Dhaka stocks ended flat on Thursday, the last trading session of the week, with a declining turnover as the state-owned entities kept the market afloat.
The benchmark general index of the Dhaka Stock Exchange, DSEX, finished flat at 4,013.37 points, adding 0.18 per cent, or 7.45 points on the day.DS30, the blue-chip index of the bourse, gained 0.12 per cent, or 1.76 points, to close at 1,464.31 points.
The DSEX slid below 4,000 points in the first 40 minutes of trading as investors’ confidence was shaky due to the recent unrest in the readymade garments sector, but the market started to gain afterwards as state-owned entities increased their participation on the floor to save the market from further fall, market operators said.
A section of the investors refrained from trading, adopting the ‘wait-and see’ strategy following the unrest in the RMG sector, which was another reason for the declining turnover, they said.
The turnover of the DSE declined to Tk 303.07 crore from the previous trading session’s Tk 324.32 crore.
‘After hitting one-and-half months’ lowest point in previous session, market rebounded today [Thursday] as opportunistic investors came forward to take advantage of the lucrative prices. Subsequently, natural buy pressure pushed DSEX up by 7.45 points, after 91.79 points shed-off in last four sessions,’ IDLC Investments said in its daily market commentary.
‘Investors’ buying spree in micro capitalize scrips against selling spree in large capitalize scrips made the bourse end flat during today’s [Thursday] session. Additionally, investors’ indecisiveness prevailed amid market volatility backed by frequent scrip wise movements,’ it also said.
-With New Age input
