DSEX ends flat on Thursday
Some shares that took off from the floor prices in the last one or two days, again nosedived to the floor price levels
Major indices of the Dhaka Stock Exchange (DSE), for the third consecutive session on Thursday, closed almost flat as the market's efforts to go higher kept failing amid selling pressure before the closing bell.
DSEX, the broad-based index of the premier bourse, closed 0.02% lower at 6,334 while the blue chip index DS30 and Shariah index DSES slightly underperformed the broader index.
The market, however, was volatile enough to confuse short term investors who act upon the market direction.
"Profit-booking sell pressure continued to prevail across the trading floor owing to concerns regarding the weakened market strength while investor participation remained concentrated on rumour-based junk stocks," said EBL Securities in its daily market commentary.
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Analysts said, the recent increase in interest rates and dollar price after the new monetary policy was hurting investors' confidence, while the junk stock traders also became confused after some regulatory uncertainties.
However, turnover in the DSE increased by 1% to Tk899 crore.
A number of shares that started to get rid of the floor prices in the previous one or two days, again nosedived to the floor price levels on Thursday.
During the closing bell, 85 scrips advanced, 117 declined in the DSE.
Travel and leisure, ceramic, and textile sectors faced correction, while cement, life insurance and general insurance advanced on Thursday.
