A big fall in the stock market

There has been a big fall in the stock market of Dhaka. The largest price drop was seen on Sunday during the interim government.

On the first working day of the week, the main index of Dhaka Stock Exchange (DSE), the main capital market of the country, lost 125 points from the previous day. After the fall of the government on August 5, the index increased by 695 points in three working days. Today's big drop came amid optimism among investors in a long-running bear market.

The DSE index was at 5,229 points on the last working day of the DSE before the fall of the government. Transactions begin on August 6 after the end of the general holiday. Since then the index has increased in 5 days till last August 12; So that the index rose to a maximum of 5 thousand 932 points.

Since then, DSE has revised the rates. Last Sunday, it fell to 5 thousand 778 points. The index fell below 6 thousand again.

With the decline in the price adjustment index, the transaction also decreased to 480 crore 89 lakh rupees. This is the lowest trading volume in the last 9 working days since the interim government took over.

In the first two days of August 6 and 7, Leneden collected Tk 7.5 billion. The interim government took over on the night of August 8. In the days that followed, thousands of crores were traded. Sometimes it transacts more than one and a half thousand crore rupees and one day two thousand crore rupees.

After the price adjustment, the market started to fall again and the main index stood at 5 thousand 778 points at the end of the day due to the loss of most of the share prices traded on Sunday, the first day of the week. 366 companies participated in the transaction, against the loss, the share price of 18 increased and 14 traded at the previous rate.

On August 11, the general index of the Dhaka Stock Exchange, DSEX, rose by 300 points, but at the end of the day, the transaction ended with an increase of 91 points. Shares worth 2 thousand crore rupees changed hands that day.

The euphoria of increasing the index by 786 points in the first four working days started to decline from the next working day. A number of big cap companies like Grameenphone, Robi, British American Tobacco and the banking and financial sector jumped in share prices, but later when their prices fell slightly, the index also started to fall. In addition, the shares of other companies also decreased or fell to the previous position.

In the meantime, the prices of Beximco Pharma and Shinepukur Ceramics, two companies of Salman F. Rahman, the adviser on private industry and investment affairs of the ousted Awami League government, are not stopping. Beximco sukuk bond prices are also falling.

The price of Shinepukur Ceramics is continuously falling from 32 taka 20 paisa last August 8. The last transaction on Sunday was 24 taka 20 paisa. In the last six working days, the share price fell by 8 taka or 24.84 percent.

Similarly, the share price of Beximco sukuk bonds also fell. At the same time, the unit price decreased from 74 taka 50 paisa to last traded at 57 taka 50 paisa. In six days, the price per unit decreased by 17 taka or 22.81 percent. Another company Beximco Limited managed to maintain its share price due to the floor price.

Share swaps started with a rise at the beginning of the day, but as time went on, the share prices of other companies traded also fell, which continued till the end of the day.

Saiful Islam, president of DSE Brokers Association of Bangladesh (DBA), does not consider the price fall of the last few days and the continuous big rise in the days after the fall of the government as 'normal' transactions.

He told bdnews24.com, “In the first few days, the increase in the index and transactions was not normal. After the fall of the government, many thought that the share price of some companies would rise. That tendency bought more. Now it has gone to price revision.”

He commented, “It will take some more time to understand how the time market works under the new government.”

DSE's main index along with other two indices also fell slightly from the previous day. Shariah index DSES decreased by 24 points to 1 thousand 240 points and DS30 index decreased by 52 points to 2 thousand 126 points.

Daffodil Computers, Prime Finance First Mutual Fund and Wimax Electrode Limited were the first three companies to rise to the top of the price increase on the DSE.

On the other hand, the three top losers are Meghna Petroleum, Alif Industries and Legacy Footwear.

Source: BDNews.

Bangladesh /MP