DSEX rallies 112 points as capital gains tax cut sparks market surge
The daily turnover at the DSE jumped by 48% from the previous session, reaching Tk839 crore
The Dhaka Stock Exchange's (DSE) benchmark index, the DSEX, surged by 112 points today (5 November), reaching 5,365.
This marks the second consecutive day of gains following a reduction in capital gains tax by the National Board of Revenue (NBR), which provided a fresh boost to investor confidence.
On Monday, the NBR announced a cut in the capital gains tax rate for gains exceeding Tk50 lakh, reducing it from 30% to 15%.
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This adjustment effectively lowers the maximum tax rate for high-net-worth individuals to 20.25% from 40.25%, including surcharges.
The positive sentiment saw 341 stocks advance, while only 17 declined, and 32 remained unchanged.
The daily turnover at the DSE jumped by 48% from the previous session, reaching Tk839 crore.
Square Pharmaceuticals led trading activity with a turnover of Tk33 crore, followed by Acme Laboratories, Linde Bangladesh, and Bangladesh Shipping Corporation.
Among gainers, Fu Wang Food saw the highest price increase, climbing 10%, with Shurwid Industries, Aramit Cement, Rupali Life Insurance, and National Life Insurance also performing strongly.
In contrast, Lovello Ice-Cream experienced the steepest decline, making it the session's worst performer.
