BSS
  04 Nov 2024, 20:12

Stocks rise owing to govt moves

DHAKA, Nov 04, 2024 (BSS) - Country's both bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today, witnessed an upward trend following the government’s move on reducing tax rate on capital gains.

The National Board of Revenue (NBR) has reduced the tax rate to 15 percent on capital gains above Taka 50 lakh from selling shares of listed companies on the stock exchanges for encouraging investment in capital market.

The Bangladesh Securities and Exchange Commission (BSEC) has also taken a decision to form a committee for reducing time maturating transactions in the stock markets.                                       
It will form the committee soon with representatives of DSE, CSE, CDBL, brokerage firms of the capital market, along with representatives of Bangladesh Bank and other related institutions, to resolve the settlement time of the existing share transactions of the capital market.

Based on different moves of the government, the DSEX, the prime index of the DSE, went up by 61.64 points or1.19 per cent to settle at 5252.50. The DSE 30 Index, comprising blue chips, and the DSE Shariah Index (DSES) also gained 22.16 points to finish at 1937.59 and 15.25 points closing at 1,162.40.

Turnover, a crucial indicator of the market, increased to Taka 5,652.46 million on the country's premier bourse which was Taka 4,313.63 million at the previous session of the week.

Out of 396 issues traded, 257 closed green, 107 in the red and 32 remained unchanged on the DSE trading floor.

BSC topped the turnover chart, followed by FEKDIL, ORIONINFU, ISLAMIBANK and UNIQUEHRL.
 MONOSPOOL was the day's best performer, posting a gain of 9.95 per cent while VAMLRBBF was the worst loser, losing 7.27 percent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI-advancing 122.03 points to settle at 14,584.94 and the Selective Categories Index - CSCX gaining 77.07 points to close at 8874.20.

Of the issues traded, 142 advanced, 56 declined and 16 remained unchanged on the CSE.
The port city’s bourse traded 2.89 million shares and mutual fund units with a turnover value of Taka 65.59 million.