Dhaka stocks ride on mutual funds

---

FE Report
Dhaka stocks rallied Sunday, led by mutual funds with the turnover crossing the Tk 4 billion-mark after around two months.
However, most of the issues' prices dropped as out of 222 issues traded, 86 advanced, 120 declined and 16 remained unchanged.
The Dhaka Stock Exchange (DSE) opened with a positive note, pushing the main index up by nearly 33 points in the first one hour and a half. Later, it shed some points towards the close of the trade.
All the market barometers -- the benchmark DSE General Index (DGEN) and the All Shares Price Index (DSI) -- gained 18.68 points and 15.15 points to close at 2857.22 and 2411.96 respectively.
But the DSE-20 index comprising blue chips slightly fell 4.07 points to end at 2379.60 on profit taking.
The day's buying spree came mostly from small investors on a rumour, which sent the market into the green, market operators said.
The investors are going to get their fingers burned again as they run after overvalued stocks, an analyst said.
The total market turnover rose to Tk 4.33 billion against the previous day's Tk 3.11 billion.
The market capitalisation marginally rose to Tk 995.92 billion from Tk 991.00 billion.
Titas Gas continued to dominate the market as it emerged the top turnover leader with shares worth Tk 357.83 million traded. However, its share price fell 2.70 per cent to close at Tk 495.50.
The next other top turnover leaders were GrameenS2 Mutual Fund, ICB 2nd NRB, Beximco Limited, ACI Limited, AIMS First Mutual Fund, Beximco Pharma, Square Textile, Grameen One Mutual Fund, and Summit Power Alliance.
Share price of the AIMS First Mutual Fund had the biggest gain of 16.05 per cent, followed by GrameenS2 with 13.62 per cent, BD Online 12.82 per cent, 1st BSRS 12.48 per cent, Beximco Fishery 11.39 per cent, DBH 10.44 per cent and Progressive Life Insurance 10.14 per cent.
Meghna Shrimp, United Insurance, Fine Foods, Hakkanipul, Saiham Textile and Mithun Knitting and Excelsior Shoes were the top losers on the day.