Grameenphone rumour lifts bourse

Grameenphone led yesterday's rally on the premier bourse, as stocks soared 1.5 percent for a second day of strong gains.
The benchmark index of the Dhaka Stock Exchange -- DSE General Index -- jumped 94 points to 6,436.
Grameenphone, the sole constituent in the telecom sector, rose nearly 50 points based in part on a rumour.
Stockbrokers said the mobile carrier's share price has risen in the last few days on rumours that Grameenphone would again trade on the public, or normal, market, instead of the spot market. However, the market regulator is yet to decide where it will trade in future.
"The rumour influenced Grameenphone's share prices today [and yesterday] too. Each Grameenphone share jumped by more than 5 percent on the trading floor," said a stockbroker.
Banks and non-banking financial institutions, and fuel and power also buoyed the market.
Rising stocks outnumbered losers 182 to 63, while six securities remained unchanged.
The prime bourse traded more than 8.09 crore shares and mutual fund units on a turnover of Tk 1,612 crore. Beximco Ltd topped the turnover leaders with more than 41.82 lakh shares worth Tk 130.49 crore.
Purabi General Insurance posted the largest gain, 12.4 percent, while 7th ICB Mutual Fund was the worst loser with a 7.9 percent slide.
Beximco Ltd also topped the turnover leaders in Chittagong, with more than 4.63 lakh shares worth Tk 14.45 crore, as Chittagong stocks also made strong gains.
Gainers beat losers 140 to 48 with five scripts remaining unchanged on the port city bourse. CSE Selective Categories Index gained 265 points, or 2.2 percent, to 12,448.
More than 94.63 lakh shares and mutual fund units changed hands on the Chittagong Stock Exchange on a value of Tk 128.37 crore.
ICB AMCL First Mutual Fund had the top gains in its class with an 18.3 percent rise, while Reckitt Benckiser (BD) had the worst slide, at nearly 5.7 percent.