Dhaka stocks gain, turnover rises

FE ReportbrDhaka stocks gained Sunday led by insurance, power and energy issues, with significant increase in the turnover.brThe total turnover led by Titas Gas and Beximco Ltd increased to Tk 3.04 billion against previous day's Tk 2.36 billion with the top ten turnover leaders accounting for more than 51 per cent.brTitas Gas continued to dominate the market. Its share prices rose 2.96 per cent to end at Tk 468.50 per share, making it the top turnover leader with shares worth Tk 379.37 million changing hands and accounting for 12.45 per cent of the total turnover.brStock prices of Beximco, the fourth top gainer, rose 10.71 per cent to close at Tk 135.40 per share. The company was the second top turnover leader with shares worth Tk 217.83 million traded.brBeginning on a buoyant mood from the very outset of the trade, the Dhaka Stock Exchange (DSE) ended with the green boosted by participation of mostly retail investors.brThe market barometers -the benchmark DSE General Index (DGEN) and All Shares Price Index (DSI) - rose 21.06 points and 6.40 points to close at 2824.03 and 2404.15 respectively.brHowever, the DSE -20 comprising blue chips slightly shed 1.61 points to finish at 2407.38.brThe green took lead over red as out of 219 issues traded, 106 advanced, 103 declined and 10 remained unchanged.brTransaction in the prime bourse on the day was more dominated by the retail investors than the institutional investors, who are considered the major market players, sources said in the DSE. brThough the market moved to the green but it remained shallow as the investors focussed attentions to some of the big issues based on rumours but not on fundamentals, said an analyst. brThis trend bodes ill for the market as the late-comers might be affected, he added. brThe total market capitalization also rose to Tk 993.39 billion from Tk 988.46 billion of the previous day.brACI Limited, ICB Second NRB, GrameenS2 mutual fund, S Alam Cold Rolled Steel, Beximco Pharma, Lankabangla Finance Limited, Pragati Insurance and AB Bank were the other turnover leaders on the day.brShare prices of Progressive Life Insurance had the biggest gain of 12.16 per cent, followed by Pragati Insurance of 11.92 per cent, ICB Second NRB 11.48 per cent, Beximco Limited 10.71 per cent, Eastland Insurance 9.28 per cent and ICB 9.17 per cent.brICB Islamic Bank, Rupali Bank, Monno Jutex, Sonargoan Textile, Shyampur Sugar and Samorita Hospital were the top losers on the day.br