FE Report

Dhaka stocks bounced back Wednesday riding on three debutants and textile issues as the investors started to overcome the inertia due to tightening of the margin loan facilities by the securities regulator.

The benchmark DSE General Index (DGEN) added 34.79 points or 1.05 per cent to close at 3346.78.

The broader DSE All Shares Price Index (DSI) closed at 2863.25 with a gain of 30.98 points or 1.11 per cent while the DSE-20 blue chip index surged 2.77 points or 0.12 per cent to close at 2242.60.

The market started in a buoyant mood and gained steadily before close of the trade with a lower volume of trade.

After a loss of two straight sessions, the market rebounded Wednesday as investors began to beat the inertia due to the Securities and Exchange Commission (SEC)'s banning of margin loan facilities to cool down the market, said an expert.

However, the three debutants -- Dacca Dying, Islamic Insurance and ICB AMCL Second Mutual Fund-pulled the market up, he added.

Share prices of the Dacca Dyeing, one of the oldest companies, rose 531 per cent to Tk 63.10 from its face value of Tk 10 each share. However, it reached its peak at Tk 67.90.

Islamic Insurance jumped 362 per cent to Tk 462 from its face value of Tk 100 each share.

Another debutant ICB AMCL Second Mutual Fund surged 166 per cent to Tk 266 from its face value of Tk 100.00 each share.