Dhaka stocks rallied for the second session in a row Wednesday led by insurance, leasing and IT issues with decline in the turnover.
Meanwhile, shares trading of all mutual funds, that remained suspended for two days following media reports on the High Court's three-month stay order on the amendment of mutual fund rules, resumes today (Thursday).
The Dhaka Stock Exchange (DSE) started with the buoyant tone, pushing the DGEN up more than 45 points just after mid session mainly due to buying of Titas Gas shares. Later, it began to shed some points when the prices of Titas dropped.
All the market barometers - the benchmark DSE General Index (DGEN), All Shares Price Index and DSE-20 -- gained 20.36 points, 18.48 points and 16.41 points to close at 2734.70, 2351.38 and 2499.27 respectively.
The market recovered 74.58 points in the last two days from around 548 points lost in the last two moths.
The market picked up steam on the day as the investors felt somewhat comfortable after the confusion over designated share selling of Titas within a stipulated timeframe was clarified by the ministry and this also helped bring positive sentiment back to the market, according to the market operators.
Despite trading suspension of mutual funds, a total of 5000 shares of AIMS First Mutual Fund were traded on the day.
The total turnover, dominated by gainers, came down to Tk 2.51 billion against the previous day's Tk 3.56 billion. The gainers outshined the losers as out of 221 issues traded, 136 advanced, 71 declined and 14 remained changed.
The total market capitalisation, however, rose to Tk 953.84 billion against Tk 947.93 billion.
A total of 1210850 shares of Titas Gas worth Tk 410.40 million were sold at the prime bourse. Share prices of Titas, the top turnover leader accounted for 16.3 per cent of the total turnover, posted a fall of 3.75 per cent to end at Tk 326.50 per share. But its price rose as high as Tk 370.00 a share.
A total of over 6.5 million shares of the gas distribution company was sold both at the DSE and Chittagong Stock Exchange (CSE).
Lanka Bangla Finance was the second top turnover with shares worth Tk 195.73 million traded, followed by Beximco Tk 142.09 million, Square Pharma Tk 93.37 million, Keya Cosmetics Tk 77.23 million, UCBL Tk 76.91 million, BATBC Tk 66.69 million , ACI Tk 63.37 million and National Tubes Tk 58.58 million changing hands.
Stock prices of the Modern Industries had the largest gain of 9.60 per cent, ICB 9.42 per cent, Eastland 9.28 per cent, Agni Systems Limited 8.48 per cent, United Insurance 8.21 per cent, Bangla Process 8.14 per cent, Pragati Insurance 7.64 per cent, Maq Paper 7.46 per cent, Popular Life Insurance 6.94 per cent and Reliance Insurance 6.81 per cent.
Chittagong Vegetables, Samorita Hospital , Metalex Ceramic, Sajib Knitting,, Meghna Condensed Milk, UCBL and Renwick Jajneswar were the top losers on the day.
