Stocks end flat ahead of budget

Staff Correspondent

2 June, 2021 12:00 AM printer

Stocks end flat ahead of budget

Stocks ended almost flat on Tuesday after volatile trading as investors mostly followed a cautious stance ahead of the national budget.

DSEX, the benchmark index of the DSE, went up by 2.35 points or 0.04 per cent to settle at 5,993.

Two other indices, however, ended in the red. The DSE 30 Index fell 12.18 points or 0.55 per cent to finish at 2,193. The DSE Shariah Index (DSES) dropped 2.13 points or 0.04 per cent to close at 1,284.

Turnover, a crucial indicator of the market, stood at Tk 19.03 billion, which was 9.62 per cent higher than the previous day’s tally of Tk 17.36 billion.

Losers took a modest lead over the gainers, as out of 366 issues traded, 154 declined, 149 advanced and 63 remained unchanged on the DSE trading floor.

The market capitalisation of the DSE continued to rise, hitting a fresh all-time high at Tk 5,041 billion on Tuesday, surpassing the previous day’s record high of Tk 5,038 billion.

Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth about Tk 1.02 billion changing hands, followed by NRB Commercial Bank (Tk 543 million), Pioneer Insurance (Tk 479 million), Green Delta Insurance (Tk 475 million) and IFAD Autos (Tk 438 million).

Pragati Insurance was the day’s best performer, posting a 20.90 per cent gain, following its record 30 per cent cash dividend news, closely followed by Global Insurance Company, Mercantile Insurance Co, Reliance Insurance, Standard Insurance, Green Delta Insurance and Prime Insurance Company.

MBL First Mutual Fund was the worst loser, losing 9.90 per cent, closely followed by AIBL 1st Islamic Mutual Fund, First Finance, Dhaka Bank, Premier Leasing & Finance, GSP Finance Company (Bangladesh) and Fu-Wang Ceramic Industries.

The Chittagong Stock Exchange also ended marginally higher with the CSE All Share Price Index – CASPI –gaining 16 points to settle at 17,375 and the Selective Categories Index – CSCX advancing 10 points to close at 10,472.

Of the issues traded, 130 advanced, 129 declined and 39 issues remained unchanged on the CSE.

The port city’s bourse traded 28.19 million shares and mutual fund units with a turnover value of Tk 924 million.