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Stocks ended lower on Sunday after a three-day rise, as jittery investors sold off shares following the news that the capital gain tax would remain in the upcoming national budget.
The prime index of the Dhaka Stock Exchange (DSE) declined 27 points to settle at 5,328.
The blue-chip index DS30, a group of 30 prominent companies, saw a 12.93 point decrease to 1909.64, while the DSES Index, which represents Shariah-based companies, saw a 3.51 point decrease to 1,180 until the end.
The market opened lower, with sellers being predominant across the trading floor, as investor sentiment has been triggered again after the government imposed a 15 per cent tax on capital gains exceeding Tk 5 million in the Finance Bill 2024. Cautious investors preferred to remain watchful and monitor the market momentum owing to prevailing uncertainties and opted to secure their recent gains from the market. Said EBL Securities.
Turnover, a crucial indicator of the market, stood at Tk 7.13 billion at the end of trading, which was 1.0 per cent higher than earlier trading days.
The majority of the stocks saw a price surge, as out of the 398 issues traded, 92 closed higher, 268 ended lower, and 38 remained unchanged on the DSE trading floor.
Linde Bangladesh Limited, the most-traded stock with shares worth Tk 157.88 million changing hands, was followed by SAIF Powertec Limited, City General Insurance Co Ltd, Beach Hatchery Ltd, and Alif Industries Limited.
The Chittagong Stock Exchange (CSE) ended lower with its All Share Price Index (CASPI) losing 21.78 points to settle at 15066 and the Selective Categories Index (CSCX) losing 12 points to 9074.
The port city bourse traded 54.79 million shares and mutual fund units with a turnover volume of Tk 6.24 billion.