Stocks end flat as key index remains unchanged

Stocks ended flat Wednesday with key index of major bourse remaining almost unchanged as investors adopted 'wait-and-see' approach ahead of introduction of new trading system.
The Dhaka Stock Exchange (DSE) will launch new trading platform today (Thursday). Existing trading engine TESA and trading terminal MSA Plus will be replaced by FlexTrade Systems developed by the US-based world's largest exchange company NASDAQ OMX.
Though morning trading started with buying interest on large-cap stocks and some value stocks, late sale pressure could not sustain the momentum. DSEX, the prime index of the DSE ended at 4,943.72 points, shedding slightly by 0.30 points.
However, two others indices closed in green zone. The DS30, comprising blue chips gained 4.27 points or 0.23 per cent to close at 1,827.06 points. The DSE Shariah Index rose 3.59 points or 0.31 per cent to close at 1,156.15 points.
The total turnover on DSE stood at Tk 4.21 billion, registering a decline of 2.77 per cent over the previous day's value of Tk 4.33 billion.
The investors' attention was mostly focused on pharma, power and textiles - the sectors that accounted for 16 per cent, 13.3 per cent and 11.5 per cent of the day's total turnover respectively.
"Mixed trading pattern with increased level of volatility put the bourse into a three session-long flat end," said IDLC Investments in an analysis.
"The investors were eagerly waiting for new trading system, particularly for its some added benefits like single share lot, due today (Thursday)," said the merchant bank.
Amid the cyclical trading pattern, participation declined marginally as investors were waiting for certain direction of market, the merchant bank said
On macroeconomic front, declined inflation and some positive news related to textile sector were noteworthy, it added.
LankaBangla Securities said the market ended in flat red zone of face profit booking. "Market continued to show choppy trading behaviour as investors are remaining cautious and observing market movement from the sideline," said the stock broker.
Among the large cap sectors, telecommunication posted the highest gain of 2.62 per cent. Food and allied appreciated by 1.16 per cent as one of its issue Olympic Industries saw 4.1 per cent gain alone.
Pharmaceuticals went up marginally by 0.15 per cent. The other major sectors retraced. Power lost a hefty 2.08 per cent. NBFIs and cement edged down by 0.43 per cent and 0.38 per cent respectively. Banks closed almost flat in red with 0.07 per cent loss.
The losers took a lead over the gainers as out of 303 issues traded, 145 declined, 110 advanced and 48 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 2.49 per cent and 2.58 per cent respectively. A total of 0.094 million trades were executed with trading volume of 113.76 million securities.
The total market capitalization of DSE stood at Tk 3,287.73 billion against Tk 3,281.17 billion in the previous session.
GP was the most traded stock back-to-back sessions with shares worth Tk 161.81 million changing hands followed by Hamid Fabrics, Square Pharma, Beximco Pharma and Jamuna Oil.
The port city bourse, Chittagong Stock Exchange (CSE) also closed flat in the red with its Selective Categories Index - CSCX - lost 2.46 points to close at 9,289.58 points.
Losers beat gainers 130 to 75, with 22 issues remaining unchanged at the port city bourse that traded 10.66 million shares and mutual fund units, turnover value of Tk 451.70 million.
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