Stocks finished flat with volatility yesterday, extending their losing streak for the sixth session, as investors adopted continuously cautious mood over dipping declining volume of trade.
After losing more than 30 points in the mid-session, the benchmark of the Dhaka Stock Exchange, DSEX, recovered well and edged almost 2 points lower to close at 4,455.
The Shariah index, DSES, witnessed fractional gain of 0.09 points to 1,092. However, the blue chip comprising index DS30 was marginally down more than 1 points to 1,715. The Chittagong Stock Exchange prime index, CSCX, settled at 8,361, slipping 16 points.
Investors preferred to hold back their investments, pushing the DSE turnover to Tk346 crore, down 7% over the previous day. In its first trading day, Olympic Accessories gained 384% to Tk48.4 a share on its offer value, before rising as high as almost Tk50 and as low as Tk35.
The debutant was the most traded stocks with shares worth nearly Tk40 crore changing hands, accounting for more than 11% of the total turnover.
the prices of majority issues declined as out of 318 issues traded on the day, 93 advanced, 172 declined and 53 remained unchanged.
The market went in red immediately after opening, mainly dragged down by cement, mutual fund, power and textile stocks. However, buying interest on banks, non-banking financial institutions and pharmaceutical stocks recovered some losses in the wee hour.
Lanka Bangla Securities said market consistently struggled under selling pressure since it broke the 4500-mark and closed on red zone for the sixth successive session.
IDLC Investments said market resumed with investors in selling mode, bringing down indices in the early hours of the session. As time passed by, buyers reemerged in the market mopping up some of the supply, it said.
After Olympic Industries, other top turnover leaders include Square Pharmaceuticals, AFC Agro, Lafarge Surma Cement, Khulna Power Company and Saif Powertech.
