Dhaka stocks end flat amid profit taking

Staff Correspondent | Published: 23:04, Jul 11,2017 | Updated: 01:09, Jul 12,2017


Dhaka stocks ended flat on Tuesday with the rise of turnover because of late-hour profit taking sales following early gains.
The key index of the bourse, DSEX, increased 0.06 per cent, or 3.58 points, to close at 5,830.77 points on Tuesday after gaining 82 points in the previous two sessions.
The market increased little as the investors remained active from the side of the trading fence after crossing the psychological barrier of 5,800 point marks in the previous session, market operators said.
In line with previous session, the market started with bullish vibe, gaining 53 points in the early session as banking shares surged significantly amid optimism, they said.
The market lost the momentum afterwards sliding 4 points when banks’ shares faced some corrections to its early gains, and closed positive at the end., they said.
The bullish vibe at the market eased as investors chose profit taking policy following continuous surge in its key index to avoid any unforeseen loss, stockbrokers said.
The profit taking tendency from the large capitalised sectors including shares of pharmaceuticals, energy and non-bank financial institutions made in little advance, they said.
Some investors remained in the buying mood following an increase of net foreign investment at DSE by five-fold in 2016-17 fiscal year compared to that in the previous year that drew the attention of many investors, they said.
Due to the current market surge, a number of investors started to inject fresh funds in an expectation of further rise in share prices, market operators said.
The benchmark index gained 352 points in the last 13 trading sessions with two negative sessions.
Bank ands telecommunication continued their winning spell, gaining 0.9 per cent and 0.1 per cent respectively on the day.
On the other hand, NBFIs, energy and pharmaceuticals declined by 0.9 per cent, 0.3 per cent and 0.1 per cent respectively.
‘The capital bourse of the country uplifted slightly as investors from both sides of the fence remained active throughout the day,’ said EBL Securities in its daily market report.
The market capitalisation continued breaking previous records closing Tk 389354.72 crore on Tuesday.
The turnover increased to Tk 1,320.68 crore from that of Tk 1,264.43 crore in the previous trading session.
The day’s turnover was the highest after February 23 when the turnover was Tk 1,333.15 crore this year.
DS30, the blue-chip index of the DSE, gained 0.20 per cent, or 4.45 points, to close at 2,126.60 points after gaining 13 points in the previous session.
The Shariah index, DSES, gained 0.16 per cent, or 2.16 points, to finish at 1,321.85 points.
Of the 331 companies and mutual funds traded, 195 declined, 107 advanced and 29 remained unchanged.
Bangladesh Export Import Company led the turnover chart with its shares worth Tk 60.87 crore changing hands.
Keya Cosmetics, Islami Bank, Agni Systems, City Bank, Mercantile Bank, Prime Bank, Saif Powertec, Fu Wang Foods and Confidence Cement were the other turnover leaders.
Agni Systems gained the most with a 7.29 per cent increase in its share price, while Bangas Limited was the worst loser, shedding 6.70 per cent. 

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