Dhaka, Bangladesh (BBN)– Dhaka stocks rebounded the week that ended Thursday, after a week in negative with improving turnover value despite the investors was in somewhat tension entering country’s political situation.
The week witnessed five trading sessions as usual. Among those three sessions gained while two sessions lost.
The week closed positive as the investors were somewhat optimistic following the National Board of Revenue’s (NBR) reintroduction of tax rebate facility for the stock investors and momentary relief from political uncertainty, the market operators said.
The NBR issued a Statutory Regulatory Order (SRO) on Sunday, stating, from the current month the investors in both initial public offerings (IPOs) and in shares, mutual funds and debentures in the secondary market can enjoy 10 per cent tax rebate.
“The market might have posted the large gain of 205.79 points or 4.77 per cent Monday and Tuesday following the news of reintroduction of tax rebate,” BRAC-EPL, a stock broker, said in its weekly market commentary.
In the week, the DSE General Index (DGEN), the yardstick of the market went up by 198.43 points or 4.57 per cent to close at 4,543.45.
The broader All Shares Price Index (DSI) soared 163.68 points or 4.49 per cent to close at 3,808.14. The DSE-20 Index comprising blue-chip shares also advanced 61.38 points or 1.74 per cent to close at 3,584.63.
Total turnover value for the week stood at BDT 12.78 billion which was 11.9 percent higher than last week’s value of BDT 11.43 billion.
Turnover was lowest on Sunday at BDT 1.27 billion and highest on Thursday at BDT 3.71 billion.
Average daily turnover stood at BDT 255 billion against BDT 2.28 billion in the previous session, indicating cautious trading by the investors and absence of institutional investors.
Out of 269 issues traded during the week, 239 advanced, 24 declined and six remained unchanged.
All sectors closed higher on the week, except Food and Allied and BATBC.
Beximco Limited topped the week’s turnover chart with shares worth BDT 1.0 billion changing hands.
Samorita Hospital was the week’s top gainer posting a rise of 25.80 percent while RN Spinning was the worst loser.
BBN/BB/SI-17Mar12-12:30 pm (BST)