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Investors to Benefit from Capital Market: Finance Minister

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Finance Minister Abul Hasan Mahmood Ali announced that individual investors in the capital market will not be taxed on capital gains up to 50 lakh taka in the proposed budget for the 2024-2025 fiscal year. However, gains exceeding 50 lakh taka will be subject to taxation. He expressed hope that this measure would benefit stock market investors.

The minister made this statement on Friday, June 7, during a post-budget press conference at the Osmani Memorial Auditorium in the capital. Finance Secretary Dr. Md. Khairuzzaman Majumdar moderated the conference.

Local Government, Rural Development, and Co-operatives Minister Md. Tajul Islam; Industries Minister Nurul Majid Mahmud Humayun; Planning Minister Major General (Retd.) Abdus Salam; Housing and Public Works Minister A. M. Obaidul Muktadir Chowdhury; Prime Minister’s Economic Affairs Advisor Mashiur Rahman; Agriculture Minister Dr. Md. Abdus Shahid; Education Minister Mohibul Hasan Chowdhury Nowfel; State Minister for Commerce Ahsanul Islam Titu; State Minister for Finance Wasika Ayesha Khan; Cabinet Secretary Md. Mahbub Hossain; Bangladesh Bank Governor Abdur Rouf Talukder; and Chairman of the National Board of Revenue (NBR) Abu Hena Md. Rahmatul Muneem was also present at the press conference.

Finance Minister Ali further elaborated on the tax structure reforms aimed at controlling inflation. He highlighted that realized capital gains from stock market transactions exceeding 50 lakh taka would incur a 15% tax. Gains below this threshold would remain tax-free.

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Weekly U.S. Stock Market Reports Diverse Performance

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Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 555 points, reaching a closing value of 17,688 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 85 point to settle at 5,431 points. Meanwhile, DJIA Index experienced a notable drop, losing 209 points during the week and concluding at 38,589 points after a week of gaining.

In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 40 points to reach 3,077 points by the end of the week.

Moving to Russell 2000 Index, demonstrated a notable drop of 20 point, ending the week at 2,006 points.

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Weekly European Stocks Shows Negative Result

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In the Outgoing week, the European stock market displayed a massive losing performance.

Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a drop of 12.5 points to close at 511.05.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 99 points or finishing the session at 8,146.

In Germany, the DAX 30 index, lost by 555 points to reach 18,002, while France’s CAC 498 decreased by 9 points to stop at 7,503 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,995 points to 32,665. However, Spain’s IBEX 35, added by 412 points, to close at 10,992.

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South Asian Stocks Reports Gaining Performance in Recent Week

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 299 points during the week. At the end of the week, the index stood at 76,992 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 175 points last week. At the end of the week, the index stood at 23,465 points.

Pakistan Stock Exchange Index ‘KSE 100’, shed 2,926 points last week. After a week of losing, the index settled at 76,742 points.

On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ increased by 208 points in a week. After a week the index settled at 12,314 points.

Bhutan’s stock market index ‘BSI’ added 68 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ gain 35 points, therefore the index stands at 2,112 points.

Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ dropped by 119.51 points or 2.28 percent, in the outgoing week. At the end of the week, the index stands at 5,117 points.

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