Stocks close flat amid cautious trading

Stocks closed flat on Monday after previous session’s sharp decline as investors went for late hours selling spree amid cautious stance. The market opened with a positive note, but could not sustain as session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,358.75 points, shedding 2.83 points or 0.06 per cent. The DS30, comprising blue chips lost 0.34 points or 0.02 per cent to close at 1,617.85 points. However, the DSE Shariah Index (DSES) gained 2.07 points or 0.20 per cent to close at 1,009.79 points. The total turnover on DSE stood at Tk 3.19 billion, registering an increase of 1.59 per cent over the previous session’s Tk 3.14 billion. The losers took a strong lead over the gainers as out of 291 issues traded, 203 declined, 63 advanced and 25 closed unchanged on the DSE floor. BSRM Steels Ltd dominated the day’s top turnover chart with shares worth Tk 267.23 million changing hands followed by GP, Lafarge Surma Cement, Square Pharma and Heidelberg Cement. AB Bank was the day’s highest gainer, posting a rise of 6.58 per cent while Sandhani Insurance was the day’s worst loser, slumping by 8.41 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – lost 19.05 points to close at 8,290.69 points. Losers beat gainers 143 to 38, with 22 issues remaining unchanged at the port city bourse that traded 6.06 million shares and mutual fund units, turnover value of Tk 228.75 million.