Stocks end flat amid bumpy ride

Stocks finished flat amid heavy volatility on Thursday as investors were cautious ahead of budget announcement. Finance Minister AMA Muhith is unveiling the national budget for the fiscal year 2015-16 at the parliament at 3:30pm today (Thursday). The market moved heavily between red zone and green zone throughout the session as intra-day volatility was around 40 points. DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged 4.58 points or 0.09 per cent higher to settle at 4,591.42 points. DSE30 index, comprising blue chips, gained 7.29 points or 0.41 per cent to end at 1,765.18 points. The Shariah Index DSES also slightly up by 4.23 points or 0.37 per cent to close at 1,117.59 points. Turnover, the crucial indicator of the market, fell drastically to Tk 4.99 billion, which was 31.17 per cent lower than the previous session’s Tk 7.25 billion. A total of 310 issues were traded on the day. Of which, 141 closed in green, 135 in red and 34 remained unchanged. Summit Power was the day’s most traded stocks with shares of Tk 429 million changing hands followed by KPCL, Beximco, AFC Agro and FAR Chemicals. FAR Chemicals was the day’s top gainer, posting a rise of 9.86 per cent while Savar Refractories was the worst loser, plunging by 10 per cent. The port city bourse – Chittagong Stock Exchange (CSE) – also ended flat with its Selective Categories Index – CSCX – gaining 17.89 points to close at 8,620.86 points. Losers beat gainers 116 to 81, with 30 issues remaining unchanged at the port city bourse that traded 16 million shares and mutual fund units, with a Tk 1.00 billion turnover value.