Stocks posted marginal gain Monday after losing in the last six consecutive sessions as a section of investors took position on lucrative stocks amid ongoing political unrest in the country.
The market opened with upward note, but it slowed down as the session progressed amid modest see-saw. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 1.27 points or 0.02 per cent to close at 4,626.22 points, after losing 138 points in the last six sessions in a row.
The two other indices also closed in green. The DS30 index, comprising blue chips gained 2.36 points or 0.13 per cent to close at 1,714.66 points. The DSE Shariah Index (DSES) advanced 2.59 points or 0.23 per cent to close at 1,105.75 points.
Turnover improved slightly, but remained below Tk 3.0 billion-mark. The total turnover stood at Tk 2.79 billion, registering an increase of 12.3 per cent over the previous session's value of Tk 2.49 billion.
The investors' attention was mostly focused on engineering, textile and power - the sectors that accounted for 18 per cent, 15 per cent and 14 per cent of the day's total turnover respectively.
"The market closed in flat in all three indices of the country's major bourse amidst increased participation from the investors," said International Leasing Securities in an analysis.
Several investors started to take position on fundamental stocks which caused the market turnover surged by 12.3 per cent, said the International Leasing.
However, early buy pressure failed to sustain as indecisiveness sustained due to the fragile political outlook, the International Leasing added.
IDLC Investments said: "Early hour enthusiasm got evaporated for lack of support, as majority of investors fear continued downtrend in coming days".
With unrest wounding the economy major equity market repelled investors to take residual interest to the economy, said the merchant bank.
"Market closed on flat green zone after witnessing six losing streaks in a row. Stocks moved indolently at this level and trying to consolidate above the support level of 4,600 points," said LankaBangla Securities.
The major sectors posted mixed performance in the session. Food and allied registered the highest gain of the session of 2.20 per cent. Cement advanced by 1.75 per cent and pharmaceuticals 0.19 per cent gained marginally.
Banks retraced by 1.0 per cent and NBFIs closed flat in red losing 0.07 per cent. Telecommunication went down by 0.61 per cent. Power closed 0.31 per cent lower.
The losers took a modest lead over the gainers as out of 302 issues traded, 137 declined and 132 advanced while 33 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume was up by 23.13 per cent, but trade was down by 4.39 per cent. A total number of 0.087 million trades were executed with trading volume of 70.20 million securities.
The market capitalisation on DSE stood at Tk 3,156.59 billion against Tk 3,154.08 billion in the previous session.
Shahjibazar Power Company continued to top the turnover list with shares worth Tk 166.92 million changing hands followed by Shasha Denims, SIBL, GP and IFAD Autos.
Anwar Galvanizing was the day's top gainer, positing a rise of 7.96 per cent while Mutual Trust Bank was the worst loser, plunging by 19.37 per cent following its price adjustment after record date.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in green with its Selective Categories Index - CSCX - gained 1.31 points to close at 8,618.72 points.
Gainers beat losers 109 to 91, with 25 issues remaining unchanged at the port city bourse that traded 7.11 million shares and mutual fund units, turnover value of Tk 261.25 million.
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