Dhaka stocks ended almost flat on Tuesday after high volatility as investors were active on both sides of the trading fence ahead of corporate declarations of listed companies.
The market opened on a positive note, but fell sharply by more than 50 points within the first 25 minutes of trading. However, bargain hunting on selective large-cap stocks helped the index to close in the flat.
Finally, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 3.84 points or 0.05 per cent to finish at 7,331 points.
The two other indices also edged higher. The DS30 index, comprising blue chips rose 12.85 points to settle at 2,778 and the DSE Shariah Index (DSES) saw a fractional gain of 0.68 point or to close at 1,594.
Turnover, another important indicator of the market, stood at Tk 23.52 billion on the prime bourse, which was 14.62 per cent lower than the previous day’s tally of Tk 27.55 billion.
Market insiders said the market index saw a zigzag movement and mixed performance although profit taking was still on the menu.
The optimistic investors showed buying appetite on selective large-cap stocks while cautious investors sold shares sector-wise issues, taking the market in the flat zone, they said.
Losers took a strong lead over the gainers, as out of 376 issues traded, 269 closed lower, 75 higher and 32 remained unchanged on the DSE trading floor.
LafargeHolcim Bangladesh topped the day’s turnover chart with shares of Tk 2.14 billion changing hands, closely followed by Orion Pharma, Beximco, GPH Ispat and LankaBangla Finance.
Orion Pharma was the day’s best performer, posting a gain of 9.90 per cent while ICB Islamic Bank was the day’s worst loser, plunging by 10 per cent.
However, the Chittagong Stock Exchange (CSE), ended marginally lower with the CSE All Share Price Index – CASPI –shedding 39 points to settle at 21,433 and the Selective Categories Index – CSCX -- losing 25 points to close at 12,872.
Of the issues traded, 218 declined, 70 advanced and 30 remained unchanged on the CSE trading floor.
The port city’s bourse traded 24.21 million shares and mutual fund units with turnover value of Tk 898 million.