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DSE, CSE rise in early trading on tax proposal review hope

FE Online Report | Published: June 19, 2019 11:19:12 | Updated: June 20, 2019 14:21:06


Stocks witnessed positive trend in early trading on Wednesday as investors are active on sector-wise shares after recent sharp fall.

Market analysts said investors went for buying shares with an expectation that the government might review 15 per cent tax imposed on listed companies’ reserve in the proposed budget for the fiscal year (FY) 2019-20.

Following the previous day’s modest gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive trend on Wednesday with trading activities remained low.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 18 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 55 points at 10:45am.

After 30 minutes of trading, the DSEX gained more than 21 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 70 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 21.50 points or 0.39 per cent to stand 5,421 points at 11:00am.

The DS30 index, comprising blue chips, also advanced 5.20 points to reach at 1,900 points till then. The DSE Shariah Index also gained 4.41 points to stand at 1,236 points.

Turnover, the important indicator of the market, stood at Tk 864 million on DSE when the report was filed at 11:00am.

Eastern Insurance was the most traded stocks till then with shares worth Tk 82 million changing hands, closely followed by Sonar Bangla Insurance, Nurani Dyeing, Eastland Insurance and Asia Insurance.

Of the issues traded till then, 178 advanced, 68 declined and 39 remained unchanged on the DSE trading floor.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with CSE All Share Price Index- CASPI-advancing 70 points to stand at 16,645 points, also at 11:00am.

The Selective Category Index – CSCX –also gained 43 points to stand at 10,088 points till then.

Of the issues traded till then, 52 advanced, 20 declined 12 issues remained unchanged with Tk 23 million in turnover.

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