DSE shares rally on AB Bank's disclosure

DSE stocks' rally since AB Bank's disclosure on its plan for authorised capital enhancement on Wednesday continued yesterday.
The AB Bank informed the Dhaka Stock Exchange (DSE) that it, with permission from the central bank and other regulatory authorities, will increase its authorise capital to Tk400 crore from existing Tk200 crore.
Market insiders said the announcement has encouraged the investors to put their money in the bank's shares.
A total of 1,19,910 shares, worth Tk41.13 crore, of AB Bank were traded on the prime bourse.
The DSE General Index rose by 33.88 points or 1.14 percent, ending yesterday at 2991.37 points, while the DSE All Share Price Index increased by 26.43 points or 1.05 percent, finishing at 2528 points.
The rally also pushed the turnover up yesterday that crossed the Tk300 crore level for second consecutive day. The total turnover at the bourse stood at Tk325.06 crore.
Of the issues traded, 171 advanced and 65 declined with eight remaining unchanged. A total of 2,30,53,496 shares changed hands.