Stocks end flat amid volatility

Dhaka stocks closed flat after the volatility on Thursday as investors booked profits from the previous session’s sharp gains.

The benchmark DSEX index was marginally up 12 points or 0.19 per cent to settle at 6,560, extending its winning streak for the third straight session.

The blue-chip index DS30 rose 22 points or 0.95 per cent to 2,376 while the DSES index, which represents Shariah-based companies, saw a fractional rise of 0.97 points or 0.06 per cent to 1,441.

The DSE turnover decreased 14.7 per cent to Tk 1,878 crore backed by the pharmaceutical sector that made up more than 23 per cent of the total turnover.

Jute, miscellaneous and cement sectors closed positive while travel & leisure, paper & printing and services & real estate and ceramics sectors faced correction.

Market capitalization reached Tk 522,509 crore, declining by 0.03 per cent.

“The equity indices of the Dhaka bourse managed to stay afloat, fueled by the price appreciation of some large-cap stocks despite volatility throughout the session as investors’ buying appetite was concentrated on selective stocks being induced by positive expectations from the upcoming earnings declarations,” said the EBL Securities in a note.

The majority of the scrips witnessed corrections due to extended profit-booking by a segment of investors as their concerns swirled around the performance outlook of the companies arising from the recent volatility on the macroeconomic front, particularly regarding rising input costs due to spiraling inflation, it said.

However, a buying binge on some particular large-cap stocks helped keep the index on green trajectory, it added.

Out of the 386 issues traded, 72 advanced, 188 declined, and 126 remained unchanged.

Orion Infusion was the day’s top gainer and was trailed by Orion Pharmaceuticals and Sonali Aansh.

Beximco was the top turnover leader with shares worth Tk 264 crore changed hands, followed by Orion Pharmaceuticals, Lafarge Holcim Bangladesh Limited, JMI Hospital Requisite Manufacturing, and Nahee Aluminum Composite Panel.

The port city bourse, CSE, also settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 48.5 and 79.8