Bourses open week on a flat note

Indices at the premiere bourse posted marginal gains on Sunday but the turnover decreased as participation of the investors remained dull due to pandemic woes.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced 2 points, or 0.06 percent, to close the day at 3,963.

The Shariah-based DSES index also inched up 0.3 points, or 0.04 percent, to settle at 918.9, while the blue-chip index DS30 went up 1 point, or 0.1 percent, to stand at 1,327.

Meanwhile, Caspi - the benchmark index of the Chittagong Stock Exchange - dropped 4 points, or 0.03 percent, to close at 11,250.

The DSEX remained downbeat during the first hour of trade and then gradually picked up growth in its intraday performance graph. However, it witnessed a decline at 12pm but then again moved upwards during the last half hour of the trading session.

Throughout the session, most of the investors adopted a cautious stance as the worsening of the pandemic situation is affecting the whole economy of the country, stated the Daily Market Review of EBL Securities Ltd.

Most of the shares remained stuck at the trading floor due to mixed reactions from investors regarding earnings and dividend declarations along with the floor price mechanism, added the review.

The life insurance sector exhibited the highest price appreciation of 1.3 percent in the sector return board whereas the mutual funds posted the highest price correction of 0.1 percent.

Among the other large-cap sectors, pharmaceuticals and banks gained 0.1 percent each, while telecom, textiles, and cement remained flat.

Turnover at the DSE decreased by 45 percent to Tk38.6 crore on Sunday from Tk69.7 crore in the previous session. On the other hand, turnover at the port city bourse increased by 557 percent from Tk1.4 crore to Tk9.2 crore.

The pharmaceuticals sector once again contributed the most, at 36.4 percent, to the total turnover value. It was followed by banking stocks at 22.9 percent and fuel and power stocks at 13.2 percent on the sector-wise turnover distribution board.

Linde Bangladesh Ltd topped the turnover chart with a turnover value of Tk2.9 crore, closing the day at Tk1,305.1 per share. The stock was followed by Central Pharmaceuticals Ltd with a turnover value of Tk2.8 crore, closing the day at Tk12.9 per share.

Eastern Lubricants Ltd was the best performer on the gainers' table, gaining 5.8 percent and closing at Tk943 per share.

ICB Employees Provident Mutual Fund 1 Scheme 1 was the worst loser, shedding 4.6 percent and closing at Tk6.2 per share.

Of the 245 issues traded on Sunday, 17 advanced, 14 declined and 214 remained unchanged on the DSE trading floor.