DSE, CSE soar on budgetary hopes

FE Online Report | Published: June 06, 2018 15:40:54 | Updated: June 08, 2018 09:56:58


Stocks ended higher for the second day in a row on Wednesday amid budgetary expectations.

DSEX, the benchmark index of the Dhaka Stock Exchange, finished the day at 5398 points, after posting a rise of nearly 52 points or 0.97 per cent.

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Market insiders said the investors went for buying shares in anticipation of corporate tax cut of listed banks and financial institutions for the upcoming fiscal year.

Following the previous day’s upturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid low trading activities.

The positive trend continued till end of the session, finally DSEX ended nearly 52 points higher while CSE All Share Price Index gained 135 points.

The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 13 points to finish at 1993 and the DSE Shariah Index (DSES) rose 2.85 points to close at 1,246 points.

The market activities also rose and the total amounting to Tk 4.56 billion, which was 19 per cent higher than the previous day’s Tk 3.82 billion.

Of the traded issues, 177 advanced, 104 declined and 55 issues remained unchanged on the DSE trading floor.

Alif Industries topped the day’s turnover chart with shares worth Tk 254 million changing hands, closely followed by Beximco, Khulna Power Company, Monno Ceramic Industries and Berger Paints.

BD Autocars was the day’s best performer for the third straight session, posting a gain of 9.98 per cent while Intraco Refueling Station was the day’s worst loser, plunging by 6.32 per cent.

The port city’s bourse, Chittagong Stock Exchange (CSE) also closed higher with CSE All Share Price Index – CASPI – advancing 135 points to finish at 16,617 points.

The Selective Categories Index - CSCX – also gained 83 points to settle at 10,052 points.

Gainers beat losers as 121 issues closed higher, 66 lower and 34 remained unchanged on the CSE.

The port city bourse traded 5.02 million shares and mutual fund units worth more than Tk 178 million in turnover.

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