Stocks open week in black

Bull return to Dhaka Stock Exchange (DSE) on Sunday after closing last week lower amid technical glitch that halted trading for hours in two sessions, reports BSS.
The broader DSEX gained nearly 42.24 points to finish the day at 4586.95 at Sunday's close when the blue-chip DS30 and Shariah DSES ended higher at 1758.01 and 1112.79 respectively.
"Dhaka stock market is now following economic cues ahead of budget. Yesterday, investors might have responded positively to the news of corporate tax cut on bank and non-bank financial institutions", said Lanka Bangla Securities Limited.
There was a media report about possible cut in the corporate tax rate to 40.0 per cent from existing 42.5 per cent for the banks, insurances and FIs that are listed on the bourses. The news had a positive impact on investors.
The forecast of HSBC about Bangladesh economy also comforted many on the market. UK-based bank HSBC forecasted that Bangladesh would post strong economic growth and see a bullish trend in exports up to 2030.
The positive news made investors confident in planning their portfolio investment, but the daily transaction declined as they were also awaiting a clear direction about the economic trend in the next financial year.
The daily trade value was down by 8.20 per cent to Tk 788.42 crore when the volume came down by 10.39 per cent to 16.89 crore shares. The lower activities caused fall in prices of 141 securities when 121 gained and 47 remained unchanged.
The major gaining issues were Summit Power, BBS, BSRM Limited, BSRM Steel and Apollo Ispat. The major lagging securities included ICB1stNRB, Samata Leather, Northern Ins, Alltex and Sun Life.
The major gaining sectors were engineering (3.80 per cent), fuel and power (1.31 per cent) and cement (1.07 per cent) when the major losing sectors were food and allied (-1.52 per cent), bank (-0.08 per cent), mutual fund (-0.50 per cent) and textile (-0.39 per cent).
BEXIMCO topped the turnover list followed by Rak Ceramic, ACI Formula, UPGDCL, SPPCL and BSCCL.

 

Stocks open week in black

Bull return to Dhaka Stock Exchange (DSE) on Sunday after closing last week lower amid technical glitch that halted trading for hours in two sessions, reports BSS. The broader DSEX gained nearly 42.24 points to finish the day at 4586.95 at Sundays close when the blue-chip DS30 and Shariah DSES ended higher at 1758.01 and 1112.79 respectively. Dhaka stock market is now following economic cues ahead of budget. Yesterday, investors might have responded positively to the news of corporate tax cut on bank and non-bank financial institutions, said Lanka Bangla Securities Limited. There was a media report about possible cut in the corporate tax rate to 40.0 per cent from existing 42.5 per cent for the banks, insurances and FIs that are listed on the bourses. The news had a positive impact on investors. The forecast of HSBC about Bangladesh economy also comforted many on the market. UK-based bank HSBC forecasted that Bangladesh would post strong economic growth and see a bullish trend in exports up to 2030. The positive news made investors confident in planning their portfolio investment, but the daily transaction declined as they were also awaiting a clear direction about the economic trend in the next financial year. The daily trade value was down by 8.20 per cent to Tk 788.42 crore when the volume came down by 10.39 per cent to 16.89 crore shares. The lower activities caused fall in prices of 141 securities when 121 gained and 47 remained unchanged. The major gaining issues were Summit Power, BBS, BSRM Limited, BSRM Steel and Apollo Ispat. The major lagging securities included ICB1stNRB, Samata Leather, Northern Ins, Alltex and Sun Life. The major gaining sectors were engineering (3.80 per cent), fuel and power (1.31 per cent) and cement (1.07 per cent) when the major losing sectors were food and allied (-1.52 per cent), bank (-0.08 per cent), mutual fund (-0.50 per cent) and textile (-0.39 per cent). BEXIMCO topped the turnover list followed by Rak Ceramic, ACI Formula, UPGDCL, SPPCL and BSCCL.