Stocks ended flat yesterday as profit-booking mainly on heavyweights broke the three-day gaining streak.
The benchmark of the Dhaka Stock Exchange, DSEX, added over 51 points or 1% to close at 4,583.
The Shariah index, DSES, was slightly up 10 points or almost 1% to 1,122. The blue chip comprising index DS30 rose 17 points or nearly 1% to 1,769. The Chittagong Stock Exchange prime index, CSCX, settled at 8,584, rising 107 points.
Banks that remained under pressure for long due to rising non-performing loan took a heat, dropping more than 1%, on the news that most private banks saw their profits rise, though slightly, in the first six months this year despite political unrest and a cut in lending rates.
Telecommunication, among heavyweight sectors, managed to remain in positive terrain, as it edged 0.6% higher. Engineering and textile sectors continued to rally.
Life Insurance, and Food and Allied sector were the worst loser losing around 2% each. Non-banking financial institutions were also down.
Trading activities at DSE were slower compared to the last trading session, but closed just over Tk500 crore, down more than 14% over the previous session.
Despite the muted participation in broader market, aviation stocks continued to perform well.
IDLC Investments said market predictably encountered sell off as financial year end passed by and tax incentive seekers liquidated their holdings.
Large and mid cap scrips have been negative, as they accumulated the most presiding the fiscal year end, it said adding that despite other cap classes being positive, heavyweight of the large and mid caps pulled the main index down.
Lanka Bangla Securities said after moving notably higher in past three trading session, benchmark index give back some ground in the middle of the session.
However, the index closed flat in red zone as blue-chip stocks helped the market recover at the end, it said.