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Stocks end almost flat following bumpy ride

| Updated: July 20, 2022 12:21:35


Stocks end almost flat following bumpy ride

Stocks finished almost flat on Thursday amid persistent bearish sentiment as investors mostly cautious to put fresh funds in stocks ahead of Eid vacation.

This was the last trading day before Eid holidays as the market will remain closed from Friday to Monday, including weekly holidays, on the occasion of Eid-ul-Azha.

The market moved between positive and negative several times before closing almost flat as the market lacked clear direction.

DSEX, the key index of the Dhaka Stock Exchange (DSE), inched up by 0.90 points to settle at 6,368.95, after losing over 6.0 points in the previous day.

Turnover, the crucial indicator of the market, stood at Tk 7.87 billion, which was 5.0 per cent higher than the previous day’s tally of Tk 7.46 billion.

Market operators said most investors remained cautious due to global fuel price hike and possible impact on the country’s economy.

Two other indices dropped marginally. The DS30 Index, which consists of the blue-chip companies, fell 6.09 points to close at 2,293 and the DSES Index, which represents Shariah-based companies, shed 1.30 points to finish at 1,387.

Gainers took a modest lead over the losers as out of 378 issues traded, 166 advanced, 149 declined and 63 remained unchanged on the DSE trading floor.

Sonali Paper & Board Mills was the most-traded stock with shares worth Tk 738 million changing hands, followed by IPDC Finance, Beximco, Fortune Shoes and Intraco Refueling Stations.

Zahintex Industries was the top gainer, posting a 9.63 per cent gain while non-life Meghna Insurance was the day’s worst loser, losing 1.99 per cent after steep rise recently.

The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index – CASPI –losing 2.53 points to settle at 18,746.94 and the Selective Categories Index – CSCX –shedding 2.72 points to close at 11,235.26.

Of the issues traded, 133 advanced, 119 declined and 41 issues remained unchanged on the CSE.

The port city’s bourse traded 10.65 million shares and mutual fund units with turnover value worth nearly Tk 284 million.

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