The country’s stock market is showing signs of coming out of the cycle of continuous price decline. On the last working day of the week, the main stock market Dhaka Stock Exchange (DSE) and the other stock market Chittagong Stock Exchange (CSE) saw an increase in the prices of shares and units of most companies as the pressure of investors to sell shares eased. It has increased in value. Along with that, the volume of transactions in DSE has also increased. Through this, the stock market remained upward for two consecutive working days.
Stock market people say that the share and unit prices of most of the companies have decreased a lot due to the continuous fall in prices. As Eid is approaching, the pressure of selling shares in the market has reduced. However, investors’ confidence in the market has not yet fully returned. So it cannot be said that the market has turned around based on two days of upside.
They say that there will be two more business days of trading in the stock market before Eid. Generally, there is less selling pressure in the stock market in the last few working days before Eid. Because those who sell shares for Eid expenses, usually sell more shares in the middle of fasting. As a result, the selling pressure is high at that time and the market prices fall. The same has happened this time too.
A review of the market shows that out of the four trading days last week, the share market fell in the first three working days. However, the price increases slightly on the last working day of the week. On the first working day of this week, upward trend can also be seen. However, on the second working day, Monday and the third working day, Tuesday, there is a big fall again. With that, the transaction decreased to 300 crore rupees. But on Wednesday, the price increases again.
In this situation, on Thursday, the last working day of the week, trading in the stock market started by increasing the price of shares and units of most companies. As a result, the upward movement of the index can be seen at the beginning of the transaction. This upward trend continued until the end of the session. At the end of the day’s trading, 222 companies have entered the list of price hikes in DSE. On the contrary, the price of 113 companies decreased. And the price of 62 remains unchanged.
DSE’s main index DSEX increased by 20 points to 5,796 points as most of the companies increased their prices. The DSE-30 index, which consists of 30 companies, has increased by 79 points compared to the previous day and stands at 2 thousand 14 points. And the DSE Shariah index rose by 9 points to 1,266 points compared to the previous day.
Several members of DSE said there was more pressure to sell Eid-centric stocks last week and early this week. As a result, the average price of most companies across all sectors has decreased. The pressure to sell shares has eased a bit. Along with that, buyers have also returned to the market. However, the rate at which the share market has fallen recently has shaken the confidence of investors. That confidence cannot be regained through a two-day uptrend.
They said, two more working days before Eid will be traded in the stock market. If the market is bullish during these two working days and if the market is bullish for a week after Eid, investors’ confidence will start to return again. And if this is the exception, then it will be difficult to restore the confidence of investors in the market.
Shakil Rizvi, director of DSE, said that the share prices of many companies have decreased a lot recently due to the fall in prices. Again, the pressure of selling Eid-centric shares has also reduced. As the selling pressure eases, the market is showing an upward trend.
He said to the investors, they should not invest in the stock market based on rumours. Investors should carefully review the overall information before investing. If you know the right information and invest in good companies, it is possible to make good profits in the stock market.
Along with the increase in all indices, the volume of transactions on DSE also increased. 436 crore 75 rupees were traded in DSE. 433 crore 96 rupees were traded on the previous working day. Accordingly, the transaction has increased by 2 crore 79 lakh taka.
Shares of Malek Spinning contributed the most in this transaction. Shares of the company have been traded worth Tk 20 crores and 34 lakhs. Shares of Shahinpukur Ceramics in the second place were traded worth 18.48 million rupees. Alif Industries is in the third position with a share transaction of Tk 17.56 crore.
Besides, the list of top ten companies in terms of transactions on DSE includes- Central Pharmaceuticals, Lavello Ice Cream, Asiatic Laboratories, Orion Infusion, Fu-Wang Ceramics, Golden Son and Maxon Spinning.
Another stock market Chittagong Stock Exchange (CSE) overall value CASPI increased by 84 points. 97 of the 191 institutions that participated in the market rose in price. In contrast, the prices of 65 decreased and 29 remained unchanged. 14 crores and 7 lakhs have been transacted. 9 crore 59 lakh was traded the previous day.
MAS/MRM/GKS
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