Stocks bounce back after choppy trade

Stocks returned from losses yesterday, buoyed by a rise in shares of non-bank financial institutions, fuel and power and banking sectors.
But turnover plunged to a new low amid a lack of participation of both retail and institutional investors in trade.
Lack of confidence and uncertainty about the regulatory environment quickened the fall, market analysts said.
Turnover on the main bourse, Dhaka Stock Exchange, stood at Tk 506.41 crore from Tk 593 crore a day ago, much below daily average turnover in the last three months.
Daily average turnover, which hit the highest of Tk 1,315 crore in February, slumped to Tk 795 crore in March, according to DSE data.
Intra-day volatility defined yesterday's session. Opening downbeat, the market bounced in the following hour only to dive again before starting a slow recovery.
The benchmark DGEN or General Index added 13.23 points or 0.24 percent to 5515.97. The DSI or All Shares Price Index gained 9.84 points or 0.21 percent to 4515.63. The DSE-20 or blue-chip index added 7.93 points or 0.27 percent to 2866.25.
Of the issues traded, 141 advanced, 100 lost and five ended unchanged.
Bank stocks, a lifeline to the market, ended marginally up after losing in the previous three sessions. NCC Bank, the third biggest issue on the turnover board, guided the recovery. NCC edged up 2.90 percent to Tk 531.50.
Investment Corporation of Bangladesh (ICB), a non-bank financial sector major, accelerated the gain in the NBFI sector amid buying pressure.
ICB climbed 6.38 percent to Tk 3691. A rise in Prime Finance shares extended gains in the sector.
The fuel and power sector advanced, supported by gains in DESCO, Jamuna Oil and Eastern Lubricants on expectations of gains.
Mutual funds snapped a losing streak on anticipation that the regulator would consider asset management appeals to relax margin rules.
Telecom, pharmaceuticals and general insurance ended down.
Grameenphone, which accounts for a fourth of market capitalisation, lost for a second day. GP shed 0.88 percent to Tk 359.20 amid profit-taking.
Pharma stocks finished marginally lower despite a rise in the shares of sector heavyweight Square Pharma.
Square Pharma gained 0.13 percent to Tk 3,495.25 after it said its board had approved an agreement with RAK Pharmaceuticals for toll manufacturing for its three products to meet increasing demand.
Beximco Pharma, a second top issue on the turnover board, slipped 0.43 percent to Tk 181.20.
All indices on Chittagong Stock Exchange ended higher with gainers beating losers 96 to 50. Four issues finished stable.