The Financial Express

Stocks end nearly flat amid rising turnover

| Updated: January 21, 2022 10:07:12

Stocks end nearly flat amid rising turnover

Stocks ended nearly flat on Tuesday as cautious investors opted for booking profit on quick-gaining blue chip issues amid the rising trend of virus cases in the country.

DSEX, the prime index of Dhaka Stock Exchange (DSE), witnessed a fractional rise of 0.43 point to settle at 7,055, following 59 points gained in the past two trading days.

The DSE Shariah Index (DSES) also inched up by 1.55 points to close at 1,506. However, the DSE 30 Index, comprising blue chips, dropped 8.87 points to finish at 2,598.

Turnover, a crucial indicator of the market, crossed Tk 17 billion-mark again and amounted to Tk 17.12 billion, which was 1.54 per cent higher than the previous day’s tally of Tk 16.86 billion.

Market analysts said stocks closed flat as the cautious investors opted for booking on quick-gaining blue chip stocks in the latter part of the session.

The rising Covid-19 cases prompted many investors to sell-off large-cap stocks to realise capital gain, taking the market in the flat territory, they said.

Gainers took a modest lead over the losers, as out of 378 issues traded, 184 advanced, 146 declined and 48 issues remained unchanged on the DSE floor.

The state-run Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 988 million changing hands, closely followed by Beximco, (Tk 950 million), Saif Powertec (Tk 836 million), GPH Ispat (Tk 737 million) and Fareast Islami Life Insurance (Tk 492 million).

Desh Garment was the day’s top gainer, posting a 10 per cent rise while Anlimayarn Dyeing was the day’s worst loser, losing 6.09 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –gaining 8.0 points to settle at 20,658 and the Selective Categories Index – CSCX—advancing 5.36 points to close at 12,409.

Of the issues traded, 158 advanced, 110 declined and 39 remained unchanged on the CSE.

The port city bourse traded 14.50 million shares and mutual fund units with a turnover value of Tk 595 million.

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