Dhaka stocks edge slightly higher

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FE Report
Dhaka stocks edged slightly higher in the heavily fluctuating market Wednesday with the turnover continuing to suffer.
The market swung between negative and positive several times as it lost steadily in the opening hour of trading and turned around in the next one hour to gain sharply.
It, later, went in the red once again in the third hour of trading session and in the final hour, modest buying on banking, leasing, mutual funds and energy stocks helped the market to finish in green zone.
The benchmark DSE General Index (DGEN) ended at 5515.97 with a meager gain of 13.23 points or 0.24 per cent, recovering from a one-week low in the previous session.
It hit highest at 5527.16 and lowest at 5459.58 during the bumpy trading sessions.
The broader All Shares Price Index (DSI) gained 9.84 points or 0.21 per cent to 4515.63 while DSE-20 comprising blue chips finished 7.93 points or 0.27 per cent to 2866.25.
The market gained ground anticipating that the government's consideration on imposing tax on profits generated from share trading might be dropped, according to the stockbrokers.
This positive sentiment prevailed in the market on the news of a meeting between DSE and NBR (National Board of Revenue) on the day.
Gainers took a fair lead over the decliners as out of 246 issues traded, 141 closed positive, 100 negative and five remained unchanged.
Turnover saw the steepest fall of Tk 5.07 billion, down 15 per cent over the previous session's Tk 6.0 billion-mark. The decline was the lowest since September 27 last year.
The banking sector, the bellwether of the DSE accounting for one-fourth of its market capitalisation, broke its four consecutive session losing streak as it finished flat on the day.
Among the banks, NCC Bank climbed highest 2.90 per cent, followed by Social Islami Bank 2.03 per cent.