Stocks close flat amid cautious trading

Stocks at the Dhaka Stock Exchange (DSE) closed marginally lower today amid cautious trading, as late-session selling pressure erased early gains despite intermittent buying support.

The benchmark DSEX index shed 10.3 points to settle at 5,403 points, compared to 5,413 points in the previous trading session, according to BSS report.

The market witnessed early gains and a midday recovery, keeping the index in positive territory for most of the session.

However, buying momentum gradually weakened, while increased selling pressure towards the close pushed the benchmark index into negative territory.

Meanwhile, turnover at the DSE declined by 13.4 percent to Tk 560 crore from Tk 650 crore in the previous session.

On the sectoral front, Textile dominated the turnover chart, accounting for 26.6 percent of total transactions, followed by General Insurance at 13.6 percent and Fuel and Power at 11.2 percent.

Sectoral performance remained mixed, with Textile leading the gainers, rising 1.6 percent. Jute and Engineering followed with gains of 1.5 percent and 1.0 percent respectively.

On the other hand, Food posted the highest correction, declining 2.2 percent, followed by Travel at 1.5 percent and General Insurance at 1.2 percent. Of the 395 issues traded, 120 advanced, 198 declined and 77 remained unchanged, indicating a predominantly negative market trend.

Meanwhile, the Chittagong Stock Exchange (CSE) closed in positive territory. Its Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) advanced by 10.0 points and 15.7 points respectively.

The market’s cautious performance came despite an improving global outlook following the US midterm elections and easing global oil prices.