Stock prices on DSE bounce back

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FE Report
Stock prices on the Dhaka Stock Exchange (DSE) Tuesday bounced back after buying-spree was created from a rumour about the re-introduction of netting facility among different categories of shares.
On the day, the DSE-General Index (DGEN) crossed the highest at 70.00 points in recent time due to huge trading on rumour. The DGEN previously reached its highest at 58.00 points July 22 last.
Market operators said a rumour has been spread that the SEC might re-introduce the netting facility again. As a result, the investors started buying the shares in large quantity.
Moreover, the investors felt confident as well as encouraged on hearing the news that 49 per cent shares of the both state-owned Meghna and Jamuna will be offloaded on the stock market soon, market operators said.
On Tuesday, DGEN, DSE-20 Index (DS20) and All Shares Price Index (DSI) gained by 70.817 points, 47.246 points and 48.384 points to close at 2310.584, 2034.837 and 1907.894 respectively.
The total turnover rose to Tk 1.149 billion from Tk 1.058 billion on the previous day. The total market capitalisation also rose to Tk 536.823 billion from Tk 523.663 billion on the previous day.
Out of 202 traded issues, prices of 160 gained, 32 declined and 10 remained unchanged on the day.
Summit Power maintained its position as turnover leader with traded volume worth Tk 122.318 million followed by Square Pharma Tk 117.718 million, Desco Tk 101.073 million, BRAC Bank Tk 77.021 million, UCBL Tk 52.380, Southeast Bank Tk 34.741 million, NBL Tk 30.709 million and Power Grid Tk 28.957 million.