In the stock market, which has been falling continuously, the index rose for two consecutive working days, but on the third day, the rhythm fell.
The index traded in ups and downs on Wednesday, but the index fell in the last hour. Until then, it seemed that for the third day in a row, the index cell might end the trade with points added.
After reading 48 consecutive business days, two companies were seen to emerge in the top ten price hikes on the day. One more company makes the top ten, with its share price rising just one more day in the past 48 business days. Another company’s price has fallen by 44 business days during this period; The remaining four days traded at the same rate, and four days saw not a single share change hands. Another company’s shares rose for a second day in a row, but ultimately did not stop falling.
Morning trading begins with the index rising. At 11:45 am, the general index of the Dhaka Stock Exchange, DSEX, was 18 points higher than the previous day. After that, it was trading with 16 points increase at 12:50 PM.
The index continued to decline thereafter. At 1:38 PM, it was 9 points higher than the previous day. In the remaining 42 minutes, selling pressure fell. At this time, losing 11 points, the transaction ended two points lower than the previous day.
At one point, the share price of more than a hundred companies was being traded. In the end, the share price of 68 companies increased, 80 decreased. 182 companies traded hands in the previous day, almost all of them at floor prices.
Not a single share of 60 companies was exchanged on that day. These companies are also at floor price.
Although the index fell, transactions increased slightly. Shares of Tk 452 crore 40 lakh 20 thousand have changed hands. Which was 420 crore 66 lakh 37 thousand taka the previous day.
This transaction is the highest in the last 12 working days. Earlier, on February 12, shares worth 470 crore 84 lakh 80 thousand rupees were exchanged in DSE.
Desperation spread among investors in the capital market throughout the month of February. The data of 50 points drop in the index in 19 working days cannot be understood how much the investors have suffered financial loss.
A number of companies that have given up the ‘floor’ have lost a percentage point or closer to the floor price, with most companies’ shares falling below their pegged minimums or ‘floor prices’.
Almost every day there are no buyers of a hundred or more shares of a company. In this situation, the capital market is relying on some companies with small capital. If the price of these companies increases, the index increases, if it decreases, it decreases.
Till February 8, the prices of these companies were upward. Then some lose 20 percent, some 25 percent, some more. However, since the number of shares is less, the index is hardly affected.
Rumors spread during this time that all companies would be given a ‘floor price’. Rumors spread widely last Sunday. It wanted to sell the shares at a low price but could not find a buyer. The transaction came down to two hundred crore rupees.
But that day the ‘message’ came from the regulatory agency BSEC. When asked by bdnews24.com, the spokesperson of the organization, Rezaul Karim, said that there was no discussion about giving up the floor price.
After two business days, the shares of small capitalization companies returned to the rise. However, the fall of the ‘one percent’ did not stop. Meanwhile, BSEC Chairman Shibli Rubaiyat-ul Islam said in an event in the capital on Tuesday that the ‘floor price’ will remain in place. And in March, there will be good news for the capital market.
Stating that the banks will declare dividends during this period, he said, he is hoping for ‘good’ dividends. It will increase the liquidity in the capital market.
But the ‘good news’ is another. He said that Bangladesh Bank will take a positive decision to keep the investment in bonds outside the bank’s investment limit or exposure limit. It will increase the ability of the bank to invest. The index increased by 34 points in the last two days on the news of that good news.