Dhaka stocks close flat
Dhaka stocks finished almost flat yesterday, as bank shares failed to continue its positive trade to the end.
The benchmark index of Dhaka Stock Exchange, DSE General Index, gained 1.04 points, or 0.03 percent, to 3,002.5. The DSE All Share Price Index rose 1.81 points, or 0.07 percent, to 2,522.37.
The market started off quite positively with the key index moving up 16 points in the opening five minutes, as almost every sector gained.
After that, the index lost continuously until the mid-session mark. Banks and fuel and power companies, which lost continuously after initial gains, fuelled the downtrend, Equity Partners Limited (EPL), an investment firm, said in its daily market analysis.
Most banks lost. IFIC Bank, which fell by 3.9 percent, and Shahjalal Bank, which declined by 3.4 percent, were the biggest losers.
The fuel and power sector also declined. However, Eastern Lubricant gained 14.5 percent.
The market stabilised a bit after the mid-session and held steady for the rest of the day.
Non-bank financial institutions (NBFIs) and insurance companies were gaining on speculation that a directive to increase their paid-up capital is imminent, the EPL said.
Almost all NBFIs gained with some increasing by more than 6 percent. All insurers also gained.
Advancers beat losers 148 to 92. One security remained unchanged. A total of 3,70,65,199 shares worth Tk 680.55 crore traded on the premier bourse.
Bextex topped the turnover leaders with 43,43,200 shares worth Tk 31 crore traded on the DSE.
Eastland Insurance was the highest gainer that increased by 14.95 percent to Tk 895.75 per share. BLTC declined 9.63 percent to Tk 190 to finish as the top loser.
Chittagong stocks however closed mixed yesterday. The CSE Selective Categories Index rose by 34.7 points, or 0.52 percent, to 6,645.01. The CSE All Share Price Index declined by 4.76 points, or 0.04 percent, to 10,559.24.
A total of 47,98,629 shares worth Tk 54.34 crore changed hands on the Chittagong Stock Exchange. Of the traded securities, 102 advanced, 72 declined and one remained unchanged.
Bextex topped the turnover leaders on the port city bourse with 4,78,600 traded shares worth Tk 3.41 crore.
Khaza Mosaic Tiles and & Stone Ind was the highest gainer on the CSE that rose 20 percent to Tk 3.60, while Hakkani Pulp and Paper Mills was the top loser that dropped by 16.12 percent to Tk 63.50.