Stocks finish nearly flat

Stocks closed the last trading session of the week nearly flat amid choppy trading, as investors were gripped with volatility fears over the market regulator’s latest move on portfolio statements of big individual investors.
The benchmark index of Dhaka Stock Exchange — DSE General Index — rose 4.56 points, or 0.07 percent, to 6,309.43.
Stockbrokers and merchant bankers said the Securities and Exchange Commission on Wednesday directed them to send portfolio statements of their top individual clients.
“The direction has dampened investor confidence,” said a stockbroker.
The SEC said it was a routine job.
The regulator wanted to look at whether the stockbrokers and merchant bankers complied with rules over the loan margin ratio for their clients.
Starting off with a negative trade, the market ups and downs for five times. However, a late rally pulled the bourses into the positive territory.
Telecom, ceramics and non-bank financial institutions were the major sectors behind the slight rise in the market.
Bank, fuel and power, and engineering sectors led the list of negative performers on the premier bourse.
The daily turnover slipped to Tk 1,248 crore, 21 percent down from the previous day’s value.
Losers beat advancers 133 to 108. However, seven securities remained unchanged on the DSE, which traded more than 5.78 crore shares and mutual fund units.
Titas Gas, the state-run fuel company, topped the turnover leaders with more than 7.92 lakh shares worth Tk 85 crore being traded on the floor.
Chittagong stocks finished nearly flat with the CSE Selective Categories Index edging up 4.14 points, or 0.03 percent, to 11,974.27.
More than 1.25 crore lakh shares and mutual fund units changed hands on the Chittagong Stock Exchange on a value of Tk 144.79 crore.
Losers beat gainers 90 to 74 with nine securities remaining unchanged on the port city bourse.
Beximco Limited topped the turnover leaders with more than 8.28 lakh shares worth Tk 24.33 crore being traded on the floor.

Courtesy of The Daily Star