After lifting the floor price, the country’s stock market is showing signs of recovery. Along with the continuous price increase, the transaction speed has also increased. In the last five trading days, the price has increased. At the same time, more companies have written their names on the price hike list. In this, the market capitalization of the main stock market Dhaka Stock Exchange (DSE) has increased to over 16 thousand crore rupees in one week.
The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has imposed a floor price on shares in several rounds in the last four years due to the continuous fall in the stock market due to various issues. The floor price was first imposed in March 2020 but was withdrawn in July 2021.
Then BSEC imposed floor price again in July 2022 due to Russia-Ukraine war. At this stage, if the share trading is greatly reduced, the regulatory body will be criticized. Recently, when there was a storm of criticism about the floor price, the floor price was lifted from all but 35 institutions in the first phase on January 18.
After that, the floor price was lifted from 23 more companies on January 21 when there was a positive impact on the stock market. Later, on February 6, the floor price was withdrawn from three more institutions. At the same time, it was informed about the time of lifting the floor price from three other institutions.
After lifting the floor price in the first round, there was a major negative impact on the stock market. However, the stock market has gradually come out of that decline and is now in a continuous upward trend. The price has increased in five working days of the last week. At the same time, transactions have increased continuously.
It had the highest trading volume in 17 months over multiple business days last week. At the same time, DSE’s main index rose to a 15-month high. DSE’s main index rose more than 2.5 percent in a single week. Market capitalization rose over 2 percent. And average daily transactions have increased by more than 84 percent.
Over the past week, shares and units of 340 companies participating in trading on the DSE have entered the list of price increases. On the contrary, the price of 38 has decreased. And the price of 18 remains unchanged.
The market capitalization of DSE stood at Tk 7 lakh 72 thousand 526 crore at the end of the last working day of the week with most of the companies increasing their prices. Which was 7 lakh 56 thousand 107 crore on the last working day of last week. That is, the market capitalization of DSE has increased by 16 thousand 419 crores or 2.17 percent during the week.
DSE’s main index DSEX rose by 159.36 points or 2.56 percent. The index rose 57.58 points or 0.94 percent in the previous week. The DSE-30 index, which is made up of selected good companies, rose alongside the main value index. This index increased by 21.45 points or 1.01 percent over the past week. The index rose by 0.10 percent or 2.17 points in the previous week.
In addition, the DSE Shariah index, which consists of companies managed on the basis of Islamic Shariah, increased by 24.39 points or 1.79 percent last week. The index rose 10.64 points or 0.79 percent in the previous week.
Along with all the price increases, the transaction speed has also increased quite a bit. An average of Tk 1,695,400,000 was traded on DSE every working day of the week. In the previous week, the daily average transaction was Tk 916 crore 95 lakh. That is, the average transaction per working day has increased by 778 crore 9 lakh taka or 84.86 percent.
During the week, the total transaction in DSE was Tk 8 thousand 475 crore 20 lakhs. The total transaction in the previous week was 4 thousand 584 crore 74 lakh taka. Accordingly, the total transaction has increased by 3 thousand 890 crore 46 lakh taka or 84.86 percent.
Orion Infusion shares were the most traded shares on DSE in terms of rupees during the week. The company’s shares have been traded at Tk 247 crore 70 lakh, which is 2.92 percent of the total trade. The shares of Fu-Wang Food, which is in the second place, were traded at Tk. 246 crore 34 lakhs. BD Thai Aluminum is in the third place with a transaction of Tk 230 crore 10 lakh.
Apart from this, the list of top ten companies in transactions includes – Khulna Printing and Packaging, Central Pharmaceuticals, IFIC Bank, Olympic Accessories, Fortune Suze, Malek Spinning and Evens Textiles.
MAS/KSR/ASM
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