Stocks end almost flat after sharp rise in previous session

FE Online Report | Published: April 21, 2019 16:42:58 | Updated: April 23, 2019 16:40:38


Stocks ended almost flat on Sunday, after a sharp rise in the previous session, as late hours selling spree wiped out early gains.

Market analysts said the institutional investors followed cautious stance amid ongoing shortage of liquidity coupled with lack of confidence to the market.

The market opened on positive note and the key index rose more than 31 points within first hour of trading. But rest of the session eroded most of the initial gains.

At the end of the session, DSEX, the prime index of the DSE, settled at 5,323, advancing 2.32 points or 0.04 per cent over the previous day.

The DSE Shariah Index also gained 3.60 points to close at 1,231. But, the DS30 index, comprising blue chips, fell 4.63 points to finish at 1892.

Turnover, another important indicator of the market, however, remained same as total turnover stood at Tk 3.52 billion, which was also Tk 3.52 billion in the previous session.

A total number of 102,936 trades were executed in the day’s trading session with trading volume of 84.25 million securities.

The market capitalisation of the DSE also rose to Tk 3,963 billion on Sunday, from Tk 3,951 billion in the previous day.

The gainers and losers almost same as out of 345 issues traded, 143 advanced, 142 declined and 60 issues remained unchanged on the DSE trading floor.

Fortune Shoes topped the DSE turnover chart with 7.68 million shares worth Tk 286 million changing hands.

The other turnover leaders were United Power, Monno Ceramic Industries, Bangladesh Submarine Cable Company and national Tubes.

Standard Ceramic was the day’s best performer, posting a gain of 8.75 per cent while Mercantile Insurance was the worst loser, losing 6.92 per cent.

The port city bourse CSE also ended almost flat with its CSE All Share Price Index – CASPI –advancing 4.87 points to settle at 16,269 and the Selective Categories Index - CSCX –gaining 2.63 points to finish at 9,845.

The gainers beat losers, as 102 issues closed higher, 96 ended lower and 34 remained unchanged on the CSE.

The port city bourse traded 18.56 million shares and mutual fund units worth more than Tk 489 million in turnover.

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