Stocks open higher on tax review hope

Stocks witnessed upward trend in early hours of trading on Thursday as some investors are showing their buying spree on sector-wise shares amid tax review expectations in the final budget.

Following the previous day’s positive trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed upturn amid rising trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 16 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 40 points at 10:45am.

After 30 minutes of trading, the DSEX rose more than 23 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 52 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 23.17 points or 0.42 per cent to stand 5,433 points at 11:00am.

The DS30 index, comprising blue chips, also gained 10.82 points to reach at 1,922 points till then. The DSE Shariah Index also advanced 4.27 point to stand at 1,246 points.

Turnover, the important indicator of the market, stood at Tk 842 million on DSE when the report was filed at 11:00am.

United Power was the most traded stocks till then with shares worth Tk 82 million changing hands, closely followed by Bangladesh Shipping Corporation, Square Pharma, Fortune Shoes and Global Insurance.

Of the issues traded till then, 181 advanced, 73 declined and 60 remained unchanged on the DSE trading floor.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw upward trend till then with CSE All Share Price Index- CASPI-advancing 52 points to stand at 16,614 points, also at 11:00am.

The Selective Category Index – CSCX –also gained 33 points to stand at 10,069 points till then.

Of the issues traded till then, 51 advanced, 46 declined 30 issues remained unchanged with Tk 22 million in turnover.

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