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Stocks end flat amid thin trading

Update : 02 Nov 2016, 12:18 AM
Stocks closed flat yesterday with key index DSEX recording minor gain. The benchmark index of Dhaka Stock Exchange DSEX edged over 4 points or 0.1% higher to 4,596, scaling back from its previous two-month lows. The DS30 index, comprising blue chips, shed over 2 points to 1,731. The DSE Shariah Index, DSES, rose over 2 points to 1,102. The Chittagong Stock Exchange Selective Category Index CSCX gained 2 points to 8,608. The volume of trade fell further to nearly Tk377 crore, down 3% compared to Tk389 crore of the last session. Doreen Power Generations and Systems rebounded and rallied over 4% after a sharp fall in previous session hit by the news that Bangladesh Securities and Exchange Commission started to investigate its recent unusual share price hike. Losers beat gainers as out of 324 issues traded, 121 closed higher, 151 lower while 52 remained unchanged. Lanka Bangla Securities said stocks firmed up considerably in the morning due to the positive earnings declarations. However, it got off to a directionless movement in the early afternoon, fading the morning enthusiasm in the market. Major stocks of the blue-chip index of DSE were under the selling pressure which eroded the early gain in the benchmark index. Telecommunications sector saved the market from closing losses as it surged around 1.5%, ending its three-day losing streak. Among the other major sectors, cement, textile, non-banking financial institutions and pharmaceuticals sectors ended marginally higher. On the other hand, power, food & allied, engineering and banks closed flat in red. Quasem Drycells was the most traded stocks followed by Doreen Power, MJL Bangladesh, Bangladesh Building System, Fortune Shoes and Confidence Cement.
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