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Stocks end nearly flat after bumpy ride

DSE market-cap hits a fresh all-time high


FE REPORT | June 02, 2021 00:00:00


Stocks finished almost flat on Tuesday after volatile trading as late hours selling pressure wiped out most of the early gains.

The market opened sharply higher and the prime index of the major bourse gained 50 points, crossing the 6000-mark within 10 minutes of trading, but failed to sustain that level amid profit booking on major sector stocks.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 2.34 points or 0.03 per cent to settle at 5,993, after losing about 18 points in the previous day.

The market capitalisation of the DSE, however, continued to rise, hitting a fresh all-time high at Tk 5,041 billion on Tuesday, surpassing the previous day's record high of Tk 5,038 billion.

Turnover, a crucial indicator of the market, stood at Tk 19.03 billion, which was 9.62 per cent higher than the previous day's tally of Tk 17.36 billion.

Two other indices, however, ended in the red with the DSE 30 Index, comprising blue chips, fell 12.18 points to finish at 2,193 and the DSE Shariah Index (DSES) dropped 2.12 points to close at 1,284.

Market analysts said investors are cautiously monitoring and waiting for the upcoming budget announcements before making any further investment decisions.

The Chittagong Stock Exchange also ended marginally higher with the CSE All Share Price Index - CASPI -gaining 16 points to settle at 17,375 and the Selective Categories Index - CSCX advancing 10 points to close at 10,472.

Of the issues traded, 130 advanced, 129 declined and 39 issues remained unchanged on the CSE.

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