DSE stock prices continue to rally

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FE Report
Stock prices of the Dhaka Stock Exchange (DSE) continued to rally for the second consecutive day amid a hefty turnover and market capitalisation Wednesday.
Market operators said the stock market is gaining momentum because of investors' confidence and hopes of floatation of shares by big companies under telecommunications, state-owned enterprises including oil and gas sectors.
Recently, the prices of the issues under power and insurance sectors have been increasing due to information of power tariff hike and transferring of the insurance sector under finance ministry from existing commerce ministry.
On Wednesday's trading session the total turnover increased to Tk 1.956 billion from Tk 1.855 billion on the previous day. On the day the total market capitalisation rose to Tk 490.651 billion from Tk 486.968 billion on the previous day.
DSE-20 Index (DS20), DSE General Index (DGEN) and All Shares Price Index (DSI) gained by 10.333 points, 9.301 points and 7.758 points to close at 1882.742, 2220.301 and 1821.484 respectively.
Out of 214 traded issues prices of 116 gained 73 declined and 25 remained unchanged Wednesday.
BRAC Bank was the turnover leader with a volume of Tk 136.286 million followed by Power Grid with Tk 123.029 million, Summit Power with Tk 110.560 million, Square Pharma with Tk 93.138 million, Grameen One with Tk 68.712 million, Desco with Tk 64.338 million, AIMS with Tk 56.536 million, Standard Bank with Tk 49.957 million, Heidelberg Cement with Tk 49.865 million and Shahjalal Bank with Tk 48.874 million.
Prices of BRAC Bank increased by 1.31 per cent to close at Tk 770.50 per share, Summit Power by 1.46 per cent to Tk 1035.75, Square Pharma by 0.25 per cent to Tk 3719.75, Grameen One by 1.74 per cent to Tk 52.40, AIMS by 3.52 per cent to Tk 5.28, Standard Bank by 6.27 per cent to Tk 393.50, Heidelberg Cement by 3.53 per cent to Tk 1295.25 and Shahjalal Bank by 0.10 per cent to Tk 248.75.
Prices of Power Grid declined by 0.45 per cent to Tk 604.00 and Desco by 1.15 per cent to Tk 986.00
Prices of Islami Bank increased by 4.05 per cent to close at Tk 4685.75 per share due to announcement of floatation of Mudaraba Bond worth Tk 3.0 billion soon on the stock market.
Prices of the Standard Bank increased due to declaration of right shares issues at the rate of two for one share.