Stocks near flatline on MPS, mixed earnings news

Stocks posted marginal gain Thursday as investors were cautious over monetary policy statement and mixed earnings news.
The central bank Thursday announced an accommodative monetary policy for the first half of the current fiscal aimed at achieving higher economic growth.
Having volatile movements almost throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 14.40 points or 0.30 per cent to settle at 8,792.30.
The two other indices also closed in the green zone. The DS30 index, comprising blue chips, rose 14.35 points or 0.76 per cent to finish at 1,883.91. The DSE Shariah Index (DSES) advanced 5.77 points or 0.48 per cent to end at 1,189.86.
Turnover, the crucial indicator of the market, amounted to Tk 6.29 billion against previous day's Tk 6.30 billion.
The participants kept their focus fixed on engineering, pharma and power-the sectors that accounted for 16.84 per cent, 16.62 per cent and 14.59 per cent of the day's total turnover.
IDLC Investments, a merchant bank, said, "Half-yearly earning declarations were mixed and investors were seemed demonstrating minimal reaction to favorable earnings as they were waiting for a confirmation of upbeat reversal".
The search for lucrative and short-term spread put investors in a cautious trading, keeping market turnover almost flat, said the merchant bank.
Lankabangla Securities, a stockbroker, said that stock saw lacklustre trade in the first hour as investors were vigilant of the monetary policy statement.
The market continued to move sideways amid no direct implication of monetary policy statement to the stock market. The statement included some subtle changes with no cut on repo rate directing towards no change in near-term interest rate, said the stockbroker.
"After seeing a subdued trade in morning session and mixed performance in earnings news, stocks continued to perform well following the announced of accommodative stance from the Bangladesh Bank," said the stockbroker.
International Leasing Securities, a stockbroker, said, "Jittery trading was exhibited amid indecisiveness from the beginning of the session; however, ending hour witnessed buy pressure on mostly manufacturing stocks from cement, fuel power and pharm sectors, helping the market edged up".
The large-cap sectors showed mixed performance. Cement registered 2.82 per cent the highest gain, followed by power 0.95 per cent. Pharmaceuticals moved 0.87 per cent up.
In the financial sector, NBFIs advanced 0.22 per cent and banks went down by 0.51 per cent. Telecommunication witnessed a 2.45 per cent loss. Food and allied experienced a thin correction of 0.14 per cent.
The gainers took a modest lead over the losers as out of 314 issues traded, 156 closed higher, 117 lower and 41 remained unchanged on the DSE trading floor.
Activities decreased on the major bourse where trade and volume were down by 2.37 per cent and 10.75 per cent respectively. A total number of 0.137 million trades were executed with volume of 162.53 million securities trading.
The market capitalisation on the DSE stood at Tk 3,370.05 billion against Tk 3,366.92 billion in the previous trading session.
Lafarge Surma Cement was the day's top turnover leader with shares of Tk 417 million changing hands followed by Square Pharma, Shasha Denim, Beximco Pharma and IDLC Finance.
Bangladesh Finance and Investments Company was the day's best performer, posting a rise of 9.70 per cent while Bangladesh Welding was the day's worst loser, plunging by 6.43 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also edged up with its Selective Categories Index - CSCX - gained 38.40 points to close at 8,960.
Gainers took a lead over the losers as out of 248 issues traded, 114 advanced, 99 declined and 35 remained unchanged on the port city bourse.
A total of 14.25 million shares and mutual fund units were traded, which were valued at Tk 616 million.
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