A solid rally in stocks ran out of momentum in the final session, with the indexes ending modestly higher yesterday.
Rise in non-banking financial institutions, insurer, cement and pharmaceuticals share prices helped lift the market in the morning, but risk-averse investors opted for quick profit on the concern of economic outlook.
The benchmark index DSEX closed 13 points or 0.3% higher to 4,654. It gained 21 points in the previous session.
The Shariah index DSES inched 1 point higher to 1,125.
The blue chip comprising index DS30 was up 5 points or 0.2% to 1,777.
The Chittagong Stock Exchange Selective Category Index CSCX rose 12 points to 8,664.
Telecommunication sector fell almost 1%, breaking its gaining streak over the last few sessions. Banks, power, food and allied and engineering declined marginally.
Trading activities declined 7.5% to Tk558 core from the previous session’s almost four-month high of Tk604 crore.
Lanka Bangla Securities said the recent strength on DSE partly reflects bargain hunting on the heels of recent weakness, which came amid concerns about the economic outlook.
“However, the upward move on the day was partly offset by the mild pullback seen over the last hour of the session.”
IDLC Investments said the market started with a positive energy reaching for higher scrip prices.
However, the bourse could not maintain the pace till the end as investors were yet to be confident enough on the current price movements to overcome their indecisive mindset, it said.
Quasem Drycell was the most-traded share with a turnover worth Tk25.5 crore, followed by BSRM Steel, Square Pharmaceuticals, MI Cement, Delta Life Insurance and Saif Powertech.
