Stocks end higher

The Dhaka Stock Exchange (DSE) closed higher yesterday after witnessing ups and downs over the week.

“The uplift took place as the Investment Corporation of Bangladesh (ICB) went on buying to rescue the market from the bearish trend,” a stockbroker said.

‘Market moved up on rumours that the big investors would entered into the market soon, which prompted investors to buy shares, market insiders said.

Opening with a downtrend, the market witnessed a 50-point fall at 11.10am but closed on an upbeat note at the end of the four-hour trading session.

The benchmark general index of Dhaka Stock Exchange (DGEN) advanced 130 points or 2.36 percent to end at 5,613.

The DSE All Shares Price Index (DSI) also surged 108 points or 2.36 percent to close at 4,672 while The DSE-20 blue chip index gained 1.53 percent or 56 points to finish at 3,682.

Of the 249 issues traded on the day, 228 added values in its shares prices, 17 dropped and the rest four remained unchanged.

All the major sectors gained across the board yesterday. Non-banking financial institutions were the biggest gainer of the day followed by banks with1.19 percent, telecommunication 1.85 percent, pharmaceuticals 2.21 percent and Power with 1.34 percent gain.

The single-day turnover amounted to Tk 4.5 billion yesterday, up from its previous day’s figure by 46.5 percent.

Beximco Limited topped the turnover chart with turnover value of Tk 364.8 million followed by Beximco Textile, Bangladesh Steel Re-rolling Mills, Titas Gas, Aftab Automobiles, United Airways, RN Spinning, RAK Ceramics, People Leasing and Financial Services Ltd and Makson Spinning.

Bangladesh Finance was the highest gainers of the day followed by Asian Insurance, BDCOM Online, Fine foods, Prime Insurance, BD Welding, golden Son, Deshbandhu polymer, In Tech Online Limited and City general Insurance.

The worst losers of the day include-- Beximco, Reneta, Beximco Textile, Beximco Pharma, Karnafuli Insurance, BD Thai, Shine Pukur ceramics, Modern Dyeing, Beximco Synthetics and Pioneer Insurance.