Stocks trade buoyant on telecom

Dhaka stocks gained for a second day, as telecommunication, pharmaceuticals and fuel and power shares pushed the market up.
The benchmark index of Dhaka Stock Exchange, DSE General Index, rose 19.11 points, or 0.43 percent to 4,428.06 yesterday.
The telecom sector, which comprises only Grameenphone (GP) shares, advanced for a third day with a 1.98 percent rise yesterday.
Among the other sectors, pharmaceuticals, cement and fuel and power companies gained marginally.
However, banking and non-banking financial institutions lost yesterday, as most traded in the red.
The broader DSE All Share Price Index increased 15.6 points, or 0.42 percent, to 3,672.15.
Although the market gained almost 50 points in the first 15 minutes, it lost the momentum and went down steadily on profit-taking, before it finished slightly higher.
Losers beat advancers 124 to 105 with six securities remained unchanged. A total of 2,36,77,015 shares and mutual fund units worth Tk 735.58 crore traded on the premier bourse.
Prime Bank topped the turnover leaders with 7,51,850 shares worth Tk 44.99 crore being traded on the DSE.
Chittagong stocks also marked a rise. The CSE Selective Categories Index gained 44.25 points, or 0.53 percent to 8,335.56. The CSE All Share Price Index rose 63.14 points or 0.49 percent to 12,885.91.
A total of 35,46,455 shares and mutual fund units worth Tk 50.86 crore changed hands on the Chittagong Stock Exchange. Of the traded issues on the port city bourse, 61 advanced, 97 declined and four remained unchanged.
Grameenphone topped the turnover leaders with 4,07,000 shares worth Tk 7.26 crore trading on the CSE.