Published: Wednesday, April 24, 2013

Stocks end flat on hartal day

Stocks ended flat on the first day of the 36-hour countrywide BNP strike, as investors adopted a wait-and-see policy. DSEX, the benchmark general index of Dhaka bourse, finished the day at 3,515.26 points, after falling 0.70 points or 0.01 percent.
Turnover dropped 9.01 percent to Tk 121 crore, the lowest in two and a half weeks.“As clouds covered the entire investment outlook once again over political ripples, the bourse underwent the third consecutive flat session,” IDLC Investments said in its market analysis.
“Since business dynamics are passing through political vibrations, investors adhered to a conservative stance over heightened uncertainty.”
“Investors showed nervous moves throughout the trading session,” LankaBangla Securities said in its market analysis.
A recent survey by LankaBangla Securities found that political instability poses the biggest risk to the economy and the capital market in 2013.
A total of 0.56 lakh trades were executed with 3.92 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 274 traded issues, 143 advanced, 100 declined and 31 remained unchanged.
The major sectors posted mixed results with pharma and telecoms rising 0.66 percent and 0.52 percent.
However, other big sectors ended in the red; non-bank financial institutions lost 0.44 percent, followed by power 0.19 percent and banks 0.16 percent.
Newly listed Bengal Windsor Thermoplastic featured in the most traded stocks chart with 12.81 lakh shares worth Tk 7.12 crore changing hands.
Square Pharma and RN Spinning Mills were the next popular stocks of the day.
Monno Ceramic was the biggest gainer of the day, accelerating 9.39 percent, while One Bank was the worst loser, plunging 16.57 percent.
The Chittagong Stock Exchange also gained yesterday as CSCX, the selective categories index, rose 19.26 points or 0.28 percent, to close at 6,959.64 points.
Losers beat gainers 88 to 73 with 28 securities unchanged on the port city bourse that traded 49.68 lakh shares and mutual fund units with Tk 14.62 crore in turnover.