Stocks close flat in choppy trade

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The market swung between negative and positive extremely throughout the session, as intra-day volatility was around 10 points.

The DSE benchmark index DSEX witnessed a fractional rise of 0.7 points to 4,569 while the blue-chip comprising index DS30 inching over 3 points down to 1,785. The DSE Shariah Index DSES lost only 1 point to 1,121.

The Chittagong Stock Exchange Selective Category Index CSCX rose 10 points to 8,562.

Cement sector suffered most as it declined 1.4%, led by Lafarge Surma with a drop of over 2%.

Most other sectors like bank, telecommunication, non-banking financial institution and power fell marginally.

Engineering sector was the best performer rising about 1.2%, driven by BSRM Steel, the country’s leading steel maker that gained over 2%.

Textile sector was the second best performer posting a rise of 1%, led by Desh Garments that climbed about 7%. Food & allied and pharmaceuticals sectors closed flat.

Trading activities improved but still remained far below than expected level as the DSE turnover stood at Tk4.6 billion, up more than 10% from previous session.

Tannery sector showed the highest turnover increase of over 87% while telecommunication showed the highest turnover loss of about 50%.

Engineering sector had the highest contribution of over 21% to the total DSE turnover.

BSRM Steel topped the turnover leaders, removing the state-owned gas distribution company Titas Gas that came in second after remaining on top position over the last three consecutive sessions.

It was followed by CVO Petrochemical, DBH, BSRM Steel and Bangladesh Submarine Cable Company Limited.


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