Chittagong Stock Exchange
DSE index declines while CSE sees gains in first hour
The Dhaka Stock Exchange (DSE) witnessed a decline in all its indices during the first hour of trading, whereas the Chittagong Stock Exchange (CSE) recorded a slight gain.
But share prices of most companies fell across both markets.
DSE Performance
In the first hour of trading, the DSE’s benchmark index, DSEX, dropped by 11 points. Among the other indices, the Shariah-based DSES declined by 6 points, while the blue-chip DS30 fell by 3 points.
Read: Stock Market Slump: DSEX index falls by 40 points in three days
The DSE recorded a total turnover of Tk 76 crore during this period. Out of the traded stocks, 117 companies saw their share prices increase, while 151 declined, and 99 remained unchanged.
CSE Performance
Conversely, the CSE's overall index rose by 5 points in the first hour of trading.
At the CSE, the share prices of 19 companies increased, while 24 declined, and 6 remained unchanged. The total turnover stood at Tk 55 lakh.
Despite the mixed performance in indices, the broader market sentiment remained cautious as investors assessed market trends.
1 week ago
CSE extends trading hours, faces opposition from brokers’ association
Chittagong Stock Exchange (CSE) has announced an extension of its trading hours by 45 minutes with effect from January 26, a decision that has drawn criticism from the DSE Brokers’ Association (DBA).
In a recent notice sent to brokerage houses, CSE said that trading will start at 9:30 am instead of 10:00 am and conclude at 2:35 pm instead of 2:20 pm.
But this adjustment has faced severe opposition from the DBA, which described the move as "highly unconventional and poorly thought out" for a nation functioning under a single time zone.
In a press release issued on Wednesday, the DBA highlighted that both the Dhaka Stock Exchange (DSE) and the CSE facilitate trading of the same securities.
DSE sees sharp fall as most stocks suffer price drops
The synchronisation of trading hours across both exchanges enables investors to evaluate market conditions and execute trades at competitive prices. The DBA argued that the proposed change would create inequity among investors.
Noting that CSE’s trading volume accounts for only about 5% of the national market, the DBA expressed concerns over the limited participation of brokers at CSE, which could disrupt price discovery during early trading hours.
Besides, the DBA warned that separate trading schedules for the two exchanges could lead to operational disruptions, particularly for firms holding dual memberships.
Such a scenario, it said, would foster disorganisation within brokerage houses and adversely impact investor confidence and overall market management.
In its defence, CSE justified the decision as a step towards enhancing liquidity and offering greater flexibility to investors.
Despite the time change at CSE, the DSE has confirmed that its trading hours will remain unchanged.
The decision has triggered a debate within the financial community, raising questions about its potential impact on market dynamics and investor behaviour.
2 weeks ago
Capital market to follow banking sector's ‘lead’ in operating during lockdown
The capital market will continue its operation in the interest of investors in any situation during the Covid-19 pandemic if the banking activities continue.
The Bangladesh Securities and Exchange Commission (BSEC) said this against the backdrop of the government’s preparation for imposing full lockdown from April 14 next.
A notice posted on the official website of the BSEC said: "[The] capital market will continue operation at [in] the interest of investors in any situation during the pandemic of Covid-19 if the banking activities continue."
Also read: Stock market reforms to fail if rumours rule the roost: Minister
It said all the transactions in the capital market will continue in the interest of investors and urged the investors not to pay heed to any rumor.
According to sources at the BSEC, if the banks remain open during the lockdown, the capital market will also remain open. This instruction has been given to two stock exchanges -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
Also read: BSEC to help boost startup, venture capital ecosystem: Chairman
They said the commission has instructed the DSE to keep the capital market open if banks are open. The capital market will operate utilising smaller shifts and work-from-home facilities.
Earlier, from March 26 to May 31 last year, transactions in the capital market were closed due to the outbreak of Coronavirus pandemic.
Also read: Insider trading: BSEC probes Dominage Steel for 'unusual' stock movement
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5 years ago