Stocks ended flat amid choppy trading on the first trading day after a nine-day Eid vacation.
The market opened with red in the morning as few large cap stocks butchered by heavy sell-offs, which gained earlier before market closed on vacation.
However, some other stocks gained owing to positive return in quarterly earnings, sending the market in the negative territory.
The benchmark DSEX was down over 6 points or 0.2% to end at 4,420. It closed higher just a day before the vacation begun on July 25. The Shariah index, however, marginally gained 3 points or 0.4% to 1,008. The comprising blue chips DS30 inched 4 points or 0.3% higher to 1,631.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, fell 10 points to 8,371.
Flow of fresh funds has helped the DSE turnover to cross Tk400-crore mark after seven weeks. It stood at Tk428 crore, a sharp increase of 26% over the previous session and highest since June 11 this year.
Backed by the heavy-weight scrips, cement led the market with 3.3% gain, followed by fuel and power 1.5%, textile 1.8% and telecommunication 1.7%.
Textile sector performed well spurred by the news of increased export in USA and EU. In the financial sector, non-banking financial institution edged higher and banks lower.
Declined earnings increased sale pressure of Beximco, the flagship company of the Industrial conglomerate Beximco Group. The scrip was down by 8.64% to secure worst position in top ten losers’ list.
Lanka Bangla Securities said the Matijheel street opened with mixed participation in trading floor. “Investors were sent on a wild ride all day, as benchmark index zigzagged up and down.”
It said the Index lost as few large cap stocks butchered by heavy sell-off, which gained earlier before market closed on vacation. However, some other stocks gained owing to positive return in quarterly earnings.
“Buying spree was also present actively among the investors keeping the market breadth on flat note.”
The market saw similar number of gainers and losers as out of 206 issues traded, 128 lost, 128 gained and 39 remained unchanged.
IDLC Investments said volatility surged from the very beginning of trading with 57 scrips changing more than 3% of their respective price. Eventually, the bourse ended flat, it said.
