Stocks closed flat as afternoon profit-taking rolled back morning gains.
Still, some investors preferred to book quick gains as they were unconvinced over the market stability in future, sending the market to the negative territory, analysts say.
The benchmark index DSEX edged more than 2 points lower to 4,619.
The Shariah index DSES saw a fractional rise of 0.5 points to 1,115. The blue chip comprising index DS30 closed at 1,115, inching over 2 points or 0.2% higher.
The Chittagong Stock Exchange Selective Category Index CSCX was down 0.3 points to settle at 8,596.
The turnover, however, improved because of strong selling pressure in the final hour as the DSE turnover stood at Tk564 crore, up over 17% over the previous session.
Engineering and other mid and small cap stocks were upbeat, however all other major sectors saw some sell pressure.
“After seeing initial strength, stocks have given back some ground, closing the benchmark index at flat red zone. Yet relapse frequently is marked by recovery, so Dhaka stocks seesaw in cautious trading,” said Lanka Bangla Securities.
IDLC Investments said as the session progressed, volatility surged in the market with fidgety investors exerting selling pressure to book some handy gains. “On the other hand, as the year-end countdown began, some investors opted for remolding their portfolio, fine-tuning their investment insights.”
The low-cap engineering sector still remained in spotlight as it rallied almost 3%, extending its gaining streak for the third straight session.
The gain was led by the country’s giant steel maker BSRM Steel that climbed 5.7% and accounted for 27% of the total DSE turnover.