The Dhaka bourse witnessed a significant slump on the first trading day after the proposed national budget for fiscal 2024-25, with the key indices hitting multi-month lows as investors expressed disappointment over the announced measures. The DSEX benchmark index plunged 65 points or 1.25% to 5,171 – the lowest in 38 months. The DSES Shariah index dropped 15 points or 1.4% to 1,120, while the DS30 blue-chip index declined 22 points or 1.21% to 1,835. Analysts cited lack of positive steps for the capital market and certain measures expected to hurt the ongoing bear run, like imposing a minimum 15% capital gains tax on profits above Tk 50 lakh, as reasons behind the sell-off. Consequently, turnover plummeted 34% to Tk 357 crore amid scarcity of buyers.
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