Stocks end flat

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

Stocks ended flat Thursday with slight improvement in turnover as the investors followed cautious stance on the budget announcement.
The market started with a positive note, but the morning hype evaporated gradually as session progressed. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) came down below 4,400 points mark after 7-session and ended at 4,396.54 points, shedding 4.45 points or 0.10 per cent.
The DS30, comprising blue chips lost 2.09 points or 0.12 per cent to close at 1,622.94 points. The DSE Shariah Index (DSES) also went down by 0.69 points or 0.06 per cent to close at 1,007.82 points.
The total turnover at DSE stood at Tk 4.19 billion, registering an increase of 2.69 per cent over the previous session's value of Tk 4.08 billion.
LankaBangla Securities, "The trading set the market for another day of correction in index with number of swings implying the indecisive market sentiment on the day of budget placement".
In the past few days, market was a bit upbeat in previous week, while this week benchmark index moved sideways with negative biases, said the stock broker.
"This suggests that the noise churned out in market over last two weeks by the possible changes in measures of budget made the market direction hazy and it would only show up as budget open up with triggers," said the stock broker.
"The market mimicked the previous session - started with positive vibe but gradually ended with losing tone. Such pattern indicating that sell pressure was not permitting the market to continue initial buying spree," said IDLC Investments.
"Much of market downbeat can be attributed to the day's budget as investors are waiting for the proposed plan from finance minister. Investors are hoping for a fair budget to occur, for the market to adapt firmly to a positive trend," observed Zenith Investments.
The losers took a modest lead over the gainers as out of 297 issues traded, 133 declined, 127 advanced and 37 closed unchanged on the DSE floor.
The 4-day rally in the telecommunication came to a halt as the sector saw a correction of 3.12 per cent followed by f and allied which lost 2.78 per cent.
The financial sectors including banks and NBFIs lost 0.05 per cent and 1.10 per cent respectively. Pharmaceuticals also edged down by 0.75 per cent.
Activities increased in the major bourse (DSE) where trade and volume were up by 9.39 per cent and 8.80 per cent respectively. A total of 0.089 million trades were executed in the day's trading session with 84.42 million securities of trading volume.
The total market capitalisation on DSE stood at Tk 2,895.08 billion against Tk 2,911.50 billion in the previous session.
Lafarge Surma Cement to top turnover leader with shares worth Tk 290.21 million changing hands followed by BSRM Steels, GP, MJL BD and Heidelberg Cement.
Generation Next Fashion was the day's highest gainer, posting a rise of 9.86 percent while Wata Chemicals was the day's worst loser for the second running session, slumping by 8.66 percent following the news that the securities regulator formed a probe body to investigate its 'unusual' share price rise on June 2.
The port city bourse, Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index - CSCX - lost 29.29 points to close at 8,334.07 points.
Losers beat gainers 103 to 84, with 26 issues remaining unchanged at the port city bourse that traded 8.77 million shares and mutual fund units, turnover value of BDT 301.20 billion.