Stocks rise as NBR clarifies black money opportunity
Stocks returned to the black yesterday after the National Board of Revenue said it would not question the source of undisclosed money to be invested in the share market.
The benchmark General Index, the yardstick of Dhaka Stock Exchange, closed at 5,239.70 points, after gaining 84.56 points or 1.64 percent.
The government has not taken any decision to question the source of undisclosed money to be invested in stocks, NBR Chairman Nasiruddin Ahmed said in a news briefing.
The market rallied as the NBR clarified the investment of undisclosed money in capital market, said LankaBangla Securities, a leading stockbroker. Buoyant investors were mostly attracted to small-cap shares, it said.
“The investors should not pay attention to rumours to make new investments,” said Ahasanul Islam, senior vice president of DSE.
The NBR clarification encouraged investors to buy new shares, Islam said.
A total of 1.20 lakh trades were executed, generating a turnover of Tk 423 crore with 8.51 crore shares being traded on the Dhaka bourse. The turnover gained 17.2 percent compared to the previous day.
A total of 264 issues traded: 238 advanced, 18 declined, and 8 remained unchanged.
Among major sectors, non-bank financial institutions increased 2.38 percent to become the top gainer. The pharmaceuticals sector rose 1.43 percent.
Banks and the telecom sector gained more than 1 percent, while the power sector rose 0.43 percent.
RN Spinning Mills topped the turnover leaders with 16.97 lakh shares worth Tk 13.10 crore changing hands.
Purabi General Insurance was the biggest gainer of the day as it posted a 9.94 percent rise. MBL First Mutual Fund was the worst loser, slumping by 5.32 percent.
The Chittagong Stock Exchange ended higher with its Selective Categories Index adding 161.62 points or 1.72 percent.
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