Monday, August 19, 2019 | ePaper

Stocks rebound after two-day slump

  • Print
Economic Reporter :
Stocks rebounded on Tuesday, snapping a two-day sharp decline, as investor showed their buying appetite amid expectations.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 5,400, gaining 24.94 points, after losing nearly 100 points in the past two days.
Market analysts said the market backed to green as National Board of Revenue (NBR) chairman hinted at the possibility of reviewing some proposals of the budget for fiscal year (FY) 2019-20.
The Finance Minister AHM Mustafa Kamal proposed, among other, imposition of 15 per cent additional tax on retained earnings and reserves, if the amount exceeds 50 per cent of the paid-up capital of the company which reacted negatively in the capital market.
The budget 2019-20 also proposed imposing 15 per cent tax on stock dividend to promote cash dividend as part of efforts to increase money flow into the stock market. The market opened on positive note and went down in the red after first hour of trading. But rest of the session went up steadily.
Two other indices also finished higher. The DS30 index, comprising blue chips, advanced 5.71 points to finish at 1,895 and the DSE Shariah Index gained 8.29 points to close at 1,232.
Turnover, another important indicator of the market, stood at Tk 5.28 billion, which was 1.12 per cent lower than the previous day's turnover of Tk 5.35 billion.
A total number of 135,455 trades were executed in the day's trading session with trading volume of 175.95 million securities.
The market capitalisation of the DSE also fell to Tk 3984 billion on Tuesday, from Tk 3968 billion in the previous session.
The gainers took a modest lead over the losers as out of 349 issues traded, 196 advanced, 105 declined and 48 issues remained unchanged on the DSE trading floor.
Eastern Insurance was the day's best performer, posting a gain of 9.82 cent while Pragati Insurance was the worst loser, losing 5.82 per cent.
The port city bourse, Chittagong Stock Exchange, also ended marginally higher with its CSE All Share Price Index - CASPI -advancing by 86 points to settle at 16,576 and the Selective Categories Index - CSCX -gaining 53 points to finish at 10,044.

More News For this Category

Dr. Engr. Rashid Ahmed Chowdhury, Chairman, Board of Directors of Bangladesh Commerce Bank Limited, attended the discussion and doa mahfil to mark the National Mourning Day and 44th martyrdom anniversary of Bangabandhu Sheikh Mujibur Rahman at the bank's head office in the city on Wednesday. Zafar Alam, Managing Director (CC) and other senior officials of the bank were also present.

Dr. Engr. Rashid Ahmed Chowdhury, Chairman, Board of Directors of Bangladesh Commerce Bank Limited, attended the discussion and doa mahfil to mark the National Mourning Day and 44th martyrdom anniversary of Bangabandhu Sheikh Mujibur Rahman at the bank's head office in the city on Wednesday. Zafar Alam, Managing Director (CC) and other senior officials of the bank were also present.

.

Easy credit poses tough challenge for Russian economy

AFP, Moscow :New machines popping up in Russian shopping centres seem innocuous enough - users insert their passport and receive a small loan in a matter of minutes.But the

Oil market bearish for rest of 2019: OPEC

Xinhua, Vienna :While the outlook for oil market seems somewhat bearish for the rest of the year, it remains critical to monitor the supply-demand balance and assist market stability

Barrister Sheikh Fazle Noor Taposh MP, EC Chairman of Modhumoti Bank Limited, presiding over its 86th meeting at the bank's head office in the city recently. Mohammad Ismail Hossain, Managing Director of Sharmin Group, Salahuddin Alamgir, Chairman of Labib Group, Ahasanul Islam Titu MP, Director of Mona Financial Consultancy& Securities Limited, Humayun Kabir Bablu, Director of Bengal Group and Md. Shafiul Azam, CEO of the bank were present.

Barrister Sheikh Fazle Noor Taposh MP, EC Chairman of Modhumoti Bank Limited, presiding over its 86th meeting at the bank's head office in the city recently. Mohammad Ismail Hossain, Managing Director of Sharmin Group, Salahuddin Alamgir, Chairman of Labib Group, Ahasanul Islam Titu MP, Director of Mona Financial Consultancy& Securities Limited, Humayun Kabir Bablu, Director of Bengal Group and Md. Shafiul Azam, CEO of the bank were present.

.

US set to give Huawei another 90 days to buy from American suppliers

Reuters :The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it

Dhaka Bank, bKash sign deal

Dhaka Bank, bKash sign deal

Business Desk :Dhaka Bank Limited recently has signed an agreement at Amari Dhaka for providing automated payment services to bKash Limited. Emranul Huq, Additional Managing Director of Dhaka Bank

BGIC reappoint Saifuddin as CEO

BGIC reappoint Saifuddin as CEO

Business Desk :Ahmed Saifuddin Chowdhury has been reappointed as Managing Director and CEO of Bangladesh General Insurance Company Ltd (BGIC).He will continue his duty for the next

Stocks post a modest gain after nine-day Eid vacation

Economic Reporter :Stocks posted a modest gain on Sunday, the first trading session after a nine-day Eid holiday, as investors were active on sector specific shares.Trading and official activities

Flood-hit farmers to be rehabilitated

Economic Reporter :Agriculture Minister Dr Abdur Razzaque on Sunday said that the government will rehabilitate the flood-affected farmers and provide them with free fertilisers and seeds for the next

National Mourning Day at BEPZA, EPZs

National Mourning Day at BEPZA, EPZs

Economic Reporter :Bangladesh Export Processing Zones Authority (BEPZA) has observed the National Mourning Day with due respect and solemnity.Executive Chairman of BEPZA Major General S M Salahuddin Islam, along