Investors remain inactive

FE Report | Published: March 12, 2014 00:00:00 | Updated: November 30, 2025 06:01:00

Dhaka stocks closed positive Tuesday with turnover hitting two-month low as investors apparently restrained themselves from active participation amid volatile market outlook.
The market saw choppy trading in first part of the session, but rest of the session it went to green. At the end of the session, the prime index of the Dhaka Stock Exchange (DSEX) ended at 4,672.63 points, gaining 7.07 points or 0.15 per cent after seeing red in the last two sessions.
However, the other two indices ended into the red. The DS30, comprising blue chips lost 0.01 points to close at 1,681.23 points. The DSE Shariah Index (DSES) went down by 1.04 points or 0.10 per cent to close at 1,011.70 points.
Turnover value on DSE came down to Tk 3.36 billion, registering 16.34 per cent decline over the previous session's value. It was also two months low level since Tk 3.15 billion on January 6 last.
"The country's prime bourse - DSE ended the day's session with marginally positive stance while turnover dropped its two months' low level," commented International Leasing Securities, in its daily market analysis.
"The investors apparently restrained themselves from active participation as the market lacked any clear indication," said the International Leasing Securities.
"Market remained range-bound hitting the day's close just above the support level as investors may be looking for corporate declarations as a trigger," commented LankaBangla Securities.
The rally was largely supported by bank, textile and engineering sector. Banking sector rallied 0.6 per cent as Mutual Trust Bank, AB Bank and First Security Islami Bank gained 4.12 per cent, 6.12 per cent and 4.38 per cent respectively.
However, market ended positive on flat note as cautious participation of investors confined market turnover close to 2-month low, said the stock broker.
"Offbeat market sentiment and cyclicality prolonged further, yielding another flat session," said IDLC Investments.
Since market shed-off 91 points in last nine sessions, a mild level of natural buy pressure in some Micro Cap scrips assisted DSEX closing at 4,672 points Tuesday.
In the meantime, some heavy-weight scrips faced marginal correction during the day's session, too, the merchant bank said.
"Investors' indecisiveness prevailed amid the extended level of market volatility. Consequently, turnover declined by 16.34 per cent from prior session and hit at last two months' low level," the merchant bank added.
"It seems that the market is hostage to tremendous volatility and sector wise rotation, leaving investors perplexed about making any rational decisions," observed Zenith Investments.
However, the port city bourse --- the Chittagong Stock Exchange (CSE) closed into the red with its Selective Categories Index - CSCX lost 2.30 points to close at 9,136.77 points.
Gainers and losers were same as out of 213 issues traded, 91 advanced, 91 declined and 31 remained unchanged at the port city bourse that traded 6.39 million shares and mutual fund units with turnover value of Tk 314.99 million.