Stocks slipped into the red for the third running session Monday amid volatile trading throughout the session due to the investors' indecisive behaviour.
Meanwhile, trading and official activities at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) will remain closed today (Tuesday) on the occasion of public holiday due to Buddha Purnima.
After previous session's sharp decline, the market see-sawed several times during the day's trading session. At one stage, index was creeping up towards day's high of 4,510 points; then again it has ended the day flat.
DSEX, the prime index of the DSE ended at 4,497.12 points, shedding 1.22 points or 0.02 per cent from previous session.
The DS30, comprising blue chips lost 7.15 points or 0.43 per cent to close at 1,637.88 points. However, the DSES managed to close positive with gaining 0.64 points or 0.06 per cent to close at 1,004.74 points.
Amid the shaky confidence, participation couldn't improve much either, keeping turnover below Tk 4.0 billion level for third consecutive session. The total turnover stood at Tk 3.94 billion, registering an increase of 4.73 per cent over the previous session's value of Tk 3.78 billion.
"The market witnessed a flat session due to the investors' indecisive behaviour. The investors' reacted accordingly on mixed earnings declaration of several banks and financial institutions," commented International Leasing Securities, in its regular market analysis.
Some multinational companies like GP, Marico, Heidelberg Cement and Berger Paints revived their positive momentum. Textile sector caught the investors' attention and generated 0.61 per cent gain and 13.57 per cent turnover, said the International Leasing.
"Stocks kept sliding for third consecutive session, wiping off the entirety of earlier tri-session's gain. Beside, volatility was prominent with stock-specific movements," said IDLC Investments.
Earning declarations played major role in the day's market, driving national housing finance & investments 10 per cent gain to spectacular, while punishing LankaBangla Finance with 4.7 per cent loss, said the merchant bank.
"The market has formed a seesaw pattern after continuously drifting between gains and losses, but there was a pickup in buying during the final hour,' observed Zenith Investments.
"A firm conviction from the traders is missing, as mixed performance of the earnings seems to have stayed the market from its particular direction," said the Zenith analysis.
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