DSE, CSE open new fiscal year on negative note

FE Online Reports | Published: July 02, 2019 11:37:10 | Updated: July 03, 2019 11:06:31

Stocks witnessed downward trend in early hours of trading on Tuesday, the first session of the fiscal year (FY) 2019-20, as investors mostly followed cautious.

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) witnessed downward trend at opening.

Within first 15 minutes of trading, the key index of the country’s prime bourse fell 4.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 5.0 points at 10:45am.

After 30 minutes of trading, the DSEX fell more than 17 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 7.0 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went down by 17.80 points or 0.32 per cent to stand 5,403 points at 11:00am.

The DS30 index, comprising blue chips, also fell 16 points to reach at 1,912 points till then. The DSE Shariah Index also shed 9.0 point to stand at 1,235 points.

Turnover, the important indicator of the market, stood at Tk 715 million on DSE when the report was filed at 11:00am.

Runner Automobiles was the most traded stocks till then with shares worth Tk 59 million changing hands, closely followed by United Power, Genex Infosys, Square Pharma and HR Textile.

Of the issues traded till then, 140 advanced, 85 declined and 69 remained unchanged on the DSE trading floor.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw downturn till then with CSE All Share Price Index- CASPI-losing 7.0 points to stand at 16,627 points, also at 11:00am.

The Selective Category Index – CSCX –also shed 5.0 points to stand at 10,079 points till then.

Of the issues traded till then, 57 advanced, 25 declined 24 issues remained unchanged with Tk 22 million in turnover.


Share if you like