Dhaka stocks end flat in choppy trading

Dhaka stocks ended flat on Monday amid a fall in share prices of most the scrips as many investors remained cautious due to political developments ahead of the 11th parliamentary elections, while a section of them went for bargain hunting.
DSEX, the key index of Dhaka Stock Exchange, added 0.05 per cent, or 3.01 points, to close at 5,279.25 points on Monday after losing 29.70 points in the previous session.
The core index went through a choppy trading session with few ups and downs and finished the session with a brief gain as many investors remained cautious on the trading floor, but some others went for buying shares in the cheap from the bearish market, market operators said.
They said some investors anticipated that the market could get momentum after the national polls scheduled to be held on December 30.
The investors’ appetite for taking risk helped the market to remain afloat on the day, market operators said.
The textile sector led the turnover chart on the day by holding 28 per cent of the day’s turnover.
Average share prices of pharmaceuticals, textile and energy sectors advanced by 0.79 per cent, 0.59 per cent and 0.52 per cent respectively.
The financial sectors ended the session flat as bank and non-bank financial institution gained 0.05 per cent and 0.04 per cent respectively.
Market operators said a section of investors were struggling to cope with political and economic uncertainties ahead of the national elections.
People from all walks of life have been watching the political developments before the polls, they said.
Ruling Awami League on Sunday issued nomination letters to the party candidates for the elections while opposition Bangladesh Nationalist Party on Monday started issuing nomination letters to its candidates.
Average share prices of cement and food declined by 0.46 per cent and 0.41 per cent respectively on Monday.
‘The capital bourse of the country edged slightly higher with volatility followed by investors’ cautious stance. The market stayed positive throughout the session as most of the investors were busy with rebalancing their portfolios,’ said EBL Securities in its daily market commentary.
The turnover on DSE increased to Tk 615.74 crore on Monday compared with that of Tk 569.45 crore in the previous trading session.
Of the 336 companies and mutual funds traded on Monday, 140 declined, 128 advanced and 64 remained unchanged.
DSE blue-chip index DS30 also gained 0.12 per cent, or 2.27 points, to close at 1,857.72 points.
Shariah index DSES added 0.25 per cent, or 3.16 points, to finish at 1,224.22 points.
Saiham Textile led the turnover chart with its shares worth Tk 42.86 crore changing hands.
Shepherd Industries, United Power Generation Company, BRAC Bank, Intech Limited, Khulna Power Company, Square Pharmaceuticals, Pharma Aid, Western Marine Shipyard and Berger Paints Bangladesh were the other turnover leaders.
Desh Garments gained the most on the day with a 10-per cent increase in its share prices, while Aman Feed was the worst loser, shedding 12.68 per cent.
Source: http://www.newagebd.net

Tags :

Share this news on:

Previous Story

Archive