Stocks ended flat into the red on Wednesday after three sessions' steep fall with turnover improved slightly as lucrative prices prompted some investors to come up-front with last hour buying spree.
The market started with a negative note and the downward trend continued almost throughout the session. But last hour buying spree helped the market to close flat. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,566.85 points, shedding only 0.18 points.
The other two indices, however, managed to close in positive. The DS30, comprising blue chips gained 3.01 points or 0.18 per cent to close at 1,671.92 points. The DSE Shariah Index (DSES) also gained 5.85 points or 0.57 per cent to close at 1,018.20 points.
The total turnover value on DSE improved to Tk 4.36 billion, registering an increase of 12.66 per cent over the previous session's value of Tk 3.87 billion.
"The market witnessed a volatile session. Sliding mood of the market in the early hours altered due to excellent price performance of some particular large caps like GP, Square Pharma and Renata," commented International Leasing Securities.
Particularly, good dividend declaration of ACI Limited and Bay Leasing created positive hype among the investors, it said.
Meanwhile, mixed quarterly earnings declaration of several companies motivated the investors to reshuffle their portfolio. As a result, investors participation surged to Tk 4.36 billion, said the International Leasing.
"After rising more than 103 points in last week, market wrapped the week eroding gains and closed flat over jerky participation of investors," said LankaBangla Securities.
Throughout the week market breadth was weak and index performed mixed. Ministry of Finance has aimed at stabilizing the market as it waived the condition of personal guarantee of Merchant Bank and broker house for availing the capital market re-financing scheme, said the stock broker.
"On the last day of this week some large cap stocks, specially bank and financial stocks took correction in large volume, while rally in other large and mid-cap stocks got a strong footing," said the stock broker.
"Despite a depressed start up, closing session of the week ended flat," commented IDLC Investments.
"Following tri-session's toll of 135 points, sale pressure started beating market sentiment at opening. But, lucrative prices prompted some witty investors to come up-front with some late hour buying spree," said the merchant bank.
The market was very much sensitive to corporate declarations. Seemingly, more than expected earnings of ACI Limited stimulated investors much, with 21.57 per cent gain, it said.
Meanwhile, no dividend disclosure of Shinepukur Ceramics and Beximco Synthetic, put them in 'Z' category which disappointed investors and helped the scrips emerge as top losers of the day, the merchant bank added.
The gainers and losers almost same as out of 291 issues traded, 131 gained, 133 declined and 27 issues closed unchanged on the DSE floor.
Among the major sectors, pharmaceuticals and telecommunications ended in green with gaining 1.71 per cent and 0.35 per cent respectively.
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