Dhaka, Bangladesh (BBN)– Bangladesh’s stocks witnessed another flat session on Tuesday after see-saw movement as investors mostly followed a cautious stance ahead of June-closing.
Most of the investors adopted cautious stance as they awaited the government move to review the proposed tax measures for listed companies, according to market operators.
After witnessing volatility throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 1.80 points or 0.03 per cent, finishing the day at 5,380.
Two other indices also closed slightly higher. The DS30 index, comprising blue chips, advanced 2.66 points to finish at 1,896 and the DSE Shariah Index gained 0.77 point to close at 1,230.
Turnover, another important indicator of the market, rose to BDT 4.53 billion, which was 20 per cent higher than the previous day’s turnover of BDT 3.78 billion.
Meanwhile, the board of directors of Al-Haj Textile Mills laid-off its factory for 30 days with effect from Tuesday.
The board took the decision due to severe fall in volume of sales as a result of lack of demand in the market and shortage of storage facilities for holding stock of finished goods in the godown and also severe blockage of working capital, said an official disclosure on Tuesday.
Among the major sectors, engineering booked the highest gain of 0.55 per cent, followed by power 0.45 per cent, telecommunication 0.26 per cent, and banking 0.08 per cent.
The non-bank financial institutions witnessed the highest loss of 0.26 per cent, followed by food with 0.05 per cent and pharmaceuticals 0.04 per cent.
A total number of 116,655 trades were executed in the day’s trading session with trading volume of 121.64 million securities.
The losers took a modest lead over the gainers as out of 349 issues traded, 161 declined, 131 advanced and 57 issues remained unchanged on the DSE trading floor.
JMI Syringes & Medical Devices topped the turnover chart with shares worth BDT 241 million changing hands, closely followed by United Power, Genex Infosys, Global Insurance and Bangladesh Spinning Corporation.
Prime Finance First Mutual Fund was the day’s best performer, posting a gain of 9.56 per cent while AL-Haj Textile was the worst loser, losing 9.90 per cent following its lay off news.
On the other hand, the Chittagong Stock Exchange ended marginally higher with its CSE All Share Price Index – CASPI –advancing 6.62 points to settle at 16,477 and the Selective Categories Index – CSCX –gaining 3.16 points to finish at 9,985.
The losers beat gainers, as 113 issues closed lower, 97 ended higher and 52 remained unchanged on the CSE trading floor.
The port city bourse traded 33.41 million shares and mutual fund units worth BDT 963 million in turnover.