Stocks close flat amid volatile trading

 
Stocks on Tuesday closed broadly flat after a volatile trading session, as persistent concerns over the market's near-term outlook amid the nationwide gas and electricity crisis continued to weigh on investor sentiment and limit prospects for recovery.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), edged down 3.5 points to settle at 5,640, compared with 5,644 points in the previous session.

The capital market witnessed see-saw trading from the outset, with bargain hunters maintaining the upper hand through mid-session, according to BSS report. 

However, intensified broad-based selling in the final hour wiped out the earlier gains, leaving the benchmark index marginally lower at the close.

Market turnover also fell to a five-month low, declining 15.8 percent to Tk 5.1 billion from Tk 6.9 billion in the previous session.

On the sectoral front, Textile stocks accounted for the highest share of turnover at 25.3 percent, followed by Bank at 13.7 percent and General Insurance at 10.1 percent.

Of the 395 issues traded, 171 advanced, 150 declined and 74 remained unchanged.

The port city bourse, Chittagong Stock Exchange (CSE), also ended in negative territory. Its selected index, CSCX, declined 49.9 points, while the All Share Price Index (CASPI) fell 93.9 points.