Agency

Stocks ended nearly flat Tuesday with indices edging up amid the prime bourse's interventions to cool down the overheated market.

The DSE management halted Tuesday's trading of Delta Life Insurance, Global Insurance, Agrani Insurance, Asia Pacific Insurance, Eastern Insurance, Mercantile Insurance and BGIC for market inquiry, according to a web post.

Brokerage house officials said trading was relatively low as panic gripped investors in the wake of the bourse authority's interventions.

Market observers blamed DSE's 'unnecessary activities' for distorting the rhythm of the market.

"The DSE management will not yield any benefit from their so-called market inquiry," said investment consultant Bashir Ahmed.

"It is hampering the regular trend of trade."

"Surveillance should be on traders, not on the companies," said Bashir who is with brokerage house Stocks & Bonds.

The DGEN or general index witnessed a rise and fall for the first two and a half hours and remained more or less steady afterwards to end 6.13 points or 0.20 percent higher on 3046.93.

The DSI or all-share price index finished at 2585.24, edging up 5.62 points or 0.21 percent, while the DSE-20 blue chip index crept up 2.69 points or 0.10 percent to 2540.30.

Turnover slipped to Tk 2.40 billion from Monday's Tk 2.42 billion from 16,076, 012 shares changing hands.

Of the traded issues, 116 advanced, 105 declined and 12 remained unchanged.

Beximco Pharma topped the turnover board, closing 7.12 percent higher at Tk 103.80.

Square Pharmaceuticals ended on Tk 5164, down by 0.50 percent.

Beximco gained 9.17 percent to finish at Tk 85.70 while AIMS 1st Mutual Fund closed at Tk 21.79, up by 3.12 percent.

Profit-taking led Shahjalal Islami Bank to fall 3.64 percent to Tk 350.50.

The other scrips on the turnover board—Lanka Bangla Finance, S Alam Cold Rolled Steels, Padma Oil and AB Bank—lost.

BRAC Bank advanced.

All indices on the Chittagong Stock Exchange also closed higher, paced by gains in ICT and insurers.

The CSCX or selective categories index rose 8.19 points or 0.13 percent to finish at 5913.92, while the CASPI or all-share price index closed at 9140.05, gaining 9.55 points or 0.10 percent.

The CSE-30 edged up 2.76 points or 0.34 percent to end on 8040.74.

Turnover on the port city's bourse reached increased to Tk 361.58 million from previous day's Tk 345.92 million from trading of 3,412,946 shares.

Losers beat gainers 82 to 56. Six issues held steady.

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