Stocks end flat

Stocks ended flat yesterday, as institutional investors remained inactive which eroded investors' confidence.DGEN, the benchmark general index of Dhaka Stock Exchange, finished the day at 4,008.83 points, after falling 9.23 points or 0.22 percent.Investors' confidence level was pulled down for the second time by increased political violence, which was also accused of affecting financial sector's quarterly earnings, said IDLC Investments, a leading investment banker.

“Index is struggling to find positive direction amid bearish sentiment,” said LankaBangla Securities said in its daily market report.

“Uncertainty regarding Padma bridge seems to linger the long-awaiting boost for the infrastructure sector of the economy. Merchant banks are unable to contribute to positive movement, as they are already burdened with margin loan,” said the stockbroker.

Turnover lost 1.05 percent to Tk 210 crore than the previous day.

A total of 0.80 lakh trades were executed while 5.76 crore shares and mutual fund units changed hands on the Dhaka bourse.

Of the 265 issues that traded on the DSE, 55 advan-ced and 194 declined and 16 remained unchanged.All the major sectors closed in the red. Non-banks lost 0.76 percent, pharma 0.75 percent, power 0.39 percent and telecom 0.27 percent while only banking sector registered a 1.13 percent gain.Generation Next Fashion featured in the most traded stocks' chart, as its 66.92 lakh shares worth Tk 28 crore changed hands.Prime Bank was the biggest gainer, posting a 5.70 percent gain, while Envoy Textile lost 11.63 percent as the worst loser.

Source : Thedailystar