Dhaka stocks gain in fluctuating trading

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FE Report
Dhaka stocks gained in a highly fluctuating market Tuesday making up for the losses incurred in two straight sessions.
The market moved between loss and gain as the benchmark index rose 35 points in the opening hour and then went into the negative territory, but at the end of the day it finished in the positive territory riding on banking issues that declined initially.

The benchmark DSE General Index finally closed at 4,356.01, up by 16.32 points or 0.37 per cent. The broader DSE All Shares Price Index rose 15.84 points or 0.43 per cent to 3,630.69 while the DSE-20 blue chip index gained 5.40 points or 0.21 per cent to close at 2,504.48.
The banking sector, the market's bellwether, rebounded by gaining 0.99 per cent, halting its losing streak of the last four consecutive sessions. The non-banking financial institutions went down on profit taking. Lankabangla Finance, however, gained 3.17 per cent.
Grameenphone, the most weighted issue in the market, continued to decline for the sixth consecutive session and closed at Tk 169.40, down by 0.41 per cent.
Gainers took a modest lead over the losers as out of 232 issues traded, 118 ended higher, 109 lower and five remained unchanged.
The turnover suffered heavily as it came down to Tk 8.80 billion, lower by 12 per cent from that of the previous session as the investors were choosy in buying stocks.
Most of the mutual funds, pharmaceuticals and energy sectors ended lower while the cement sector ended higher. The general insurance sector advanced while life insurers edged lower.