Dhaka, Bangladesh (BBN) – Dhaka stocks gained on Sunday on a flurry of fresh buying in non-banking financial institutions (NBFIs), insurance and IT sectors, market operators said.

The DSE General Index (DGEN) — the benchmark — rose 17.62 points to close at 2570.58. The DSE All Shares Price Index (DSI) was up by 13.83 points to end at 2139.03 and the DSE 20 Index comprising blue chip issues increased marginally by 0.07 points to finish at 1954.56.

There was an initial spike in the DGEN when it gained about 16 points in the first 20 minutes of trade. The sharp rise was largely due to increases in the NBFIs and insurance companies.

The sectors were also the better performers among all sectors last week. These companies traded close to their day-high level around the mid-session.

Investors bought shares after two days of decline and took heart at the news that the NBFIs would have to implement the BASEL-II accord as per central bank directive, which would strengthen the capital base, they added.

Other sectors like mutual funds, textile, cement, paper and printing, and ceramic lost their edge on price correction.

The advancers beat the losers 141 to 99. Eight securities remained unchanged. The total DSE turnover saw the sharpest increase to BDT 5.76 billion, up by 37.6 per cent from Thursday’s BDT 4.18 billion, on the back of huge share trading of Beximco Ltd, which was the top turnover leader with shares worth BDT 871.03 million changing hands.

BBN/SS/SI/AD-25May09-3:42 am (BST)