Stocks bounce back on DSE as investors regain confidence
Tuesday, 21 August 2007
FE Report
The stock prices on the Dhaka Stock Exchange (DSE) Monday bounced back on the news that the National Board of Revenue (NBR) would not take any measure that might affect the booming share market.
Market operators said investors regained the confidence on the stock market Monday morning after the NBR divulged the news.
The NBR Chairman Badiur Rahman said Sunday last at a discussion meeting organised by the Bangladesh Economic Association (BEA) at the Jatiya Press Club that the board would not take any measure that might affect the booming share market.
On imposition of 10 per cent tax at source on interest income from savings instrument, he said small savers, who are entirely dependent on such earning, might be exempted from the tax in the next fiscal (2008-09) provided their total earning does not exceed the tax ceiling, Badiur said at the meeting of the BEA.
Talking to the FE, Chief Executive Officer (CEO) of the DSE, Salahuddin Ahmed Khan again suggested the investors to be more cautious on investment in the bullish market.
He urged the investors to invest on the stock market on the basis of fundamental analysis of the companies.
Moreover, a huge amount of money has been injected into the capital market after the completion of the subscription of the International Leasing and Financial Services Limited (ILFSL).
The investors have come with the refunded money of the ILFSL on the stock market, operators said.
On the day, the indices, the total turnover and the total market capitalisation gained significantly.
DSE-General Index (DGEN), DSE-20 Index (DS20) and All Shares Price Index (DSI) gained 51.717 points, 54.387 points and 40.622 points to close at 2395.152, 1962.841 and 1990.802 respectively.
The total turnover escalated to Tk 1.930 billion from Tk 1.687 billion on the previous day. The total market capitalisation also increased to Tk 558.181 billion from Tk 547.040 billion on the previous day.
Out of 216 traded issues 92 gained 110 declined and 14 remained unchanged on the day.
Desco was the turnover leader with traded volume of shares worth Tk 192.498 million followed by Square Pharma Tk 155.476 million, BRAC Bank Tk 140.836 million, Summit Power Tk 110.691 million, AB Bank Tk 110.023 million, UCBL Tk 81.965 million, NBL Tk 73.429 million, Power Grid Tk 62.068 million, Uttara Bank Tk 56.263 million and Pubali Bank Tk 55.806 million.
Prices of Desco gained 4.39 per cent to Tk 1008.50, Square Pharma 7.10 per cent to Tk 3694.25, BRAC Bank 1.75 per cent to Tk 940.25, Summit Power 5.11 per cent to Tk 1653.50, AB Bank 7.80 per cent to Tk 2109.75, UCBL 4.65 per cent to Tk 3765.50, NBL 6.95 per cent to Tk 1064.75, Uttara Bank 9.76 per cent to Tk 3317.50 and Pubali Bank 2.45 per cent to Tk 909.50.
Power Grid declined 0.98 per cent to Tk 552.75.
In response to a DSE query, National Bank Limited (NBL) has informed that there was no undisclosed price sensitive information of the Bank for recent unusual price hike.
In response to a DSE query, IFIC Bank has informed that there will be cumulative effect for the proposed dividend for the year 2003 to 2006 i.e. dividend will be paid upon the additive number of issued shares with the previous years and as such, the total percentage of dividend for the year from 2003 to 2006 will be 65.04% (Cumulative basis).
The stock prices on the Dhaka Stock Exchange (DSE) Monday bounced back on the news that the National Board of Revenue (NBR) would not take any measure that might affect the booming share market.
Market operators said investors regained the confidence on the stock market Monday morning after the NBR divulged the news.
The NBR Chairman Badiur Rahman said Sunday last at a discussion meeting organised by the Bangladesh Economic Association (BEA) at the Jatiya Press Club that the board would not take any measure that might affect the booming share market.
On imposition of 10 per cent tax at source on interest income from savings instrument, he said small savers, who are entirely dependent on such earning, might be exempted from the tax in the next fiscal (2008-09) provided their total earning does not exceed the tax ceiling, Badiur said at the meeting of the BEA.
Talking to the FE, Chief Executive Officer (CEO) of the DSE, Salahuddin Ahmed Khan again suggested the investors to be more cautious on investment in the bullish market.
He urged the investors to invest on the stock market on the basis of fundamental analysis of the companies.
Moreover, a huge amount of money has been injected into the capital market after the completion of the subscription of the International Leasing and Financial Services Limited (ILFSL).
The investors have come with the refunded money of the ILFSL on the stock market, operators said.
On the day, the indices, the total turnover and the total market capitalisation gained significantly.
DSE-General Index (DGEN), DSE-20 Index (DS20) and All Shares Price Index (DSI) gained 51.717 points, 54.387 points and 40.622 points to close at 2395.152, 1962.841 and 1990.802 respectively.
The total turnover escalated to Tk 1.930 billion from Tk 1.687 billion on the previous day. The total market capitalisation also increased to Tk 558.181 billion from Tk 547.040 billion on the previous day.
Out of 216 traded issues 92 gained 110 declined and 14 remained unchanged on the day.
Desco was the turnover leader with traded volume of shares worth Tk 192.498 million followed by Square Pharma Tk 155.476 million, BRAC Bank Tk 140.836 million, Summit Power Tk 110.691 million, AB Bank Tk 110.023 million, UCBL Tk 81.965 million, NBL Tk 73.429 million, Power Grid Tk 62.068 million, Uttara Bank Tk 56.263 million and Pubali Bank Tk 55.806 million.
Prices of Desco gained 4.39 per cent to Tk 1008.50, Square Pharma 7.10 per cent to Tk 3694.25, BRAC Bank 1.75 per cent to Tk 940.25, Summit Power 5.11 per cent to Tk 1653.50, AB Bank 7.80 per cent to Tk 2109.75, UCBL 4.65 per cent to Tk 3765.50, NBL 6.95 per cent to Tk 1064.75, Uttara Bank 9.76 per cent to Tk 3317.50 and Pubali Bank 2.45 per cent to Tk 909.50.
Power Grid declined 0.98 per cent to Tk 552.75.
In response to a DSE query, National Bank Limited (NBL) has informed that there was no undisclosed price sensitive information of the Bank for recent unusual price hike.
In response to a DSE query, IFIC Bank has informed that there will be cumulative effect for the proposed dividend for the year 2003 to 2006 i.e. dividend will be paid upon the additive number of issued shares with the previous years and as such, the total percentage of dividend for the year from 2003 to 2006 will be 65.04% (Cumulative basis).