Dhaka stocks end flat in volatile trading

Dhaka stocks ended flat on Monday as a section of investors went on with bargain hunting while many others remained cautious ahead of the general election.
DSEX, the key index of Dhaka Stock Exchange, added 0.01 per cent, or 0.95 points, to close at 5,369.91 points on Monday after gaining 26.06 points in the previous session.
The market began bullish but witnessed a sharp fall later and ended flat as a section of investors went for investing in undervalued stocks while another section went for profit-taking share sales, market operators said.
They said that the share prices of many scrips came down to more than a year low that prompted investors to buy those shares with an expectation of better gains.
Besides, the Bangladesh Securities and Exchange Commission on Thursday assured capital market intermediaries that it would take necessary measures to regain the confidence of investors on the market that pulled some investors to the market, market operators said.
The DSEX shed more than 4 per cent or 231 points in the month of September amid the rising political tensions surrounding the political activities ahead of the national election due by January next year, they said.
They said the current political fracas between the ruling party and the main opposition party made investors nervous on the trading floor.
The average share prices of non-bank financial institution, textile and telecommunication advanced by 1.70 per cent, 1.10 per cent and 0.34 respectively.
Among the large capitalised scrips, the share prices of Investment Corporation of Bangladesh and IFAD Autos advanced most while British American Tobacco, United Power Generation Company, Khulna Power Company and Titas Gas declined most on the day.
Investors went on heavy share sales from the energy sector and the sector lost 1.27 per cent after 2.11 per cent gain in the previous day.
The average share prices of food, cement and bank declined by 1.42 per cent, 0.56 per cent and 0.02 per cent respectively.
The share price of Stylecraft Limited continued surging as it gained 61.80 per cent or Tk 1,647 in the last 17 trading sessions to settle at Tk 4,312.1 on Monday as there was a rumour at the market that the share prices of the company would cross Tk 5,000 mark within few days.
The turnover on DSE increased to Tk 550.52 crore on Monday compared with that of Tk 516.42 crore in the previous trading session.
Of the 335 companies and mutual funds traded on Monday, 183 advanced, 117 declined, and 37 remained unchanged.
DS30, the blue-chip index of DSE, however, lost 0.07 per cent, or 1.37 points, to close at 1,888.33 points.
Shariah index DSES gained 0.09 per cent, or 1.11 points, to finish at 1,240.18 points.
IFAD Autos led the turnover chart with its shares worth Tk 53.69 crore changing hands.
United Power Generation Company, Khulna Power Company, SK Trims Industries, BBS Cables, Intech Limited, Monno Ceramics, Active Fine Chemicals, Bashundhara Paper Mills and Olympic Industries were the other turnover leaders.
CVO Petrochemical Refinery gained the most on the day with a 9.94-per cent increase in its share prices, while Republic Insurance Company was the worst loser, shedding 8.13 per cent.
Source: http://www.newagebd.net

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