The country’s decorator, recruiting, security and cleaning services added a total of Tk 38,562 million of gross values to the gross domestic products in the fiscal year 2010-2011, revealed a survey conducted by the Bangladesh Bureau of Statistics.
‘Overall GDP of the country would have increased by 0.48 percentage points in FY 2010-2011 had the gross value added of the fourDhaka stocks drop for 2nd day on US GSP suspension
Staff Correspondent
Dhaka stocks declined for the second trading session on Sunday, the last trading session of the financial year 2012-2013, as investors, dejected by the US government’s withdrawal of the generalised system of preferences for Bangladesh, offloaded shares.
The benchmark general index of the Dhaka Stock Exchange, DSEX, declined to 4,104.64 points, shedding 1.07 per cent or 44.51 points.
The old benchmark general index of the bourse, DGEN, closed at 4,385.76 points, losing by 0.89 per cent or 39.70 points on the day.
The DSEX and the DGEN lost 85.45 points and 79.71 points respectively in the last two trading sessions.
The textile sector lost 1.62 per cent on the day while telecommunication sector lost the most — 2.85 per cent.
Market operators said the withdrawal of the GSP facility for Bangladesh by the US government made the investors anxious.
The investors in early hours of the session sold off huge number of shares of the issues of the textile sector as they feared that the withdrawal of the facility would put negative impact on the earning of the companies, they said.
The US government on Friday withdrew the GSP facility for Bangladesh blaming that the government had failed to improve workers safety standard.
Selling pressure by the mutual funds on the last date of their accounts closing day might be another reason for the fall in shares prices, they said.
They also said that the market might take positive turn shortly when the mutual funds would buy shares after the year closing.
DS30, the blue-chip index of the DSE, declined by 0.96 per cent, or 15.01 points, to finish at 1,532.54 points.
The turnover of the bourse dropped to Tk 568.22 crore on Sunday from Tk 644.15 crore in the previous session.
‘Cyclical downbeat continued from the very beginning of today’s session, which represented investors’ reaction over different news regarding GSP suspension in recent days,’ IDLC Investments said in its daily market commentary.
Of the 286 shares and mutual funds traded on the day, 105 advanced, 161 declined, and 20 remained unchanged.
Meghna Petroleum led the turnover chart on the day with its shares worth Tk 39.98 crore changing hands.
JMI Syringes and Medical Devices gained the most on the day as its share price increased by 9.84 per cent, while Easter Housing lost the most with a 9.96-per cent fall. services sectors been added at the current price,’ said the report on Survey of Selected Business Services 2012 published on Sunday.
Planning minister AK Khandker unveiled the report at a programme held at BBS auditorium.
The survey was conducted based on data from the 2010-11 FY.
Activities related to these services were not included while estimating the previous GDPs due to lack of data.
BBS officials said that it would be included in the GDP estimated for the current fiscal year when it gets revised.
According to the survey report, 486 establishments of security services added the highest amount of Tk 27,416 million GVA to GDP in FY 2010-2011 and provided employment to 2,55,462 people.
A total of 18,011 decorator service providers added Tk 5,151 million GVA to GDP in the year and generated jobs for 1,11,100 people.
As many as 414 recruiting service establishments added Tk 5,616 million GVA to GDP in the year and created employment for 3,744 people while 20 cleaning service providers added Tk 379 million GVA to GDP in FY 2010-2011 and provided employment to 4,889 people.
-With New Age input
