Stocks end flat for third session

Stocks witnessed another flat session Wednesday as investors followed a 'go-slow' approach amid ongoing year-end dividend declarations and possible adverse impact of the Russia-Ukraine war on the country's economy.
DSEX, the key index of the Dhaka Stock Exchange (DSE), saw a fractional gain of 0.11 point to settle at 6,765, after gaining 1.54 points in the previous day.
Market insiders said many investors remained worried about the possible adverse impact of the Russia-Ukraine war on the country's economy while some were reluctant to make fresh investment in stocks ahead of the holy Ramadan.
The market witnessed another see-saw trading session and the benchmark index of the prime bourse settled flat as sellers' outnumbered buyers due to investors' profit-taking tendency, said EBL Securities.
"Most investors remained on the sidelines owing to the temporary circuit breaker, which caused many stocks to remain dearer at the current price level for the investors," said the stockbroker.
Two other indices, however, edged lower with the DSE 30 Index, comprising blue chips, shed 0.48 point to finish at 2,458 and the DSE Shariah Index (DSES) fell 2.34 points to close at 1,454.
Turnover, a crucial indicator of the market, also dropped below Tk 10 billion-mark again and total turnover amounted to Tk 8.35 billion, which was 21 per cent lower than the previous day's tally of Tk 10.65 billion.
Four listed companies, including three banks -- Mercantile Bank, BRAC Bank, Uttara Bank and Robi Axiata-- declared dividends for the year ended on December 31, 2021 on Wednesday.
Robi Axiata was the worst loser, losing 3.59 per cent following its 'poor' dividend and earnings declarations.
The second largest mobile phone operator has recommended a 2.0 per cent final cash dividend (total 5.0 per cent cash dividend, including 3.0 per cent interim cash dividend, for the year ended December 31, 2021.
However, share prices of Uttara Bank, BRAC Bank and Mercantile Bank rose 3.60 per cent, 2.69 per cent and 1.14 per cent respectively following the news of higher than expected corporate disclosures.
Among the sectors, banking, pharmaceuticals and food sectors posted the highest gain of 0.80 per cent, 0.40 per cent and 0.30 per cent respectively whereas telecom and financial institutions witnessed the highest correction, losing 2.20 per cent and 1.30 per cent respectively.
Losers took a strong lead over the gainers, as out of 380 issues traded, 228 declined, 119 advanced and 33 issues remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) edged lower with the CSE All Share Price Index - CASPI -losing 3.98 points to settle at 19,821 and the Selective Categories Index - CSCX - shedding 3.05 points to close at 11,890.
Of the issues traded, 192 declined, 82 advanced and 27 issues remained unchanged on the CSE.
The port city's bourse traded 10.43 million shares and mutual fund units with turnover value worth Tk 232 million.

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