The index fell for the third day in a row in Bangladesh's two capital markets.
On Tuesday, the main index of the Dhaka Stock Exchange (DSE) DSEX fell by 35.10 points or 63 percent to 5,584.69 points. On the last day of last week, January 26, the DSEX was at 5,624 points. Since then, the index has declined in three working days of the current week. With this, the main index of DSE has lost 160 points in the last three days.
After a long drought, the stock market recovered earlier this year. The index rose to 5,909 points on January 14. As a result, the index has decreased by 345 points in the last 13 working days.
Asked about the reason for the fall, Ahmed Rashid Lali, former president of the DSE Brokerage Association of Bangladesh (DBA), told bdnews24.com: "Many stocks have risen for a long time. Now the share price is being revised. ”
Trading in Dhaka's capital market also declined on Tuesday. A total of Tk 602.93 crore shares were traded on this day, which was Tk 617.22 crore on Monday.
Shares worth Tk 2,365 crore were traded in the Dhaka capital market on January 16 after the market recovered. In the next 13 working days it has come down to one third.
Ahmed Rashid Lali told bdnews24.com that the decline in transactions was due to three reasons. First, a new IPO, second, a fall in share prices, and third, no long-term investment.
Explaining the matter, he said, “One IPO after another is coming. People are applying for IPO. Another IPO is coming before the money from one IPO is returned to the investors' BO account, but the previous money is stuck. Thus some money is stuck.
Besides, when the share price goes down, those who bought shares at a higher price also get stuck. Then they can't sell, so the transaction goes down.
“Another reason is that now everyone wants a quick return. They sell the shares whenever the share price goes up. ”
Shares of 355 companies and mutual fund units changed hands on the DSE on Tuesday. Of these, 90 have increased, 147 have decreased and 118 have remained unchanged.
On the other hand, the main index CASPI of the Chittagong Stock Exchange (CSE) has decreased by 99.06 points or 61% to 16,198 points.
Shares worth Tk 100.69 crore were traded at the CSE on Thursday, up from Tk 26.59 crore on the previous day.
Of the 240 stocks and mutual fund units traded in the market, 61 rose, 105 declined and 64 remained unchanged.