Stocks inched down amid choppy trading yesterday, extending their profit-booking losing streak for the second straight day.
The stocks opened on a positive note but late profit booking selling pressure cut early gains.
The benchmark index DSEX was marginally down over 1 point to 4,676.
The Shariah index DSES shed only 2 points to 1,124. The blue chip comprising index DS30 closed at 1,764, slipping 7 points or 0.4%.
The Chittagong Stock Exchange Selective Category Index CSCX shed marginally about 5 points to 8,680.
Trading activities declined as the DSE turnover stood at Tk608 crore, which was 5.5% lower than the previous session’s value. Around 20% turnover came from fuel and power sector.
All the major sectors including bank, fuel and power, food and allied, telecommunication and textile increased marginally. On the other hand, cement, non-banking financial institutions and pharmaceuticals decreased marginally.
IDLC Investments said choppy trading closed the market flat, as profit booking and repositioning pressure wrestled each other across the session.
With WB’s reiteration of expectation of 6.5% growth in FY2015-16 and concurring development of gradual pick-up in private sector, credit growth helped provide a bright start for the year, it said.
“Investors, however, still lack confidence which is prompting them to book quick returns and volume trading rather than taking a long-term position.”
Lanka Bangla Securities said index ended flat for consecutive two trading sessions. The total turnover of the market, however, crossed Tk600 crore, which could be considered satisfactory.
United Power Generation and Distribution Company Limited topped the turnover list followed by ITC, Emerald Oil Industries, Khulna Power Company Limited, Beximco, BD Thai Aluminum, Summit Power and Summit Alliance Port Limited.
