Stocks witnessed mixed trend in early hours of trading on Wednesday as investors mostly followed cautious after the final budget.
Parliament passed the tax measures for fiscal 2019-20, reducing tax on retained earnings and reserves of companies to 10 per cent from initially-proposed 15 per cent in the face of outcry from businesses
Following the previous day’s positive trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 14 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 25 points at 10:45am.
After that it started to decline. After 30 minutes of trading, the DSEX fell 0.34 point while the CSE All Share Price Index (CASPI) of port city’s bourse gained 18 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went down by 0.34 point to stand 5,384 points at 11:00am.
The DS30 index, comprising blue chips, also fell 1.40 points to reach at 1,911 points till then. However, the DSE Shariah Index advanced 0.70 point to stand at 1,235 points.
Turnover, the important indicator of the market, stood at Tk 851 million on DSE when the report was filed at 11:00am.
National Tubes was the most traded stocks till then with shares worth Tk 50 million changing hands, closely followed by National Life Insurance, United Power, Simtex Industries and Runner Automobiles.
Of the issues traded till then, 152 advanced, 88 declined and 59 remained unchanged on the DSE trading floor.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) saw positive trend till then with CSE All Share Price Index- CASPI-advancing 18 points to stand at 16,530 points, also at 11:00am.
The Selective Category Index – CSCX –also gained 11 points to stand at 10,021 points till then.
Of the issues traded till then, 38 advanced, 27 declined 22 issues remained unchanged with Tk 23 million in turnover.