Despite a decline in the prices of most of the traded scrips, Dhaka stocks finished flat on Monday thanks to a rise in the share prices of some large capitalised scrips.
The key index of Dhaka Stock Exchange, DSEX, finished at 5,695.72 points, adding just 0.26 points or 0.004 per cent following a slight fall in the previous session.
The market opened on a positive note with the key index increasing to 5,715 points within the first one hour of the day’s trading.
The market, however, failed to sustain the vibe as a section of investors continued with profit-booking share sales during the second half of the session, resulting in a flat ending of the session, stockbrokers said.
Despite a fall in the share prices of most of the traded scrips, the market finished flat mainly due to a rise in share prices of some large capitalised companies, they said.
Riding on investors’ dividend-centric investment move, the prices of non-bank financial institutions and banks increased during the session, helping the market to escape from any significant fall, stockbrokers said.
As a result of investors focus, bank and NBFIs captured 20.1 per cent and 16.6 per cent of the day’s total turnover respectively.
The average prices of NBFIs and banks gained 1.80 per cent and 0.70 per cent respectively.
On the other hand, the average prices of real estate, travel and energy declined by 1.5 per cent, 0.8 per cent and 0.02 per cent respectively.
Asked about the recent market trend, Bangladesh Merchant Bankers Association president Md Sayadur Rahman told New Age that although the market passed through a downward trend after the sharp rise till January, the market for the last couple of weeks had been on a slow but steady rise.
Investors’ go-slow approach might be the reason for the slow but upward movement of the market, he said.
Absence of any issues that could hurt investors’ psychology and declining interest rates for banks’ deposit products were among the other reasons for the gradual improvement of the capital market scenario, Sayadur said.
The prices of 176 scrips out of the traded 325 companies and mutual funds declined, while 106 scrips advanced and 46 scrips remained unchanged.
Turnover, a major indicator of investors’ participation on the trading floor, declined to Tk 995.40 crore compared with that of Tk 1,103.75 crore in the previous trading session.
‘The market passed another flat session, as DSEX barely moved from its yesterday’s [Sunday] level and closed at 5,695.7 points,’ IDLC Investments said in its market commentary.
Though the losers outnumbered the gainers, the advancement in large caps, 0.20 per cent, helped the index remain stable, it said.
DS30, the blue-chip index of the bourse, however, declined by 0.23 per cent, or 4.77 points, to close at 2,061.54 points on Monday.
The Shariah index, DSES, fell by 0.20 per cent, or 2.61 points, to close at 1,305.19 points.
IFIC Bank dominated the turnover chart with its shares worth Tk 43.28 crore changing hands.
City Bank, Bangladesh Building Systems, Ratanpur Steel Re-Rolling Mills, AB Bank, LankaBangla Finance, National Polymar Industries, Bangladesh Export Import Company, Beximco Pharmaceuticals and ACI Formulation were the other turnover leaders.
IFIC Bank gained the most, adding 7.14per cent, while Standard Ceramic Industries was the worst loser, shedding 3.88per cent.
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