Stocks rise further

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FE Report
Dhaka stocks rallied for the second consecutive session Wednesday, led by financials, energy and pharmaceuticals.
The market opened with a flying start as the benchmark index gained more than 50 points and crossing the 4400 mark in the first half an hour after three sessions.
However, the market lost momentum slightly in the next ten minutes but finished with higher note.
The benchmark DSE General Index ended at 4415.27 with a gain of 59.26 points or 1.36 per cent. The broader DSE All Shares Price Index gained 45.75 points or 1.26 per cent to 3676.44 while the DSE-20 blue chip index increased 9.81 points or 0.39 per cent to 2514.30.
Gainers took a strong lead over the gainers as out of 234 issues traded, 173 advanced, 55 lost and six remained unchanged. The turnover rose to Tk 9.20 billion, an increase of 4.4 per cent over the previous session.
Grameenphone, the most weighted shares, rebounded after falling for six consecutive sessions as it edged 0.77 per cent higher to Tk 170.70.
The banking sector, the bellwether of the market, gained marginally but majority of the banks lost. NCC Bank and City Bank were among the gainers, advancing more than 3.0 per cent each.
The non-banking financial institutions (NBFIs) rose sharply advancing 3.94 per cent. The mutual funds finished mixed with the whole sector rising 0.50 per cent.
The energy sector posted a rise of 2.59 per cent and multinational companies also gained significantly.
The pharmaceutical, cement, tannery, insurers and all subsidiaries of the Beximco Group nudged marginally higher.
State-owned petroleum distribution company Meghna Petroleum was the top turnover leader with shares worth Tk 392.20 million traded.