Dhaka bourse almost flat as trading was limited to small cos

The Dhaka bourse closed flat on Tuesday with a marginal loss observed in the broad index.

Investors' participation increased moderately in trading of small-cap stocks, which led to a marginal rise in turnover on the Dhaka Stock Exchange and small companies on the gainers' chart.

After the daylong volatility, the premier bourse posted a turnover of Tk 6.46 billion with a rise of 12 per cent compared to the previous session.

The DSE broad index DSEX declined 0.06 per cent or 3.76 points to close at Tk 62.09 points.

Shariah-based index DSES and DS30 comprising blue chip securities declined by 2.77 points and 4.67 points respectively.

"The equity indices of the Dhaka bourse extended their correction mode as cautious investors continued their profit booking selling frenzy amidst absence of major trigger in the market," reads a market review of EBL Securities.

It said the market witnessed a volatile session, with sellers dominating the trading floor as investors opted to secure their short-term gains.

Small-cap companies that dominated the gainers' chart advanced 5-10 per cent on the DSE.

Of the companies, Aziz Pipes topped the gainers chart after its share price rose 10 per cent to close at Tk 100.10 on Tuesday. Its share price climbed up 21 per cent in the last eight sessions.

Northern Jute Manufacturing was the second top gainer with 9.95 per cent price appreciation to Tk 215.10.

The stock moved up from the floor price on March 29 and increased 6.27 per cent until Tuesday.

Of other small-cap companies, Stylecraft advanced 9.80 per cent and closed at Tk 94.10 on the DSE.

"The risk-averse investors went for profit booking sell-offs on sector specific issues that observed recent rallies," said International Leasing Securities.

Of the sectors that saw price appreciation, the jute sector saw the highest appreciation of 4.6 per cent followed by the services & real estate sector 0.9 per cent, bank 0.2 per cent and cement 0.1 per cent.

Of the sectors which endured correction, IT declined 1.3 per cent, paper & printing 1 per cent, life insurance 0.8 per cent and travel & leisure 0.8 per cent.

Gemini Sea Foods topped the scrip-wise turnover chart with a transaction of Tk 511 million, followed by Aamra Networks Tk 374 million, Eastern Housing Tk 346 million and Al-Haj Textile 267 million.

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