The stock market of the country is not able to get out of the downward trend. As the days go by, the stock market is sinking into the abyss. Investors are losing capital every day. As a result, the moaning is increasing. In continuation of the previous working day, the fourth working day of the week on Wednesday (May 29) also saw a drop in the share market. In Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), most of the companies’ shares and unit prices have decreased along with all the price indices. Along with this, the volume of transactions has also decreased in DSE.
The main index of the Dhaka Stock Exchange, the DSEX, returned to its previous position three years ago. The index is now at a 37-month low. Along with this, DSE witnessed the lowest transaction in four months.
A section of investors has sought the direct intervention of Prime Minister Sheikh Hasina to overcome the stock market slump. This intervention was sought by holding a press conference under the banner of an organization called ‘Capital Market Investors Jatiya Oikya Foundation’.
President of the organization. Ruhul Amin Akand said that investors are constantly losing their capital and many investors have already invested in the stock market and are sitting on the road.
Meanwhile, the Dhaka Stock Exchange has requested not to impose new tax burden on the stock market, citing that the country’s stock market is currently in transition. Therefore, the company has demanded not to impose capital gain tax in the budget of the next financial year (2024-25).
A market review shows that after 10 consecutive working days of price decline, the stock market of the country showed some upside on Monday. However, on the next working day, Tuesday, the share market fell again.
In this situation, trading in the stock market started on Wednesday by reducing the prices of shares and units of most companies. As a result, the index becomes negative at the beginning of trading. At the end of 10 minutes of trading, the index was slightly higher, but it did not last more than 5 minutes. Rather, as the trading time rolled on, the price drop only increased.
In addition to the decrease in the share and unit prices of most of the companies, there has been a big fall in all the price indices. At the end of the day’s trading, the shares and units of only 64 companies entered the list of price increase in DSE. On the contrary, the price of 286 companies decreased. And the price of 44 remains unchanged.
As a result, the main price index of DSE, DSEX, fell by 50 points to 5,228 points. Among the other two indices, the DSE Shariah index fell by 13 points to 1,138 points compared to the previous day. And the DSE-30 index consisting of 30 well-chosen companies has fallen by 16 points to 1,869 points compared to the previous day.
Along with the fall in all indices, the volume of transactions on the DSE also fell. 306 Crore 67 Lakh Tk was transacted in the market throughout the day. 440 crores and 72 lakhs were traded on the previous working day. Accordingly, the transaction decreased by 134 crore 5 lakh taka. Transactions not only decreased compared to the previous day, but the transaction was the lowest since January 3 this year.
Shares of Alif Industries were the most traded in terms of Rs. The shares of the company have been traded for 14 crores and 1 lakh rupees. Shares of Beach Hatchery, ranked second, traded at Tk 10 crore 53 lakh. Orion Pharma is in the third position with a share transaction of Tk 9 crore 83 lakh.
Besides, the list of top ten companies in terms of transactions on DSE includes – Orion Infusion, Lavello Ice Cream, Captic Grameen Bank Growth Fund, IFIC Bank, Rupali Life Insurance, Sea Pearl Beach Resort and Best Holding.
Another stock market Chittagong Stock Exchange (CSE) overall price index CASPI decreased by 155 points. 37 of the 222 institutions that participated in the market rose in price. On the contrary, the prices of 167 have decreased and the prices of 18 have remained unchanged. The transaction was 7 crore 83 lakh taka. 170 crore 4 lakh taka was traded on the previous day.
MAS/MIHS/ASM
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