Stocks close first week of 2016 flat
Stock market closed the first week of the new year 2016 flat after showing a short-lived bullish trend in consecutive two trading sessions.
Dhaka Stock Exchange (DSE) began New Year 2016 with mixed trend as there were some worries prominent among investors. The major concerns were about fresh fund flow to the market and how the central bank would design its half-yearly monetary policy stance scheduled to be announced later this month.
The downward trend continued at the next session, but it took a sharp u-turn on Tuesday, halting the continuous fall that began on the last trading day of the immediate past year 2015. The daily transaction at both Dhaka and Chittagong bourses rose considerably from the third session, taking the price indices to the positive zone.
Market remained bullish on Wednesday on higher participation when the daily transaction in value at the Dhaka Stock Exchange (DSE) rose to five-month high. But, profit-booking sell pressure subdued the demand on Thursday that made most of the traded issues losers. The high number of losing issues drove the price indices down.
The broader DSEX index, which showed considerable strength in two trading sessions, finally closed flat in red at 4676.08 while the blue-chip DS30 and Shariah DSES followed the suit to end at 1771.28 and 1126.89 respectively.
The daily trade value also fell to Taka 643.42 crore from Wednesday`s Taka 655.74 crore. Accordingly, the trade volume declined to 16 crore shares from 17.65 crore shares of the previous session.
Out of the traded 321 securities, 140 incurred loss when 128 gained and 53 remained unchanged.
The major gainers were Exim 1st MF, Miracle Industries, NFML, Fu Wang Ceramic and CMC Kalam. The major losers were Pragati Insurance, ISN Limited, Quasem Drycell, Shympur Sugar and KDS Accessories.
UPGDCL topped the turnover list followed by Beximco, Beximco Pharma, Aftab Auto and KPCL. Chittagong Stock Exchange (CSE) also ended the week in red, with its major CSCX index closing marginally down at 8685.31.
Out of the 239 issues traded, 100 gained when 99 suffered moderate losses and 40 remained static.
The trade value at CSE fell to Taka 39 crore from Wednesday`s Taka 40.45 crore when the trade volume declined to 1.22 crore shares from 1.32 crore shares of the previous session.
