DSE witnesses brisk trading after a lull

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FE Report
Dhaka stocks witnessed a turnaround Sunday, led by insurance, IT, bank, and power and energy issues on continued buying binge from the retail investors.
Trading at the Dhaka Stock Exchange (DSE) opened with a high note as the benchmark index started to climb from the beginning and the rising trend continued until end of the trade. However, market pundits were not sure whether the turnaround would continue or not.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE20 Index (DS20) comprising blue chips gained 72.92 points, 61.71 points and 74.07 points to close at 2590.95, 2145.70 and 2156.44 respectively.
Some market analysts have a feeling that investors are getting back confidence because of the waning of the negative factors. Investors are now sensing good return in future, they said.
The movement share prices in the last three days showed that the market was showing a sign of recovery from the bearish spell over the last couple of months, they said.
The day's total turnover rose to Tk 2.48 billion against the previous day's Tk 1.82 billion. The market capitalisation increased to Tk 987.12 billion from Tk 964.75 billion on Thursday.
"The retail investors took position for booking profit in future as the negative factors for which the market continued to slide over the last couple of months are on the wane," said M Fazlur Rahman, head of Investment Banking of the AB Bank Limited.
The institutional investors are not buying because they are busy for year-end loan adjustment, Rahman said.
A broker said, the general perception is that the market would get back its full rhythm early next year when the institutional investors will be able to inject funds into the market after the year-end book closure.
Share prices of the ACI Formulations rose 3.94 per cent to close at Tk 200.40 per share, making it the day's top turnover leader with shares worth Tk 362.87 million traded on the day.
Beximco Pharma, Titas Gas, Summit Power, Beximco Limited, Uttara Bank, Shinepukur Ceramics Limited, ACI Limited, Grameen Scheme Two Mutual Fund and National Bank Limited (NBL) were the day's rest top turnover leaders.
Stock prices of the Rupali Bank, a Z-category issue, had the biggest gain registering 14.91 per cent rise to end at Tk 657.00 per share. The day's other top gainers were Renwick Jajneswar, United Insurance, Quasem Dry Cell, Kay and Que, Zeal Bangla, Bangas, Golden Son, Sonar Bangla Insurance and Eastland Insurance.
Monospool Paper, Standard Ceramic, Paper Processing, Bengal Fine Ceramic, Apex Spinning, Meghna Condensed Milk, Gachihata Aquaculture, Rahima Food, Aramit Cement and Meghna Pet Industries.