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Stocks ended lower on Sunday, as investors were largely reluctant to make fresh investments in the absence of any strong positive catalyst to revive investor confidence.
The prime index of the Dhaka Stock Exchange (DSE) decreased 38.20 points to settle at 5,156.23.
The market has been passing through a bearish sentiment for a long while the latest increase of value added tax (VAT) on certain goods triggered further caution over the market’s momentum.
The National Board of Revenue (NBR) on Thursday hiked value-added tax (VAT) and supplementary duty (SD) on nearly 100 goods and services despite widespread concern that the increased taxes will stoke inflation further.
The blue-chip index DS30, comprising 30 leading companies, decreased by 17.22 points to 1,907.04, while the DSES Index, representing Shariah-compliant companies, decreased by 4.39 points to 1,157.55 by the close.
Turnover, a crucial indicator of the market, stood at Tk 3.71 billion, up 14.49 per cent from the previous trading day.
The majority of the stocks saw a price decrease, as out of the 399 issues traded, 69 closed higher, 282 ended lower, and 48 remained unchanged on the DSE trading floor.
Fine Foods was the most-traded stock with shares worth Tk 193.98 million changing hands, followed by Orion Infusion, Midland Bank, Aftab Automobiles, and Prime Finance First Mutual Fund.
The Chittagong Stock Exchange (CSE) ended up with its All Share Price Index (CASPI) decreasing 19.2 points to settle at 14441 and the Selective Categories Index (CSCX) decreasing 10.70 points to settle at 8786.
The port city bourse traded 1.74 million shares and mutual fund units with a turnover volume of Tk 39.54 million.
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