Stocks close flat on regulator’s revival move
11 November 2015, Nirapad News: Stocks closed flat on Tuesday after the regulator initiated a move for reviving the market that suffered major loss to the recent unstable share prices.
The broader DSEX of Dhaka Stock Exchange (DSE) ended the session only 6.32 points lower at 4410.47 when the blue-chip DS30 inched up at 1681.48. The Shariah DSES, however, followed the broader index to close marginally lower at 1066.16.
DSEX gained over 34 points during the opening hour when investors were active in anticipation of regulators’ move to revive capital market, with extending the timeframe for provision against unrealised losses. The morning upbeat could not sustain as buyers became less active during the second half of the session to watch the quarterly earnings data.
The lower activities resulted in further 8.65 percent fall in the daily trade value, which dropped below Taka 300-crore mark to tally at Taka 294 crore for 7.90 crore shares. The trade volume, however, was marginally lower over the previous day’s turnover.
Some of the major sectors including bank, food and allied and pharma regained on the day, but the favourite sectors like fuel and power, textile and NBFI were down on sale pressures from profit-booking and repositioning.
Northern Jute, Legacy Footwear, Gemini Sea, IPDC and Mithun Knitting were the top gainers among the day’s 96 advancing issues. Prices of 166 securities fell on the buyer’s market, with ICB, MHSML, Zaheen Spinning, Emerald Oil and Shympur Sugar losing most.
Titas Gas topped the turnover list followed by Ifad Autos, Squire Pharma, Quasem Drycell, Beximco Pharma and Lafarge Surma. Chittagong Stock Exchange (CSE) also ended lower on Tuesday, with its major CSCX shedding over 23 points to finish at 8192.22.
Out of the day’s 238 issues traded, only 83 gained and 120 incurred losses when over 62 lakh shares changed hands for Taka 19.30 crore.