Stocks bounce back on DSE

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FE Report
The stock prices on the Dhaka Stock Exchange (DSE) Wednesday bounced back after three days of fall due to fresh buying-spree by investors.
Market operators said it is a normal movement of the market that the share prices will eventually gain after some days of fall in a row.
On the day, the prices of almost all shares under banking, insurance, mutual funds and power sectors gained due to reverting trend of the market, market operators said.
Following the upward trend, all market barometres including indices, the total turnover and the total market capitalisation rose on the day from its previous day.
Earlier, the cautious trading brought down the share prices of most of the banking, insurance and pharmaceutical sectors.
All Shares Price Index (DSI), DSE-General Index (DGEN) and DSE-20 Index (DS20) gained 7.110 points, 4.980 points and 3.618 points to close at 2080.171, 2514.616 and 1998.562 respectively.
The total turnover rose to Tk 1.272 billion from its previous Tk 1.053 billion Tuesday last. The total market capitalisation also increased to Tk 591.007 billion from Tk 589.344 billion on the previous day Tuesday.
Out of 204 traded issues prices of 101 gained, 81 declined and 22 remained unchanged.
Summit Power was the turnover leader with traded shares worth Tk 140.182 million followed by BRAC Bank Tk 89.157 million, Grameen One Mutual Fund Tk 74.414 million, AIMS Mutual Fund Tk 65.584 million, Desco Tk 44.752 million, UCBL Tk 41.483 million, AB Bank Tk 37.867 million, ILFSL Tk 32.053 million, Southeast Bank Tk 30.449 million and Power Grid Tk 30.238 million.
Prices of Summit Power gained 5.69 per cent to Tk 1460.75, Grameen One 5.74 per cent to Tk 57.10, AIMS 6.88 per cent to Tk 6.52, Desco 1.24 per cent to Tk 1157.00, UCBL 1.23 per cent to Tk 4454.00, ILFSL 7.08 per cent to Tk 922.50, Southeast Bank 0.24 per cent to Tk 504.50, BDFINANCE 15.01 per cent to Tk 224.00 and Progressive Life Insurance 8.66 per cent to Tk 592.50.
BRAC Bank declined 0.54 per cent to Tk 1234.25, AB Bank 0.11 per cent to Tk 2228.25 and Power Grid 0.44 per cent to Tk 620.00.
The SEC has issued show cause cum hearing notice to the Bank, its Directors, Managing Director and Company Secretary of the Rupali Bank for non-compliance with securities related laws in connection with the audited financial statements for the year ended on December 31, 2006.