The Financial Express

Stocks eke out some gains after choppy session

FE Online Report | Published: October 01, 2019 15:38:24 | Updated: October 02, 2019 17:33:18

Stocks eke out gains after choppy session

Stocks ended flat on Tuesday after volatile trading as investors were active both sides of trading fence.

Market analysts said a section of investors preferred booking profit while some others were busy rebalancing portfolio ahead of dividend declaration, taking the market in the flat zone.

The market opened on positive note and the key index of the major bourse rose about 20 points within first hour of trading. But profit booking sale pressure in the later part of the session led the prime index to close almost flat.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4949, advancing 1.75 points or 0.03 per cent over the previous day.

The DSE Shariah Index also gained 1.51 points to close at 1,140. However, the DS30 index, comprising blue chips, saw a fractional loss of 0.21 point to finish at 1,759.

Turnover, a crucial indicator of the market, also fell to Tk 3.04 billion, which was 49 per cent lower than the previous day’s six months highest turnover of Tk 5.95 billion.

Gainers took a modest lead over the losers as out of 352 issues traded, 183 closed higher, 113 ended lower and 56 remained unchanged on the DSE trading floor.

A total number of 100,234 trades were executed in the day’s trading session with trading volume of 105.10 million shares and mutual fund units.

The market-cap of the DSE also fell slightly to Tk 3,737 billion on Tuesday, from Tk 3,738 billion in the previous session.

JMI Syringes topped the turnover chart with shares worth nearly Tk 122 million changing hands, followed by Beacon Pharma, Bangladesh Shipping Corporation, Stylecraft and National Tubes.

Miracle Industries was the day’s best performer, posting a gain of 9.95 per cent while Mithun Knitting was the worst loser for the second straight day, plunging by 9.47 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended flat with its All Shares Price Index (CAPSI) -- CASPI—advancing 1.50 points to close at 15,048 and the Selective Categories Index - CSCX –gaining 0.34 point to finish at 9,140.

Here too, gainers beat the losers as 123 issues closed higher, 98 ended lower and 29 remained unchanged on the CSE.

The port city bourse traded 6.88 million shares and mutual fund units worth nearly Tk 295 million in turnover.


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