, late-hour selling pressure rebalanced the prime index, the merchant bank said.
“In the meantime, the market absorbed slight impact of macroeconomic data like wane of current account surplus and declined remittance flow,” it added.
Between July and May, the current-account surplus dropped more than 34 percent year-on-year to $1.54 billion, LankaBangla Securities, a stockbroker, said pointing at the central bank's monetary policy announcement due in 10 days' time.
Imports grew 3.96 percent in June this year compared with 30.58 percent growth in the same month last year due to a rise in payment of bills for food products and capital machinery, it said.
Turnover, the most important indicator of the market, declined 1.26 percent to Tk 253.21 crore from the previous day.
Gainers took a strong lead over losers as 175 advanced, 87 declined and 37 issues remained unchanged out of the 299 issues that traded on the DSE. Among the major sectors, textiles gained 1.12 percent, fuel and power 0.6 percent and telecom 0.6 percent.
The telecom sector that lost 1.8 percent and the cement sector that declined 0.71 percent disappointed the investors most.
A total of 0.64 lakh trades were executed with 6.59 crore shares and mutual fund units changing hands on the Dhaka bourse.
Beximco dominated the turnover chart with 67.17 lakh shares worth Tk 23.52 crore changing hands, followed by Shahjibazar Power, Grameenphone, Peninsula Chittagong and MJL Bangladesh.
Shahjibazar Power was the day's best performer, advancing 11.44 percent, while Shandhani Insurance was the worst loser, slumping by 22.89 percent.
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