Stocks end another flat session

FE Report | Published: June 13, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks ended another flat session Thursday amid choppy trading as shaky market momentum influenced investors to turn more cautious.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) managed to stay afloat above the 'psychological' benchmark, ending at 4,408.80 points, shedding 2.36 points or 0.05 per cent.
The DS30, comprising blue chips lost 1.33 points or 0.08 per cent to close at 1,638.08 points. However, the DSE Shariah Index (DSES) managed to close positive with gaining 1.56 points or 0.15 per cent to close at 1,018.23 points.
Lack of fresh funds injection broke six sessions' track line in turnover of Tk 4.0 billion. The total turnover at DSE came down to Tk 3.68 billion, registering a decline of 15.78 per cent from the previous session's Tk 4.37 billion.
"Changing preferences forced market dynamics to remain volatile. Simultaneously, shaky market momentum influenced investors' yield hunting in frequent intervals," IDLC Investments, said in its regular market analysis.
However, expectation of upcoming corporate declaration and lower P/NAV ratio concentrated investors to Mutual Funds. Almost all the Mutual Funds gained Thursday, while eight MFs emerged at top ten gainers chart and MFs sector gained 3.02 per cent.
"Neither buying pressure nor the selling pressure dominated the market as the investors prolonged their cautious sentiment further in the market," said International Leasing Securities.
LankaBangla Securities said that the market remained choppy on the closing day of the week with benchmark index closing on flat red zone and turnover value down six sessions low.
A lower global growth forecast from the World Bank of 5.9 per cent than the Budget target of 7.3 per cent and a 3.4 per cent fall in remittance flow in first 11 months of FY 2013-14 compared to the same period of last fiscal year might have sapped investors' appetite, said the stock broker.
The number of gainers and losers almost same on the DSE as out of 296 issues traded, 133 advanced, 132 declined and 31 closed unchanged on the DSE floor.
All the major sectors ended in red except telecommunications and pharmaceuticals which advanced 1.43 per cent and 0.07 per cent respectively.
Food and allied sector was the biggest loser with 1.94 per cent loss followed by fuel and power 1.06 per cent and NBFIs lost 0.61 per cent. Banks lost the least going down by 0.28 per cent.
Activities decreased in the major bourse (DSE) where trade and volume were down by 4.55 per cent and 9.0 per cent respectively. A total of 0.085 million trades were executed in day's trading session with 76.94 million securities of trading volume.
The total market capitalisation on DSE stood at Tk 2,909.23 billion against Tk 2,907.40 billion in the previous session.
GP dominated the day's topped turnover chart with shares worth Tk 338.50 million changing hands followed by Lafarge Surma Cement, BSRM Steels, Apollo Ispat and Square Pharma.
Grameen Mutual Fund One was the day's highest gainer, posting a rise of 9.76 per cent while Wata Chemicals was the day's worst loser, slumping by 16.37 per cent following its price adjustment after record date.
The port city bourse, Chittagong Stock Exchange (CSE) also closed flat with its Selective Categories Index - CSCX - lost 0.90 points to close at 8,410.43 points.
Losers beat gainers 108 to 83, with 28 issues remaining unchanged at the port city bourse that traded 7.73 million shares and mutual fund units, turnover value of Tk 293.15 million.