GP pulls up DSE

Dhaka stocks bounced back moving up one per cent Sunday, lifted by Grameenphone that rallied about six per cent on its healthy half-yearly earnings.
The benchmark DSE General Index (DGEN) gained 1.05 per cent or 66.50 points to end at 6,375.93, after closing flat in the previous session.
The broader All Shares Price Index (DSI) rose 0.88 per cent or 46.61 points to 5,295.93. The DSE 20 index comprising blue chip shares ended at 3,742.23, up by 0.33 per cent or 12.46 points.
Trading activity was also higher as turnover stood at Tk 16.40 billion, showing an increase of 31 per cent over the previous session. Out of 250 issues traded, 136 closed positive, 107 negative and seven remained unchanged.
"GP has pulled up the market," said RACE Asset Management Company, in its daily market commentary. Energy, pharmaceuticals and non-banking financial institutions (NBFIs), which rose more than two per cent each, also contributed to rise of the market, it said.
GP, the most weighted shares in DSE and lone listed company in telecommunication sector, gained 5.88 per cent following declaration of its half-yearly results.
As per un-audited half-yearly accounts, the company has reported consolidated profit after tax of Tk 4,832.95 million with weighted average EPS of Tk 3.58 as against Tk. 4,775.37 million and Tk. 3.93 respectively for the same period of the previous year.