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Stocks close flat on profit-taking


WT24 Desk

Stock market closed on Monday flat on profit-booking selling after showing a strong upward trend at the opening of the week, BSS reports. All the indices at the country’s twin stock exchanges were down on the day. The market had a bullish start on Sunday ahead of the national budget, which would be placed in the parliament on June 2 for the coming 2016-17 financial year (FY17).

The broader DSEX price index of Dhaka Stock Exchange (DSE), however, ended flat in red at 4423.00 when the blue-chip DS30 and the Shariah DSES followed it to finish marginally down at 1733.77 and 1089.69 respectively.  Similarly, Chittagong Stock Exchange (CSE) ended the day flat in red, with its major CASPI finishing only 11.85 points up at 13612.11.

Out of the day’s 317 issues traded at DSE, 107 gained against 157 losing securities. On CSE, 125 finished the session lower when 81 issues gained out of the day’s 234 traded issues. “After having a quick jump of more than 60 points in the benchmark index in the last two trading days, stocks saw some natural correction today (Sunday). Investors came to cash in on stocks, which rallied in recent time,” said Lanka Bangla Securities Limited.

The day’s trade value at DSE rose by 8.35 percent to Taka 463.70 crore when the trade volume was almost static at 14.87 crore shares. At CSE, the trade value was Taka 28.94 crore for 1.18 crore shares.  Among the day’s major gaining sectors were bank, engineering, fuel and power, and tannery when cement, food and allied and textile sectors lost marginally.

The top five advancing companies were Modern Dyeing, Zeal Bangla, VAMLBDMF1, Titas Gas and Paramount. The major losing issues were Saif Power, Tunghai, Samata Leather, Janata Insurance and Sino Bangla.

Titas Gas was the top turnover leader followed by Lafarge Surma, Saif Power, MJLBD and SPCL.

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