Shares opened the week lower as most of the scrips on the Dhaka Stock Exchange (DSE) fell today, despite a cut in the corporate tax rate for listed companies.
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Stocks ride on blue-chip, multinationals Star Business Report Star Business Report
The stock market rose yesterday riding on the blue-chip stocks and multinational companies.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 31 points, or 0.62 per cent, to 5,126.43.
Stocks of most of the multinational companies rose more than 4 per cent thanks to higher demand from institutional investors ahead of dividend declarations.
Of the 12 multinationals listed with the DSE, seven witnessed a rise of over 4 per cent and three by 1 to 2 per cent. The remaining two saw no change.
Several banks and non-bank financial institutions are increasing their investments in the stock market as their lending business is not in their usual shape, said Khairul Bashar Abu Taher Mohammed, CEO of MTB Capital.