Stocks end flat as investors cautious about market movement

Dhaka stocks failed to stay afloat owing to the selling binge of investors as they preferred to remain watchful ahead of the upcoming corporate earnings declarations.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), slipped 0.2 points to settle at 6,214 against 6,214 in the previous trading session.

Among other indices, the DS30, the blue-chip index, added 1.25 points or 0.05 per cent to close at 2,200, and the DSES, the Shariah-based index, rose 0.18 points or 0.01 per cent to 1,348.

Meanwhile, the prime bourse witnessed a decrease in participation, with the DSE turnover falling by 18.5 per cent to Tk 498 crore against Tk 612 crore in the previous session.

Block trades contributed 7.6 per cent of the overall market turnover.

Investors remained active on both sides of the trading fence as investors continued their chase to take positions in quick rallies and booking profits to secure their short-term gains from the continuously volatile market, according to EBL Securities, a stockbroker.

The IT sector topped the turnover chart with a contribution of 20.7 per cent to the total turnover of the DSE, followed by food (15.9 per cent), and travel (8.7 per cent).

Most sectors displayed mixed returns at the capital bourse, with the travel gaining the most with a return of 1.2 per cent, followed by tannery (0.8 per cent) and bank (0.5 per cent).

On the other hand, the jute sector faced the highest correction of 4.0 per cent, followed by services (1.4 per cent) and paper (1.1 per cent).

Genex Infosys Limited was the top traded stock, with Tk 37 crore worth of its shares changing hands, followed by Gemini Sea Food Ltd, and aamra networks limited.

Midland Bank Limited topped the gainer list with a return of 9.3 per cent, while Al-Haj Textile Mills Limited was the day’s worst sufferer with a loss of 5.9 per cent.

Out of the issues traded, 40 advanced, 75 declined and 277 remained unchanged on the DSE trading floor.

The port city bourse, CSE, however, settled on green terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – inched up by 2.2 points and 4.5 points respectively.