Stocks end nearly flat amid low turnover

Stocks ended almost flat on Tuesday as most of the investors followed cautious stance amid the ongoing virus tension.

DSEX, the key index of the Dhaka Stock Exchange, went up by 2.28 points or 0.05 per cent to close at 3,960.

The DSE core index has been hovering between 3,953 and 3,969 points for the past 10 sessions as most of the investors remain reluctant to make any fresh investment amid worsening situation of the deadly virus.

Market analysts said the budget failed to meet investors’ expectations amid the growing tension over the Covid-19 pandemic. Besides, the floor price mechanism kept investors reluctant to put fresh stakes in stocks.

The worsening pandemic situation has made the market almost buyer-less in recent days as the outbreak is going to put a long-lasting adverse impact on the country’s economy.

Turnover remained below Tk 1.0 billion-mark for the past six trading sessions to Tk 653 million on Tuesday, a 6.18 per cent higher than the previous day, as investors were not showing any enthusiasm about buying shares due to the worsening Covid-19 pandemic.

Most of the shares remained stuck at the trading floor.

Of the issues traded, 206 remained unchanged while only 20 issues advanced and 20 declined on the DSE trading floor.

Two other indices also edged higher. Of them, DS30 index, comprising blue chips, advanced 0.86 point to finish at 1,325 and DSE Shariah Index gained 0.67 points to close at 918.

A total number of 10,527 trades were executed in the day’s trading session with a trading volume of 24.60 million shares and mutual fund units.

The market-cap of the DSE also inched up to Tk 3,103 billion, from Tk 3,102 billion in the previous session.

Beximco Pharma topped the turnover chart with shares worth Tk 61 million changing hands, followed by Beximco, National Bank, Linde Bangladesh and Reckitt Benckisher.

Desh Garment was the day’s best performer, posting a gain of 4.54 per cent while ICB Employees Provident Mutual Fund One was the worst loser, losing 5.88 per cent.

Chittagong Stock Exchange edged higher with its All Shares Price Index (CASPI) gaining 4.45 points to close at 11,243 and Selective Categories Index (CSCX) advancing 2.77 points to finish at 6,811.

Of the issues traded, 16 gained, 12 declined and 60 remained unchanged on the CSE.

The port city bourse traded 831,524 shares and mutual fund units worth Tk 17 million in turnover.

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