Capital gain tax waiver spurs rally in stock trading

The market witnessed sharp rise on Sunday amid high turnover as investors went for buying spree following withdrawl of the capital gain tax in the budget for fiscal 2014-15. The prime index of the Dhaka Stock Exchange (DSE) -- DSEX went up by 77.64 points or 1.76 per cent to close at 4,487.07 points from previous session. The other two indices saw sharp rise. The DS30, comprising blue chips gained 22.32 points or 1.38 per cent to close at 1,638.90 points. The DSE Shariah Index (DSES) went up by 10.95 points or 1.08 per cent to close at 1,017.17 points. The total turnover on DSE improved to Tk 3.90 billion, which was 28.7 per cent higher compared to previous session’s value of Tk 3.03 billion. Out of 296 issues traded, 236 advanced, 44 declined and 16 remained unchanged on the DSE floor. Lafarge Surma Cement was the most traded stocks with shares worth Tk 344.35 million changing hands followed by Beximco, GP, United Airways and Square Pharma. Fine Foods was the day’s highest gainer, posting a rise of 9.92 per cent while Delta Active Fine was the day’s worst loser, slumping by 4.09 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also saw steep gain with its Selective Categories Index – CSCX – gained 139.46 points to close at 8,540.83 points. Losers beat gainers 179 to 35, with 10 issues remaining unchanged at the port city bourse that traded 10.87 million shares and mutual fund units with turnover value of Tk 325.64 million.