Star Business Report
Stocks closed flat yesterday as investors took a cautious stance on speculation over possible measures by the regulator, insiders said.
The Securities and Exchange Commission (SEC) at a meeting with the market stakeholders, however, did not go for any measure to cool down the market that rallied in the previous two sessions.
The previous gains were buoyed by better-than-expected half yearly earnings by banks and a cut in the interest rates of savings certificates by the government.
The watchdog, however, asked brokers and merchant banks to follow the rules including that of ratio for margin loans, said the officials who were present at the SEC meeting yesterday.
The market extended the previous days' gains in the morning session yesterday, but tumbled in the midday trade amid a selling pressure.
The banks ended slightly lower, but non-bank financial institutions gained along with major advancers telecommunication, insurance and ceramics.
Cellphone giant Grameenphone, the only telecom issue, rose, while National Life and Delta Life led the gains in the insurance sector.
However pharmaceuticals, energy and power dipped. Square Pharma, Beximco Pharma and Renata Pharmaceuticals contributed to the dip in the sector.
The benchmark index of Dhaka Stock Exchange -- DSE General Index (DGEN) -- closed 0.01 point or 0.00025 percent high, to 6,354.69. The DSE All Shares Price Index or DSI added 0.98 point or 0.0185 percent to 5,279.83. The DSE-20 Index went down.
However turnover rose to Tk 2,246.79 crore from Tk 2,108.21 crore a day before.
Gainers beat losers 140 to 97 with six issues closing unchanged.
Titas Gas, AB Bank, National Bank, Pubali Bank and BRAC Bank were the top performers of the day.
Titas added 0.28 percent to Tk 1,074.25. AB Bank, the second most traded issue, dipped 1.06 percent to Tk 1,440.25. National Bank advanced 0.58 percent to Tk 814.50 but Pubali Bank and Brac Bank soared more than 4 percent amid a buying pressure.
Pubali edged up to Tk 834.75, while Brac Bank rose to Tk 759.50.
Indices of the Chittagong Stock Exchange finished marginally up.
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