Dhaka stocks ended flat on Tuesday with the turnover of the bourse hitting a seven-month high as investors remained optimistic amid hopes for positive budgetary measures.
DSEX, the benchmark general index of Dhaka Stock Exchange, inched down to 0.01 per cent, or 0.48 points, to close at 3,974.48 points.Turnover of the bourse increased on the day to Tk 611.76 crore from the previous day’s Tk Tk 546.99 crore.
On October 14, the DSE turnover was Tk 691 crore which was the highest before Tuesday’s.
The old benchmark index of the bourse, DGEN, inched up by 0.15 per cent, or 6.35 points, to close at 4,222.94 points.
DS30, the blue-chip index of the DSE, gained 0.19 per cent, or 2.81 points, to close at 1,465.10 points.
Market operators said investors remained optimistic following statements from different government agencies and high-ups that the coming budget would be capital market-friendly.
They said that investors were also upbeat following the government’s move to allocate Tk 1,200 crore for refinancing scheme for the small-scale investors affected by the stock market crash.
They said the government’s move to announce a package for the stock market including a provision of raising tax exemption limit on income from dividend boosted the investors.
‘Today the market witnessed correction of prices as some investors went for sell-offs following the rise in the last few days,’ said a stockbroker.
The National Board of Revenue has prepared a set of proposals for the next budget with a proposal that small-scale investors will not be imposed any tax for dividend income between Tk 10,000 and Tk 15,000.
The facility to legalise undisclosed money by investing in the capital market with 10 per cent tax will continue like the previous fiscal year.
The finance minister, Abul Maal Abdul Muhith, will place before parliament the budget for 2013-14 financial year on Thursday.
Of the 286 issues traded on Tuesday, 108 advanced, 159 declined, and 19 remained unchanged.
United Airways topped the turnover chart with its shares worth Tk 43.24 crore changing hands.
The other turnover leaders were Unique Hotel, Active Finance, SPPCL, Square Pharmaceuticals, Titas Gas, Bangladesh Submarine Cable Company, Meghna Petroleum, Premier Cement and RN Spinning Mills.
-With New Age input