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Stocks end flat on profit-booking

DSE turnover stays above Tk 11b mark


FE REPORT | September 15, 2020 00:00:00


Stocks finished nearly flat in a choppy session on Monday as investors were active on both sides of the trading fence throughout the session.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), inched down by 1.91 points or 0.03 per cent to settle at 5,092, after hitting more than one-year high in the previous session.

Market operators said the risk-averse investors preferred to book quick gain following the recent price upsurge while optimistic investors continued their buying binge riding on regulatory moves, taking the index almost flat territory.

The market passed a volatile session as investors oscillated between optimism and profit-booking stance throughout the session, said a merchant banker.

Two other indices also saw fractional losses. The DS30 index, comprising blue chips, shed 0.88 point to finish at 1,756 and the DSE Shariah Index lost 0.24 point to close at 1,170.

Turnover, a crucial indicator of the market, stood at Tk 11.48 billion on the country's prime bourse, which was 13.6 per cent lower than the previous day's four-week high turnover of Tk 13.29 billion.

Among the major sectors, banking witnessed the highest correction of 0.90 per cent after gaining 4.0 per cent the previous day, followed by telecoms with 0.80 per cent.

The pharmaceuticals sector continued to dominate the turnover chart. Beximco Pharma topped the chart with shares worth Tk 505 million changing hands, followed by Beximco, Brac Bank, Orion Infusion and Khulna Power.

Tosrifa Industries was the best performer, posting a gain of 9.91 per cent while Fareast Finance was the worst loser, shedding 9.61 per cent.

The Chittagong Stock Exchange also edged down with its All Shares Price Index (CASPI) losing 4.53 points to close at 14,523 and the Selective Categories Index (CSCX) shedding 4.83 points to close at 8,727.

Of the issues traded, 114 gained, 124 declined and 34 remained unchanged on the CSE.

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