DSEX edges up in choppy trade

A topsy-turvy session at the Dhaka Stock Exchange ended on a flat note on Thursday as the benchmark DSEX index managed to gain marginally amid cautious trading.

The market faced selling pressure at regular intervals amid worries on the economic front after looking past the raging war between Russia and Ukraine.

Following the previous day’s decline, DSEX gained slightly 2 points or 0.03 per cent to settle at 6,752 after hitting a low of 6,732 and a high of 6,764.

Since the securities regulator, BSEC instructed stock exchanges about two weeks back to calculate the lower limit circuit breaker at 2 per cent for all issues, the market closed flat in most of the sessions.

Two other junior indices—the Shariah-based DSES saw a fractional rise of 0.38 points or 0.02 per cent to 1,456. The blue-chip comprising DS30 index dropped slightly 2 points to 2,466.

Khulna Power Company Limited was the top gainer hitting the upper limit circuit at 10 per cent on the news that its 40-MW power plant in Noapara of Jashore.

“Equity indices observed a see-saw session and the core index ended flat as investors were hesitant to make new investments amid the ongoing volatility in the market despite the securities regulator urging banks to make fresh investments,” said the EBL Securities in a note.

Trading activity remained jittery, and market participation was lower than the last session, as most investors remained on the sidelines as a result of the temporary circuit breaker caused many equities to remain dearer at the current price level for investors.

Resultantly, bourses observed drop in participation as the turnover declined by almost 4 per cent over the previous session to stand at Tk 8,300 crore.

The trading was mostly concentred on miscellaneous (14.5 per cent), followed by pharmaceuticals (13.3 per cent) and banks (10 per cent).

Out of the 384 issues traded, 143 advanced, 171 declined, and 70 remained unchanged.

The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have inched up by 13.6 points and 22.4 points respectively.