Stocks close flat amid dull trade

Stock closed flat on Wednesday amid dull trade when all the market indicators finished lower. With the Wednesday`s downward close, the market extended the falling trend to the third consecutive session.

Like previous few sessions, majority of the issues traded incurred loss despite increase in advancing securities. The price fall drove the broader DSEX index of Dhaka Stock Exchange (DSE) 6.11 points down at 4587.37. The blue-chip DS30 and the Shariah DSES also fell marginally to 1743.94 and 1104.77 accordingly.

The daily transactions, however, inched up, with the trade value rising to Taka 381 crore from Tuesday`s Taka 380 crore when the volume was up at 9.60 crore shares from 9.37 crore of the previous session.

The market activities were lively around the large-cap stocks that helped recovery in prices of the some securities on this cap group. Newly listed issues apparently lost their attraction as only one company gained on the day. Mutual funds showed little strength, with price of 14 funds advancing despite lackluster trade.

The day`s major gaining issues were Apex Tannery, Dacca Dye, Apex Spinning, Exim 1st MF and Miracle Industries. The major lagging securities included Asian Tiger, All Tex, Agrani Insurance, Far East Knitting and United Insurance.

Aftab Automobile topped the turnover list followed by Beximco Pharma, Squire Pharma, Quasem Drycell and Delta Life.

Like DSE, Chittagong Stock Exchange (CSE) also ended Wednesday flat in red. The major CSCX index was 15.71 points down at 8518.76 at close while the selective CSE30 inched up at 12348.50.

The trade value dropped further on the day to Taka 27 crore from Tuesday`s Taka 30 crore when the volume decreased to 91 lakh from previous day`s 94 lakh shares.

Most of the issues traded closed lower on the day, with 117 issues declining, 97 finishing higher and 41 remaining static.