& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Stocks bounce back as capital gains tax goes

Star Business Report
Stocks gained 1.76 percent yesterday, the highest single day rise in the last one month, upon news of the government's withdrawal of the proposed capital gains tax on individual investors in the upcoming fiscal year.
DSEX, the benchmark general index of Dhaka Stock Exchange, gained 77.64 points, to close at 4,487 points, the highest in the last one and a half months.
Finance Minister AMA Muhith proposed a 3 percent tax on capital gains upwards ofTk 10 lakh and 5 percent for gains above Tk 20 lakh from the stockmarket in fiscal 2014-15, a move which left general investors on the back foot.
The market lost 1.68 percent since the announcement on June 5. The feature was ultimately crossed out in the Finance Bill 2014, passed in parliament on Saturday.
"The market got a boost as the government withdrew the capital gains tax on individual investors," said Mohammed Rahmat Pasha, managing director of BRACEPL, a leading stockbrokerage. The government also brought in some positive changes for listed companies as well as investors, all of which combined to boost investor confidence, he added.
The government raised the limit for tax-free dividend income to Tk 20,000 from Tk 10,000 and allowed a 10 percent tax rebate for listed companies that pay 30 percent or more dividends.
Since the market debacle of 2010, the government offered a number of stimulus packages but vibrancy in the market is yet to return.
Turnover, one of the most important indicators of the market, advanced 28.85 percent from the previous day to Tk 390 crore, the highest in the last two weeks.
Mostly financial, pharmaceutical and engineering stocks saw the buying interest of investors, said LankaBangla Securities.
A total of one lakh trades were executed, with 10.39 crore shares and mutual fund units changing hands on the Dhaka bourse.
The gainers took a strong lead over losers by 236 to 44, while 16 remained unchanged among the 296 issues that traded on the DSE floor.
Among the major sectors: miscellaneous gained 4.93 percent followed by service 4.18 percent, non-bank financial institutions 4.12 percent, foods 3.31 percent, paper and printing 2.80 percent, information technology 2.76 percent, ceramic 2.79 percent, tannery 2.59 percent, bank 2.19 percent, engineering 2.2.05 and power 2.56 percent.
Telecom, one of the heavyweight sectors, lost 0.80 percent. The pharma sector generated the highest turnover of Tk 52 crore yesterday, followed by cement 47 crore, banks Tk 38 crore, miscellaneous Tk 36 crore, engineering Tk 35 crore, textileTk30.1 crore, powerTk 30 crore and telecom 29 crore.
Lafarge Surma Cement topped the most traded chart with its transaction of 41.25 lakh shares worth Tk 34 crore, followed by Beximco, Grameenphone, United Airways