Stocks ended nearly flat on Tuesday as cautious investors opted for booking profit on quick-gaining blue chip issues in later part of the session amid fear of deterioration of the Covid-19 situation.
The market opened on a positive note and the key index rose about 50 points within the first hour of trading. But all the early gains eroded gradually amid profit taking.
DSEX, the prime index of Dhaka Stock Exchange (DSE), saw a fractional rise of 0.43 point to settle at 7,055, following 59 points gain in the past two trading days.
The DSE Shariah Index (DSES) also inched up by 1.55 points to close at 1,506. However, the DSE 30 Index, comprising blue chips, dropped 8.87 points to finish at 2,598.
Turnover, a crucial indicator of the market, crossed Tk 17 billion-mark after five days and amounted to Tk 17.12 billion, which was 1.54 per cent higher than the previous day's tally of Tk 16.86 billion.
Market analysts said stocks closed flat as the cautious investors opted for booking on quick-gaining blue chip issues in the later part of the session amid rising trend of virus spectre in the country.
The investors mostly observed the market movement amid lack of clear market direction while institutional investors kept their focus on strategies, trying to locate undervalued investment opportunities, said a merchant banker.
The rising Covid-19 cases prompted general investors to sell-off large-cap stocks to realise capital gain, taking the market in the flat territory, he said.
The investors' perception was bullish almost throughout the trading hours, however, excessive sell pressures in the later part of the session sent the market near to flat, said International Leasing Securities.
Major sectors witnessed mixed performances. Banking, food, engineering and pharma gained marginally while telecom, power, cement and financial institutions saw modest corrections.
Gainers took a modest lead over the losers, as out of 378 issues traded, 184 advanced, 146 declined and 48 issues remained unchanged on the DSE floor.
The state-run Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 988 million changing hands, closely followed by Beximco (Tk 950 million), Saif Powertec (Tk 836 million), GPH Ispat (Tk 737 million) and Fareast Islami Life Insurance (Tk 492 million).
Desh Garment was the day's top gainer, posting a 10 per cent rise while Anlima Yarn Dyeing was the day's worst loser, losing 6.09 per cent.
The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index - CASPI -gaining 8.0 points to settle at 20,658 and the Selective Categories Index - CSCX-advancing 5.36 points to close at 12,409.
Of the issues traded, 158 advanced, 110 declined and 39 remained unchanged on the CSE.
The port-city bourse traded 14.50 million shares and mutual fund units with a turnover value of Tk 595 million.
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