Dhaka stocks finished flat in volatile trading on Monday as bargain hunting in late trading hours after a two-day sharp fall saved the market from another day of heavy fall.
The market remained downbeat in the last three trading sessions following the finance minister’s announcement that the government ‘would not allow’ legalisation of undisclosed money in the upcoming budget, market operators said.
The key index of Dhaka Stock Exchange, DSEX, finished at 4,497.12 points, shedding 0.02 per cent or 1.22 points on Monday.
The DSEX lost 78 points in the last three trading sessions.
Market operators said like the previous two trading sessions the market on Monday also witnessed selling spree.
But, some natural buy-side support following fall in share prices in the last two trading sessions prompted some investors to buy shares at cheap in late trading hours, they said.
DS30, the blue-chip index of the bourse, declined by 0.43 per cent, or 7.15 points, to close at 1,637.88 points.
The Shariah index of the DSE, DSES, however, added 0.06 per cent, or 0.64 points, to close at 1,004.74 points.
Turnover of the bourse increased to Tk 394.13 crore from Tk 378.57 crore in the previous trading session.
‘Stocks kept sliding for third consecutive session, wiping off the entirety of earlier three-session gain,’ IDLC Investments said in its daily market commentary.
‘Beside, volatility was prominent with stock-specific movements. Consequently, the bourse ended flat, keeping DSEX below 4,500-point level for second session,’ it said.
Amid the shaky confidence, participation couldn’t improve much either, keeping turnover below Tk 400- crore level for the third consecutive session, said IDLC.
Of the 186 shares and mutual funds traded on Monday, 159 advanced, 96 declined and 31 remained unchanged.
Grameenphone led the turnover leaders with its shares worth Tk 17.02 crore changing hands.
Matin Spinning Mills, Lankabangla Finance, MBL First Mutual Fund, Square Pharmaceuticals, Meghna Petroleum, CVO Petrochemicals, Lafarge Surma Cement, Bangladesh Submarine Cable Company and Emerald Oil Industries were among the other turnover leaders.
-With New Age input
