Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended flat amid heavy volatility on Thursday as investors were cautious ahead of budget announcement.
The Finance Minister AMA Muhith is unveiling the national budget for the fiscal year 2015-16 at the parliament at 3:30pm in the afternoon.
The market moved heavily between red and green throughout the session as intra-day volatility was around 40 points.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged 4.58 points or 0.09 percent higher to settle at 4,591.42 points.
DSE30 index, comprising blue chips, gained 7.29 points or 0.41 percent to end at 1,765.18 points. The Shariah Index DSES also slightly up by 4.23 points or 0.37 percent to close at 1,117.59 points.
Turnover, the crucial indicator of the market, fell drastically to BDT 4.99 billion, which was 31 percent lower that the previous session’s BDT 7.25 billion.
A total of 310 issues traded on the day. Of which, 141 closed in green, 135 in red and 34 remained unchanged.
Summit Power was the day’s most traded stocks with shares of BDT 429 million changing hands followed by KPCL, Beximco, AFC Agro and FAR Chemicals.
FAR Chemicals was the day’s top gainer, posting a rise of 9.86 percent while Savar Refractories was the worst loser, plunging by 10 percent.
The port city bourse Chittagong Stock Exchange (CSE) also closed flat with its Selective Categories Index – CSCX – gained 17.89 points to close at 8,620.86 points.
Losers beat gainers 116 to 81, with 30 issues remaining unchanged at the port city bourse that traded 16 million shares and mutual fund units, turnover value of BDT 1.00 billion.
BBN/BB/AI