Dhaka stocks flat ahead of Eid holidays

Image: Bizbangladesh.net
Dhaka stocks ended flat on Sunday as a section of investors sold off their holdings ahead of Eid-ul-Azha holidays while the others, encouraged by good financial disclosures by listed firms, continued buying shares.

Trading at the Dhaka Stock Exchange and the Chittagong Stock Exchange will remain closed in August 9-17 for weekly and Eid holidays.

DSEX, the key index of the DSE, gained 0.06 per cent, or 3.12 points, to close at 5,172.86 points on Sunday.

The index gained 47.82 points in last three sessions.

The market started the session on positive note and finished with slight gains amid volatile trading on the day ahead of a nine-day closure for Eid-ul-Azha, one of the biggest religious festivals of the Muslims, to be celebrated across the country on August 12.

Trading of the shares of Coppertech Industries will commence at the bourses today under the ‘N’ category.

Investors usually rush for the shares of a company on its debut on the bourses with an expectation of making substantial profits quickly, market operators said.

But investors often suffer due to such hype surrounding a newly listed company, they said.

They said a section of investors continued buying shares as many companies especially the banks declared hefty profits for the January-June period.

The investors’ concerns over the country’s financial sector waned amid the banks’ profit growth reports, they said.

Besides, the share prices of low-capitalised and non-performing companies continued rising abnormally.

Among the low-capitalised companies, the share prices of Al-Haj Textiles, Bangladesh 
Source: http://www.newagebd.net

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