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Dhaka Tribune

DSE turnover crosses Tk500 crore

Update : 16 Apr 2015, 06:23 PM

Stocks finished flat amid high volatility yesterday as the prolonged political impasse witnessed no sign of settlement. 

The market opened higher rising more than 50 points in the first session but started to decline as pessimistic investors released their holdings, cutting off more than two-third of the early gains.  

The benchmark index DSEX rose almost 13 points or 0.3% to 4,373, extending its rally for the second session in a row.

The Shariah Index DSES was down 4 points or 0.5% to 1,060. The comprising blue chips DS30 inched 2 points or 0.2% down to 1,668.

Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, settled at 8,192, rising 42 points.

Trading at DSE remained strong in the session with total turnover crossing Tk500 crore- mark for the first time in the year. Turnover was Tk540 crore, which is 14.6% higher over the previous session’s value.

United Power Generation and Distribution Company Limited continued to rise for the fourth straight session, gaining nearly 9% to more than Tk207 a share. Since its debut on April 5 except two sessions when it fell marginally, it continued to rise abnormally without any fundamental reason.

In response to a DSE query, the company said that there is no undisclosed price sensitive information of the company for recent unusual price hike.

The top gaining sector was ceramics that soared 8.5%, driven by RAK Ceramic that rallied 9.8%. Banks, non-banking financial institutions and power closed positive while pharmaceuticals cement telecommunication and food & allied declined.

IDLC Investments said the additional fund flow caused upbeat prices for many scrips. However, sellers still remained strong restraining market to enter into a positive correction mode, it said.

Recent earnings disclosure for the period of January – March 2015 had been promising so far and may have played part in increased turnover, it added. 

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