Stock prices on DSE continue bullish trend

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FE Report
Stock prices on the Dhaka Stock Exchange (DSE) continued on a bullish trend for the fourth consecutive day Sunday, the first trading session of the week, following buying spree.
DSE-General Index (DGEN), DSE-20 Index (DS20) and All Shares Price Index (DSI) gained by 58.700 points, 55.891 points and 31.932 points to close at 2398.072, 2144.492 and 1945.746 respectively.
Market operators said the strong buying support from retail, institutional and portfolio investors helped sustain the bullish trend on the DSE.
The issues under banking, mutual funds and pharmaceuticals have been maintaining an upward trend over the last few days due to good financial condition of those sectors, market operators claimed.
A senior official of the DSE said the recent bullish trend of the market also attracted huge fresh retail investors along with institutional investors.
The retail investors prefer to invest on the stock market than depositing in the banks due to lower interest rate, he said.
The total turnover was Tk 2.751 billion from Tk 2.336 billion on the previous day. The total market capitalisation was Tk 527.589 billion from Tk 520.246 billion on the previous day.
Out of 201 traded issues prices of 116 gained, 64 declined and 21 remained unchanged.
BRAC Bank was the turnover leader with a trading volume of Tk 213.867 million followed by Power Grid with Tk 186.032 million, Southeast Bank with Tk 162.865 million, Square Pharma with Tk 143.247 million, Desco with Tk 133.679 million, Summit Power with Tk 123.507 million, Exim Bank with Tk 109.698 million, AB Bank with Tk 84.338 million and NBL with Tk 78.499 million on the day.
Prices of BRAC Bank gained by 7.63 per cent to close at Tk 966.00 per share, Power Grid by 3.15 per cent to Tk 605.75, Southeast Bank by 2.57 per cent to Tk 578.50, Square Pharma by 5.37 per cent to Tk 4801.75, Desco by 8.89 per cent to Tk 1083.50, Summit Power by 11,03 per cent to Tk 1220.50, Exim Bank by 3.99 per cent to Tk 436.25, AB Bank by 4.54 per cent to Tk 2158.00 and NBL by 5.66 per cent to Tk 947.25.
Prices of Rupali Bank fell by 13.87 per cent to Tk 1184.50 per share. Prices of Rupali Bank declined significantly mainly due to a news of uncertainty in handing over of the bank to the Saudi buyer.