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Dhaka stocks end flat after volatile trading

CSE keeps losing amid low turnover


FE Online Report | Published: September 12, 2019 15:31:23 | Updated: September 15, 2019 11:47:53


Dhaka stocks ended flat on Thursday, after suffering a big jolt in the previous day, backed by institutional support.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), saw a fractional gain of 0.71 point to settle at 4,933, after losing 100 points in the past two days.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 0.87 point to finish at 1,737 and the DSE Shariah Index gained 1.29 points to close at 1,156.

Turnover, a crucial indicator of the market, however, fell to Tk 4.05 billion, which was 19 per cent lower than the previous day’s Tk 5.02 billion.

Market analysts said despite the free-fall of stock prices stopped for the time being, most of the investors remained maintained cautious stance.

A leading broker said that the ongoing bearish trend amid lack of investors’ confidence coupled with falling export earnings in August eroded investors’ sentiments.

A total number of 131,332 trades were executed in the day’s trading session with trading volume of 89.61 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,694 billion on Thursday, from Tk 3,696 billion in the previous session.

Gainers took a modest over the losers as out of 354 issues traded, 158 closed higher, 137 ended lower and 59 remained unchanged on the DSE trading floor.

JMI Syringes topped the turnover chart with shares worth Tk 215 million changing hands, followed by National Tubes, Monno Jute Stafflers, Monno Ceramic and Stylecraft.

Usmania Glass was also the day’s best performer, posting a gain of 9.98 per cent while Sunlife Insurance was the day’s worst loser, plunging by 6.49 per cent.

However, the port city’s bourse, the Chittagong Stock Exchange, kept losing with its All Shares Price Index (CAPSI) -- CASPI—shedding 32 points to close at 14,982 and the Selective Categories Index - CSCX – losing 19 points to finish at 9,095.

The losers beat the gainers as 115 issues closed lower, 89 higher and 37 remained unchanged on the CSE.

The port city bourse traded 3.83 million shares and mutual fund units worth nearly Tk 124 million in turnover.

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