Stocks witness another flat session

Sunbd Desk || Published: 2020-06-23 13:51:12 || Updated: 2020-06-23 13:51:12

Turnover at the DSE increased by 40 percent, to Tk72 crore, on Tuesday – from Tk51.3 crore in the previous session

Stocks ended another session flat on Tuesday as investors remained cautious – owing to uncertainty looming over the economy due to the pandemic.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced a point, or 0.03 percent, to close the day at 3,963.

The Shariah-based DSES index inched down 0.5 points, or 0.06 percent, to settle at 918.2. Meanwhile, the blue-chip index DS30 went down 0.4 points, or 0.03 percent, to stand at 1,326.4.

Caspi – the benchmark index of the Chittagong Stock Exchange – lost 7 points, or 0.07 percent, to close at 11,248.

The market started the session downbeat but witnessed a sharp gain in points during initial hours of trade. It then immediately faced a steep fall on the intraday performance graph and remained flat till the end of the session.

According to the Daily Market Review of EBL Securities Ltd, the premiere bourse witnessed another flat session as the pandemic situation is not improving and there is looming uncertainty about economic growth.

Investors remained cautious owing to the quarterly earnings and dividend declarations of listed companies.

“Most of the shares remained stuck on the trading floor due to a lack of participation from the investors,” added the review.

The jute sector witnessed the highest price correction of 2.4 percent on the sector return board on Tuesday. On the other hand, the banking, life insurance, fuel and power, textiles, and engineering sectors all posted a highest price appreciation of 0.1 percent.

Among the other large-cap sectors, pharmaceuticals lost 0.2 percent, while telecoms and cement remained flat.

Turnover at the DSE increased by 40 percent, to Tk72 crore, on Tuesday – from Tk51.3 crore in the previous session. Also, turnover at the port city bourse increased by 232 percent from Tk9.16 crore to Tk30.4 crore.

The pharmaceuticals sector, once again, contributed the most, at 43.4 percent, to the total turnover value. It was followed by banking stocks at 20.9 percent and engineering stocks at 10.1 percent on the sector-wise turnover distribution board.

Beximco Pharmaceuticals Ltd topped the turnover chart with turnover value of Tk9 crore, closing the day at Tk63 per share. The stock was followed by the Bangladesh Submarine Cable Company Ltd with a turnover value of Tk4 crore, closing the day at Tk78.4 per share.

Tosrifa Industries Ltd was the best performer on the gainers’ table, gaining 3.8 percent and closing at Tk10.9 per share.

Ambee Pharmaceuticals Ltd was the worst loser, shedding 6.1 percent and closing at Tk431.7 per share.

Of the 274 issues traded on Tuesday, 14 advanced, 24 declined and 236 remained unchanged on the DSE trading floor.

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