Dhaka stocks close slightly higher

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FE Report
Dhaka stocks closed slightly higher Tuesday, led by insurance, energy, mutual funds and pharmaceuticals issues, ending a four-session bear-run.
The benchmark DSE General Index (DGEN) closed at 2950.12 with a gain of 8.83 points or 0.30 per cent.
The broader All Shares Price Index (DSI) gained 9.05 points or 0.35 per cent to end at 2480.25. The DSE-20 Index comprising blue chip rose 6.49 points or 0.30 per cent to finish at 2105.30.
Almost all insurance companies reversed from previous day's losing trend as it performed better on the news that the upcoming insurance
bills might be passed in the next parliament session scheduled for September 7.
The market, however, did plunge into the negative territory for a brief period after one hour of the trade. From mid-session it started to recover.
The turnover of banking shares was comparatively lower. Most of the non-banking financial institutions (NBFIs) also edged down.
Share prices of the majority issues went into the positive territory as out of 232 issues traded, 145 gained, 84 declined and three remained unchanged.
The turnover increased by 19 per cent to Tk 5.0 billion on the back of huge share trading of the Navana CNG that made debut Sunday last.
Share trading of Navana CNG resumed on the day after remaining suspended previous day as per direct listing regulations.
A total of 5765200 shares worth Tk 1.24 billion were traded, making it top turnover leader that accounted for nearly 25 per cent of the total turnover. Its shares prices also posted highest gain of 13.76 per cent to close at Tk 220.60 a share.
The country's leading private off dock service provider Summit Alliance Port Limited came out second with shares worth Tk 281.03 million trading, followed by Bextex, textile arm of the leading industrial conglomerate Beximco Group, Tk 239.37 million.
Kohinoor Chemicals, Continental Insurance, Asia Pacific Insurance, Republic Insurance were the major gainers.
Stock prices of the Delta Brac Housing Finance Corporation Ltd (DBH), the pioneer in home loan sector, had the biggest loser with a fall of 12.55 per cent as its dividend declaration failed to satisfy the investors.
Its board of directors has recommended 17 per cent cash dividend and 15 per cent stock dividend for the year 2008-2009.