Dhaka stocks mixed as turnover declines

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FE Report
Dhaka stocks closed mixed in the heavily-fluctuating market Thursday with a decrease in turnover.
The benchmark index of the Dhaka Stock Exchange (DSE)-DSE General Index (DGEN)-closed at 2408.67 with a slight fall of 5.60 points, dragged down by mutual funds. All the top losers were mutual funds.
The DSE reportedly made proposals to restructure the mutual fund rules, which sent the market into the red, stockbrokers said.
DSE President Rakibur Rahman, however, refuted the reports on mutual funds carried by different dailies the previous day. He said, "We did not make such proposals."
"Rather, we always encourage mutual funds to enter market as it helps bring stability in the market," he added.
Some of the reported proposals made in the DSE board meeting the previous day include cancellation of quota reserved in IPO for mutual funds introduction of circuit breaker from the debut trading day of each mutual fund, meeting sources said.
The All Shares Price Index lost 4.00 points to end at 2001.87. The DSE-20 blue chip index, however, gained 18.58 points to finish at 1869.75.
Out of 246 issues traded, 108 gained, 129 declined and nine remained unchanged.
The turnover, however, continued its decline to stand at Tk 3.75 billion from Tk 4.12 billion of Wednesday. The market capitalisation declined to Tk 989.10 billion from the previous day's Tk 990.52 billion.