Market remains steady

FE Report | Published: June 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks ended in flat with marginal loss Monday after previous session's sharp decline as investors went for late hours selling spree amid apparent lack of clear indications and gloomy market sentiment.
Though the market witnessed positive movement in the early hours, the gains faded out as the session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,358.75 points, shedding 2.83 points or 0.06 per cent.
The DS30, comprising blue chips lost 0.34 points or 0.02 per cent to close at 1,617.85 points. However, the DSE Shariah Index (DSES) gained 2.07 points or 0.20 per cent to close at 1,009.79 points.
The investors' participation stayed flat, keeping the turnover level inert at Tk 3.19 billion at DSE, registering an increase of 1.59 per cent over the previous session's Tk 3.14 billion.
"Amid apparent lack of clear indications and gloomy market sentiment, the investors extended their soggy sentiment," commented International Leasing Securities, in its daily market analysis.
"Morning hype couldn't step up further, ahead of intense selling from diverse investment clienteles. And the bourse ended flat with marginal loss," said IDLC Investments.
A number of news related to infrastructural development activities, like Dhaka-Chittagong 4-lane highway, Padma Bridge and 67 per cent ADP utilization in 11 months of FY 2013-2014, influenced investors much, said the merchant bank.
Some specific scrips moved up the related sectors. Cement sector gained by 4.74 per cent while engineering led in sectoral turnover ladder, capturing 16.31 per cent of the day's total turnover.
LankaBangla Securities, a stock broker, said, "With weak market breadth of 63 advancing stocks against 203 declining stocks, market observed a correctional trading session which was not visible in the index".
However, financial stocks held strong with banking sector gaining 0.7 per cent in market capitalization with some specific banks moved upward with four banks emerged at top ten gainers list.
"Investors might have reiterated their preference for domestic cyclical stocks including banks, infrastructure materials and cement stocks," said the stock broker.
"Stocks rolled on to further losses, recouping with previous session's momentum of flat performance," observed Zenith Investments.
"Investor's sentiment is a major factor for the market to overcome the ongoing selling pressure, and wound up for some modest gains," the Zenith analysis added.