Business Report :
Shares on the Dhaka and Chattogram stock exchanges continued their bull run on Tuesday on the back of a fuel price cut, albeit marginally.
On Monday, the government slashed the fuel prices by Tk 5 per litre in line with the 11.25 percentage points cut in the import duty of diesel by the National Board of Revenue.
From on Tuesday, the retail price of diesel and kerosene stood at Tk 109, petrol Tk 125 and octane Tk 130. The price adjustment came 23 days after the government went for a record fuel price hike of 42.5 to 42.7 per cent.
As a result, the DSEX, the benchmark index of the Dhaka Stock Exchange, added 24 points, or 0.39 per cent, to close at 6,432, posting an increase for the fifth consecutive day.
The DS30, the blue-chip index, gained 0.17 per cent to 2,279, and the DSES, the shariah-based index, was up 0.21 per cent at 1,396.
Turnover, one of the important indicators of the market, was up slightly at Tk 1,769 crore. It was Tk 1,744 crore on Monday.
Of the securities, 184 advanced, 123 declined and 73 did not show any price movement.
“Stocks continued the bull run as the bargain hunters sustained their buying appetite amidst enthusiastic participation. The buoyant investors exerted their interest riding on the news that the government cut down the fuel oil price by Tk 5 per litre,” said International Leasing Securities Ltd, a brokerage house, in its daily market review.
