Markets open higher on budget day

FE Online Report | Published: June 07, 2018 11:38:53 | Updated: June 09, 2018 11:23:09


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The prices of most of the shares on both bourses witnessed upward trend in early hour of trading Thursday as some investors continued their buying appetite on sectors-wise stocks.

Meanwhile, the Finance Minister AMA Muhith is set to unveil the national budget for the fiscal year (FY) 2018-19 today.

The Finance Minister is likely to propose to cut the corporate tax rate of the listed banks and non-banking financial institutions for the next fiscal year.

Following the previous two days’ upturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher with rising turnover trading activities.

Within first 30 minutes of trading, the key index of the country’s prime bourse advanced more than 41 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 65 points at 10:30am.

After first hour of trading, the DSEX advanced more than 19 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 47 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 19.15 points or 0.35 per cent to reach at 5,418 points at 11:00am.

The DS30 index, comprising blue chips, advanced 3.53 points to reach at 1,997 points.

The DSE Shariah Index (DSES) also gained 3.19 points to reach at 1,249 points till then.

Turnover, the important indicator of the market, stood at Tk 1.52 billion when the report was filed at 11:00am.

Of the issues traded till then, 176 advanced, 70 declined and 50 remained unchanged.

Aamn Feed was the most traded stocks till then with shares worth Tk 140 million changing hands, closely followed by Legacy Footwear Tk 80 million, United Power Tk 78 million, Alif Industries Tk 63 million and BD Autocars Tk 50 million.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with CSE All Share Price Index- CASPI-advancing 47 points to stand at 16,669, also at 11:00am.

The Selective Category Index – CSCX –also gained 28 points to stand at 10,084 points till then.

Of the issues traded till then, 73 gained, 25 declined and 12 issues remained unchanged with Tk 45 million in turnover.

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