Stocks end flat amid cautious trading

Dhaka stocks edged down on Thursday as investors continued trading cautiously amid rising political tensions ahead of national polls while some investors’ risk-taking appetite eased the downfall.

DSEX, the key index of Dhaka Stock Exchange, shed 0.01 per cent, or 0.95 points, to close at 5,244.62 points on Thursday after losing 13.00 points in the previous session.

The market went through a choppy trading session with a few ups and downs and finished the session flat as investors were active at both sides of the trading fence, market operators said.

Many investors remained concerned over rising political activities ahead of the 11th parliamentary elections, they said.
The Election Commission on Thursday rejected the demand made by opposition alliance Jatiya Oikya Front for deferring the elections again.

EC earlier on Monday rescheduled the 11th parliamentary elections for December 30 from December 23.
Stockbrokers said investors feared more political conflicts after a confrontation broke out between the police and the BNP leaders and activists in front of the party’s central office at Naya Paltan in Dhaka on Wednesday. Several people including policemen were injured in the incident.

The average share prices of miscellaneous, non-bank financial institutions, bank and telecommunication dropped by 0.29 per cent, 0.26 per cent, 0.17 per cent and 0.07 per cent respectively.
On the other hand, investors’ risk-taking appetite and active institutional movements helped the market remain stable and reduced the impact of political developments on the market in recent days, stockbrokers said.
The share price of energy and pharmaceuticals gained by 0.49 per cent and 0.04 per cent respectively.
The turnover on DSE dropped to Tk 555.75 crore on Thursday compared with that of Tk 631.61crore in the previous trading session.
Of the 336 companies and mutual funds traded on Thursday, 141 declined, 127 advanced and 43 remained unchanged.
DS30, the blue-chip index of DSE, also lost 0.22 per cent, or 4.16 points, to close at 1,856.11 points.
Shariah index DSES, however, added 0.10 per cent, or 1.31 points, to finish at 1,208.11 points.
Khulna Power Company led the turnover chart with its shares worth Tk 40.19 crore changing hands.
United Power Generation Company, SK Trims, Intech Limited, Saiham Cotton, IFAD Autos, Silva Pharmaceuticals, Wata Chemicals, Shepherd Industries and BBS Cables were the other turnover leaders.
Khulna Power Company gained the most on the day with a 10-per cent increase in its share prices, while Samata Leather was the worst loser, shedding 9.93 per cent.
Source: http://www.newagebd.net

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