Stocks Market Falls after Budget
Stocks trading fell Sunday morning as the proposed budget failed to boost investors’ confidence.
Indices of both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) began falling from early hours soon after the opening bell.
CSE officials in a morning press briefing welcomed the proposed budget “as declared measures can help in improving capital market environment.”
But analysts from different equity research teams of top brokerage firms and investment banks told The Business Standard, “The Budget proposed by the finance minister on Thursday lacks new incentives expected by investors.’’
They said investors are not happy with the proposed 15 percent tax on retained earnings. Besides lots of proposals from stakeholders were not addressed in the proposed budget, which is very significant in terms of building a developed market.
The DSE called a press briefing at 1.00 PM to express their opinion on the proposed national budget.
