BSS, Dhaka :
Stock market showed bullish trend on the post-budget trading session on Sunday, with advancing indices and rising share prices across the board. Both Dhaka and Chittagong stock exchanges closed higher in the first trading session after the budget proposal.
Rally in the insurance companies drove the market as finance minister proposed corporate tax cut for listed banks, insurance companies and financial institutions. Cement, pharmaceuticals, bank and NBFI also gained on the day.
The broader DSEX index of Dhaka Stock Exchange (DSE) gained 26.27 points to 4617.70 when the blue-chip DS30 and Shariah DSES inched up at 1775.68 and 1121.37 respectively.
The activities on the market also increased when 16.81 crore shares worth Taka 648 crore changed hands against 12.58 crore shares worth Taka 499.25 crore of Thursday, the day when Finance Minister Abul Maal Abdul Muhith placed at the Jatiya Sangsad the national budget for 2015-16 financial year (FY16).
Muhith made a set of proposals in favor of the capital market in the forthcoming budget. Among those proposals, the threshold of tax-free dividend income limit was raised to Taka 25,000 from the existing Taka 20,000 and the existing tax rate of the publicly traded companies was proposed to be slashed down to 25 percent from the prevailing 27.5 percent.
Stock market showed bullish trend on the post-budget trading session on Sunday, with advancing indices and rising share prices across the board. Both Dhaka and Chittagong stock exchanges closed higher in the first trading session after the budget proposal.
Rally in the insurance companies drove the market as finance minister proposed corporate tax cut for listed banks, insurance companies and financial institutions. Cement, pharmaceuticals, bank and NBFI also gained on the day.
The broader DSEX index of Dhaka Stock Exchange (DSE) gained 26.27 points to 4617.70 when the blue-chip DS30 and Shariah DSES inched up at 1775.68 and 1121.37 respectively.
The activities on the market also increased when 16.81 crore shares worth Taka 648 crore changed hands against 12.58 crore shares worth Taka 499.25 crore of Thursday, the day when Finance Minister Abul Maal Abdul Muhith placed at the Jatiya Sangsad the national budget for 2015-16 financial year (FY16).
Muhith made a set of proposals in favor of the capital market in the forthcoming budget. Among those proposals, the threshold of tax-free dividend income limit was raised to Taka 25,000 from the existing Taka 20,000 and the existing tax rate of the publicly traded companies was proposed to be slashed down to 25 percent from the prevailing 27.5 percent.
