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Stocks close flat despite rise in trade

WT24 Desk

Stock market ended flat on Tuesday despite rise in daily transaction and considerable increase in number of the securities closing higher, agencies report. The broader index at Dhaka Stock Exchange (DSE) finished the third session of the week only 6.18 points down at 4578.85 when the CSCX index of Chittagong Stock Exchange (CSE) closed the day almost unchanged at 8587.34.

The two selective indices of DSE – the blue-chip DS30 and Shariah DSES – were also down at 1752.72 and 1118.87 respectively. The market favoured sellers, with demand increasing considerably and pushing the daily trade value to Taka 460 crore from Monday’s Taka 445.75 crore and the trade volume to 11.21 crore shares from 10.13 crore shares of the previous day.

The higher transaction eventually drove prices of 132 securities up against 126 losing issues on DSE while 122 issues gained and 85 incurred loss on CSE. Majority of losing issues were from large-cap group when mutual funds and newly listed securities showed some strength.

Insurance companies also performed comparatively well with three of this group getting position in the top five gaining companies. These are: Reliance Insurance, Far East Life and Sonar Bangla Insurance. The two other companies among the top five gainers included Fu Wang Ceramic and Aman Feed.

Zeal Bangla Sugar, Libra Infusion, 7th ICB and Gemini Sea Food were the day’s major losing securities while the top five actively traded issues were BSRM Limited, UPDGL, Aman Feed, Beximco Pharma and AF Cargo.

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