The New Nation - Internet Edition

Staff Reporter

The Dhaka Stock Exchange yesterday ended high following buying spree for mutual funds of Investment Corporation of Bangladesh after its declaration of Net Asset Value (NAV).

Brokerage houses sources said investors traded in market majors throughout the day rather than going for a specific sector. They said price of shares of oil companies, banks and cement in the yesterday's market went up while pharmaceuticals ended mixed.

Mutual funds issued by ICB enjoyed heavy buying following NAV declarations, sources said. Market experts said the day's trading was flat; prices of ICB mutual funds drove the indices slightly up.

"The trading pattern of mixed buying and selling led to an almost flat close. Heavy buying into ICB mutual funds pushed up the indices a bit," DSE vice president Ahmad Rashid Lali said.

The benchmark general index rose sharply on the opening bell and remained stable until midday trade. It however maintained a downward curve to finish 7.76 points, or 0.25 percent higher at 3087.10.

The DSI or all-share price index ended on 2606.92, rising 7.32 points, or 0.28 per cent from the previous day.

The bourse's blue-chip DSE-20 edged up 6.37 points, or 0.26 per cent, to close at 2401.25.

Turnover slipped to Tk 2.99 billion from Wednesday's Tk 3.02 billion, with 16,955,897 shares changing hands.

Of the traded issues, 85 advanced, 151 declined and eleven remained unchanged.

AB Bank topped the turnover board, rising 2.05 per cent to Tk 3759.50.

UCBL ended on Tk 4986, up 1.77 per cent after Thursday's losses while Delta BRAC Housing fell 0.84 per cent on profit taking to close on Tk 1550.

Pharmaceuticals major Square Pharma continued to gain. It finished at Tk 4610.50, up 0.97 per cent while ACI continued its losses from Thursday, declining 1.4 per cent to Tk 302.70.

IFIC Bank and S Alam Cold Rolled Steels rose on buying pressure.