Dhaka stocks ended flat on Tuesday with an increased turnover as investors went for profit-taking selling in late trading on the day after a six-day rise.
The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,082.67 points, shedding 0.03 per cent or 1.24 points. DS30, the blue-chip index of the bourse, declined by 0.23 per cent, or 3.64 points, to finish at 1,549.97 points on the day.
The DSEX and DS30 had gained 250.38 and 112.71 points respectively in the previous six trading sessions.
The turnover of the DSE increased to Tk 706.85 crore from previous trading session’s Tk 475.68 crore.
Tuesday’s turnover was the highest since July 18 when it was Tk 852.01 crore.
‘Despite the positive finish the market ended flat due to a profit-taking move by the investors following the recent increase in share prices,’ Union Capital managing director Akhter Hossain Sannamat told New Age.
‘Investors’ participation keeps rising as they remain positive following the opposition party’s announcement that it would not go for tough action against the government demanding a polls-time non-party neutral government at the moment,’ said Akhter Hossain.
‘Upbeat vibe at the very beginning could not sustain due to investors’ dive towards profit booking. Hence, the bourse ended flat, breaking its six sessions’ rally of 250.38 points. Selling spree in some of the heavy weighted large cap scrips derailed the market at the ending part of today’s [Tuesday] session,’ IDLC Investments said in its daily market commentary.
‘As the DSEX surpassed and persisted over 4,000 points in the last two sessions, an expectation-based improvement was observed among the investors. Alongside this, no major distortion in political frontier made investors’ confidence stronger,’ it also said.
Of the 281 issues and mutual funds traded on the day, 133 advanced, 132 declined, and 26 remained unchanged.
Bangladesh Submarine Cable Company led the turnover leaders with its shares worth Tk 53.32 crore changing hands.
Meghna Petroleum, Padma Oil, Olympic Industries, Grameenphone, Titas Gas, Square Pharmaceuticals, Jamuna Oil, Active Fine Chemicals and United Airways were also among the turnover leaders.
JMI Syringes and Medical Devices gained the most on the day as its share price increased by 9.61 per cent, while Navana GNG lost the most, shedding 13.77 per cent.
-With New Age input
