Dhaka bourse closes flat as general insurers drive recovery

The broad index of the Dhaka Stock Exchange (DSE), DSEX, managed to close flat on Wednesday, breaking a streak of marginal losses experienced in the previous four consecutive sessions.
The index saw a rise of 1.49 points to close at 6332 points, recovering from a loss of 35 points in the previous four sessions.
The day's market movement was mainly influenced by general insurers, which experienced the highest appreciation and helped the index avoid further losses.
However, investors adopted a cautious stance, leading to the turnover volume hitting a three-week low.
The turnover volume at the premier bourse DSE reached Tk 5.39 billion, marking an 18 per cent decrease from the previous session.
Wednesday's turnover volume was the lowest since July 4, when the DSE recorded a turnover of Tk 6 billion.
Market operators said investors are currently seeking short-term gain opportunities, as their willingness to take long-term positions in equities has weakened due to the uncertainty surrounding market momentum.
The premier bourse DSE opened the day's session on a positive note, with the DSEX exhibiting ups and downs until mid-session.
After the mid-session, the DSEX experienced a sharp correction but was able to close flat, riding on last hour's bounce.
According to a market review by EBL Securities, opportunist investors were in bargain hunting mood while cautious investors from fresh taking fresh positions amid the prevailing market volatility.
General insurers, which helped the DSEX close green, experienced the highest appreciation of 0.7 per cent.
The Shariah-based index also closed flat, while the blue-chip index DS30 declined marginally lower, following price corrections experienced by Heidelberg Cement, AND Telecom, Delta Life Insurance and Sea Pearl Beach Resort & Spa.
Out of 347 issues traded, 87 advanced, 72 declined and 188 remained unchanged on the DSE.
Investors' participation was concentrated mostly on the insurance sector, which accounted for 18.2 per cent of the market turnover volume, followed by food and allied, miscellaneous and engineering sectors.
Sea Pearl Beach Resort & Spa was the most traded stock with a value of Tk 287 million, followed by Fu Wang Food, Bangladesh Shipping Corporation and Khan Brothers PP Woven Bag Industries.
Western Marine Shipyard saw the highest appreciation of 9.67 per cent, closing at Tk 13.60.
On the other hand, Al-Haj Textile Mills was the day's worst loser after declining 5 per cent, closing at Tk 157.7.

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