Stocks end flat amid profit booking

FE Online Report | Published: August 29, 2017 16:35:59 | Updated: October 24, 2017 23:49:11


Stocks finished almost flat note on Tuesday as late hours sale pressure wiped out all the early gains.

Brokers said the market closed almost flat as optimistic investors showed their buying appetite on sector-wise stocks in the early trading while some investors opted for booking profit in the late hours, taking the market in the flat territory.

The market stayed positive prior to the Eid-ul-Azha vacation. There are only two trading sessions left before the Eid-ul-Azha vacation.

After hitting record high of the prime index of the major bourse in the previous day, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher.

Within the first hour of trading, DSEX, the prime index of the DSE, gained nearly 34 points, but rest of the session fell steadily, finally ended only 1.25 points up.

DSEX, the core index of the DDSE, settled at 5,949 points, after advancing 1.25 points or 0.02 per cent over the previous day.

The two other indices also stayed on positive zone. The DS30 index, comprising blue chips advanced 3.53 points or 0.16 per cent to finish at 2,125. The DSE Shariah Index (DSES) rose 3.57 points or 0.27 per cent to close at 1,316.

Turnover, the important indicator of the market, stood at Tk 9.25 billion on the DSE, which was more than 10 per cent lower than the previous day’s turnover of Tk 10.33 billion.

A total number of 0.145 million trades were executed in the day’s trading session with a trading volume of 286.18 million securities.

The total market capitalisation of the DSE also rose to all-time high at Tk 3,999 billion which was Tk 3,998 billion in the previous day.

Of the 330 issues traded, 142 closed higher, 146 closed lower and 42 remained unchanged on the DSE trading floor.

IFIC Bank topped the turnover chart with around 20.34 million shares of Tk 412 million changing hands, closely followed by BBS Cables, RAK Ceramics, Bangladesh Building Systems and Al-Arafa Islami Bank.

Textile companies dominated the gainers’ chart with Hwa Well Textile was the day’s highest gainer, posting a 10 per cent rise, while BBS Cables was the worst loser, losing by 7.47 per cent after gaining ‘abnormally’ in the recent sessions.

The port city bourse, Chittagong Stock Exchange (CSE), also closed slightly higher, with its Selective Categories Index - CSCX – advancing 13 points to settle at 11,157 points.

Gainers beat losers as 117 issues closed higher, 103 closed lower and 31 remained unchanged on the CSE.

The port city bourse traded 18.35 million shares and mutual fund units worth Tk 499 million.

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