Stocks close flat amid thin tradeStaff Correspondent
Dhaka stocks ended flat on Sunday amid heavy fluctuation and thin trade as many of the investors opted to take a wait-and-see policy while others remained uncertain because of the day-long general strike enforced by the opposition party.
DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.006 per cent, or 0.33 points, to close the day at 5,367.19 points.
The DGEN lost 135.10 points in the consecutive fall of share prices in the last few days.
The day’s turnover dropped to Tk 653.18 crore from that of Tk 779.08 crore in the day before.
Of the 262 issues traded on Sunday, 124 advanced, 120 declined and 18 remained unchanged.
Market operators said the turnout of investors was less than usual on Sunday and so was the transaction as the general strike held back majority of the investors from trading.
The pre-strike violence on Saturday also intensified the fear of prolonged political instability among the investors, they said.
They said majority of the large investors and the institutional investors refrained from trading on the day.
The general strike was called by Bangladesh Nationalist Party protesting against the disappearance of one of its senior leaders, Elias Ali.
The BNP leaders claimed there was no trace of Elias after the government agency officials took him in custody.
The market opened in positive note on Sunday but lost the early gains in 30 minutes of trading. The index fluctuated heavily throughout the session
and closed a little down from where it started the day.
Among the major sectors, pharmaceutical was Sunday’s top gainer with 1.09 per cent rise, followed by telecommunication that gained 0.42 per cent.
Non-bank financial institutions gained by 0.22 per cent, while banks lost 0.90 per cent and power 0.21 per cent.
Beximco Pharmaceuticals topped the turnover chart on Sunday with its shares worth Tk 40.11 crore changing hands. The other turnover leaders were Meghna Petroleum, Beximco, Jamuna Oil, Grameenphone, LankaBangla Finance, DESCO, MI Cement, Titas Gas and GPH Ispat.
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