Dhaka stocks finish flat amid profit-taking sales

Staff Correspondent | Published: 00:00, Nov 22,2016

 
 

Dhaka stocks finished flat on Monday due to investors’ profit booking from banks’ and non-bank financial institutions’ scrips following a four-day market surge.
The key index of Dhaka Stock Exchange, DSEX, finished flat at 4,721.40 points, shedding just 0.01 per cent or 0.58 points. DSEX had advanced 77 points in previous four trading sessions.
After the bullish vibe in last four trading sessions, market saw some profit booking share sales, especially from those of banks and non-bank financial institutions, resulting in a flat ending of the session, stockbrokers said.
On the sectoral front, average prices of banks’ and NBFIs’ shares, which were on the rise in recent times, declined by 0.78 per cent and 0.12 per cent respectively.
On the other hand, textile and energy shares got investors’ attention pushing average share prices of those scrips up by 0.55 per cent or 0.51 per cent, supporting the market to finish flat despite the decline in banks’ share prices.
Turnover of the bourse, however, increased to Tk 610.87 crore compared with that of Tk 573.71 crore in the previous trading session.
Of the 311 companies and mutual funds traded, 136 advanced, 138 declined and 37 remained unchanged.
‘Following the uptrend seen throughout the past four trading sessions, market remained flat on Monday with flat red closing,’ said LankaBangla Securities in its market report.
‘After rising more than 75 points in the recent rally, stocks showed meagre correction amid mixed trading behavior among the investors,’ it said.
‘The broad index DSEX closed on the day at 4,721 points. This is a very critical point for the market as there is strong resistance at this level.
‘If this resistance is broken with similar volume in next session, we may expect the market to move around 150 points upward as the next resistance is at 4,870 level,’ the stockbroker said.
DS30, the blue-chip index of DSE, closed at 1,765.30 points, adding just 0.08 per cent or 1.49 points.
The Shariah index, DSES, inched up by 0.07 per cent or 0.87 points, to close at 1,127.46 points.
British American Tobacco Bangladesh company led the turnover chart with its shares worth Tk 25.27 crore changing hands.
BEXIMCO, Square Pharma, AB Bank, National Tubes, Bangladesh Building Systems, Summit Alliance Port, Golden Harvest Agro Industries, MJL Bangladesh and Mithun Knitting were other turnover leaders.
Aamra Technologies gained the most, adding 8.77 per cent, while Appollo Ispat Complex was the worst loser, shedding 8.07 per cent.

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