Buying spree leads DSE indices to gain marginally

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FE Report
The indices on the Dhaka Stock Exchange (DSE) Thursday gained marginally due to a buying spree from the investors' side. But the total turnover declined further on the day's trading.
Market operators said stock prices on the DSE have declined over the last few days due to price correction measures and profit taking. But, the indices on Thursday gained marginally as they are buying more and more shares now.
On Thursday, the last trading session of the week, All Shares Price Index (DSI), DSE-20 Index (DS20) and DSE General Index (DGEN) gained by 10.007 points, 5.662 points and 2.843 points to close at 1897.879, 2061.650 and 2304.203 respectively.
The total turnover declined to Tk 1.084 billion from Tk 1.216 billion on the previous day. The total market capitalisation rose to Tk 532.520 billion from Tk 530.210 billion on the previous day.
Out of 209 traded issues, prices of 103 gained, 90 declined and 16 remained unchanged on the day.
Square Pharma maintained its position as the turnover leader with traded volume worth Tk 102.932 million followed by BRAC Bank Tk 76.434 million, AB Bank Tk 50.170 million, UCBL Tk 48.413 million, IFIC Bank Tk 42.11 million, Desco Tk 39.786 million, Summit Power Tk 39.219 million, NBL Tk 37.482 million, Pubali Bank Tk 35.941 million and Rupali Bank 28.829 million.
Prices of Square Pharma gained 0.75 per cent to Tk 4974.75, BRAC Bank 0.84 per cent to Tk 928.00, AB Bank 10.82 per cent to Tk 1441.25, IFIC Bank 9.02 per cent to Tk 2288.75, Summit Power 1.61 per cent to Tk 1240.50, NBL 3.35 per cent to Tk 963.75 and Rupali Bank 8.04 per cent to Tk 1454.25.
UCBL declined 4.65 per cent to Tk 3561.50, Desco 1.20 per cent to Tk 925.00 and Pubali Bank 0.65 per cent to Tk 872.00.
IFIC Bank has informed that it has received payment of US$ 11,858,996.00 denomination to Tk. 80,62,35,028.96 from Bugis Investments (Mauritius) Pte. Ltd. Being the sale proceeds of IFIC Bank's "Right Entitlement" for 136,412,340 number of shares in NIB Bank Ltd., Pakistan. The amount received from the said transaction is credited to the income account of the Bank for the current year, bank source said.
The board of director of the Apex Food has recommended cash divided at 18 per cent for the year 2006-07.
Prices of Rupali Bank increased again on the DSE Thursday due to a rumour about handing over of the ownership to the Saudi prince soon.
When asked, the chairman of the Privatisation Commission (PC) Abu Solaiman Chowdhury told the FE that the representative of the prince has not informed anything about the taking over of the ownership in writing until now.