Stocks extend rally for 2nd day on capital gain tax cut

Business Report :

Country’s both bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), on Tuesday witnessed an upward trend like previous day as bargain hunters took positions on lucrative stocks riding on the news of capital gain tax cut on individual investors.
Market experts observed that the investors showed buying appetite based on the capital gain tax cut and the latest earnings and dividend declarations as some of the listed companies posted hefty profit and declared higher dividends, reports BSS.
The decision of Bangladesh Securities and Exchange Commission (BSEC) to form a committee for investigating the reasons behind the recent downtrend also boosted investors’ confidence to some extent.
DSEX, the prime index of the DSE, went up by 112.52 points or 2.14 per cent to settle at 5,365.02. The DSE 30 Index, comprising blue chips, and the DSE Shariah Index (DSES) also gained 30.17 points to finish at 1967.76 and 29.18 points closing at 1,191.58.
Turnover, a crucial indicator of the market, increased to Taka 8,397.06 million on the country’s premier bourse which was Taka 5,652.46 million at the previous session of the week.
Out of 399 issues traded, 304 closed green, 65 in the red and 30 remained unchanged on the DSE trading floor.
SQURPHARMA topped the turnover chart, followed by ACMELAB, LINDEBD, BSC and ISLAMIBANK.
FUWANGFOOD was the day’s best performer, posting a gain of 10 per cent while LOVELLO was the worst loser, losing 5.13 percent.