Stocks end almost flat amid profit-booking

FE ONLINE REPORT | Sunday, 16 January 2022

Stocks ended almost flat on Sunday as cautious investors opted for booking profit on quick-gaining blue-chip issues amid the rising trend of Covid-19 cases in the country.

The market started on a positive note and the key index rose 54 points within the first 30 minutes of the trading. But the rest of the session went down steadily amid profit booking.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 2.36 points or 0.03 per cent to settle at 7,019, after gaining over 21 points in the previous day.

The DSE Shariah Index (DSES) saw a fractional gain of 0.29 points to close at 1502. However, the DSE 30 Index, comprising blue chips, dropped 17.95 points to finish at 2,598.

Turnover, a crucial indicator of the market, however, rose to Tk 15.06 billion, which was 21 per cent higher than the previous day’s tally of Tk 12.42 billion.

Market analysts said the market witnessed volatility as many investors traded cautiously amidst the rising trend of Covid-19 cases in the country.

However, investors released their holdings from blue-chip issues for opting profit on quick gaining stocks, they said.

Gainers took a modest lead over the losers, as out of 378 issues traded, 182 advanced, 151 declined and 45 issues remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk 872 million changing hands, closely followed by Fortune Shoes (Tk 749 million), RAK Ceramic (Tk 718 million), Paramount Textile (Tk 696 million), and Power Grid Company (Tk 572 million).

Aziz Pipes was the day’s top gainer, posting a 10 per cent rise while Bashundhara Paper Mills was the day’s worst loser, losing 5.16 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –gaining 21 points to settle at 20,567 and the Selective Categories Index – CSCX—advancing 12 points to close at 12,354.

Of the issues traded, 152 advanced, 115 declined and 39 remained unchanged on the CSE.

The port-city bourse traded 11.25 million shares and mutual fund units with a turnover value of Tk 424 million.

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