stock market
Stock market sees upward momentum: Tk 192cr traded in first hour today
The Dhaka Stock Exchange (DSE), the nation’s premier capital market, experienced an upward trend during the first hour of trading on Tuesday, with transactions totaling Tk 192 crore by 11 am.
According to DSE data, 5.51 crore shares and mutual fund units were exchanged through 56,675 transactions during this period. The market recorded participation from 393 companies, of which 223 saw a rise in share prices, 83 faced declines, and 76 remained unchanged.
Read: DSE index rises by 67.57 points amid upward stock price trend
The main index, DSEX, gained 20.98 points, reaching 5,354.41 points, reflecting investor optimism. The DSES Shariah Index, which tracks Shariah-compliant stocks, rose by 2.43 points to 1,197.73 points, while the DS30 Index, comprising blue-chip stocks, climbed 8.29 points to 1,985.74.
1 week ago
DSE indexes see positive turn after four days of decline
The Dhaka Stock Exchange (DSE), Bangladesh’s primary capital market, experienced an upward trend in the first hour of trading on Tuesday, following four consecutive days of losses.
Data from the DSE shows that 3.95 crore shares and units were exchanged across 36,864 transactions, amounting to a turnover of Tk 86.65 crore within the first hour.
Of the 377 companies that participated in trading, 261 saw price increases, 85 experienced declines, and 31 remained unchanged.
DSE suffers sharp decline, investors demand action as millions lost
Key indexes reflected this positive shift: the main DSEX index rose by 45.25 points, reaching 4,943.79, while the DSES Shariah index gained 7.62 points to 1,095.08. The DS30, a special blue-chip index, also increased by 23.9 points to 1,829.79 in the initial hour of trading.
3 weeks ago
Stock market slumps as DSEX hits 3-month low, most companies see price drops
Stocks in Dhaka saw a sharp decline last week, with the DSEX falling below 5,300 for the first time in three months as anxious investors sold off to prevent further portfolio losses.
The market remained dominated by sellers throughout the week, extending its losing streak for the fourth consecutive week.
The market started the week in free fall, hitting session lows across all four days as retail investors, in particular, engaged in panic selling.
The main index of the Dhaka Stock Exchange (DSE), DSEX, finally settled at 5,258, down over 164 points or 3.03 percent from the previous week. The DSEX has lost 476 points in the last four weeks.
Read more: Small investors’ woes in stock market not over yet
Investors concerned continued to shed their holdings after noting that heavy-weight issues, including mutational companies, continued to fall in the past few weeks, putting further pressure on indices.
Investors preferred to trim their equity exposures and adopted a wait-and-see approach amid uncertainties surrounding earnings declarations for June-ending companies.
Macroeconomic and regulatory uncertainties also acted as negative catalysts that ignited the selling spree, allowing the bears to retain control for a prolonged period.
DSEX, the broad index of the Dhaka Stock Exchange, lost 164.1 points, or 3.0 percent, to settle at 5,258 points. Investors' participation in the market continued to fall by 13.3 percent to TK 3,180 million as compared to TK 3,667 million in the previous week.
Read more: BSEC Chairman urges stakeholder cooperation for stock market reforms
Investors were primarily active in the banking sector (20.4%), followed by the pharmaceutical sector (16.5%) and the IT sector (11.3%). Sectors closed in the red, with the services sector (-8.8%) experiencing the largest decline.
Five large-cap stocks such Islami Bank, Brac Bank, British American Tobacco, Renata and Beacon Pharma together accounted for one-fourth of the index's decline during the week, according to EBL Securities.
This week, Tk 52 billion was wiped out from the market capitalization of the DSE, which now stands at Tk 6,691 billion. Over the past four consecutive weeks, the market capitalisation has declined by a total of Tk 242 billion.
The market capitalisation is calculated by multiplying a company’s total number of outstanding shares by its current market price.
Read more: Share Market Investment Guide: How to Invest in Stocks in Bangladesh
The blue-chip DS30 index, a group of 30 prominent companies, also lost 54 points to close at 1,930 while the DSES index, which represents Shariah-based companies, shed 32 points to 1,174.
1 month ago
Stock market: Downward trend for fourth consecutive day
The Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) continued their downward trend on Thursday, marking the fourth consecutive day of falling indices this week. Despite an uptick in trading volume at the DSE, most companies saw declines in share prices, with market indices across both exchanges experiencing significant drops.
At the DSE, trading volume increased to Tk 306.89 crore, up from Tk 296.34 crore on the previous day, reflecting a rise of Tk 10.55 crore. However, this boost in trading activity did little to offset the overall decline in stock values.
DSE faces downturn for second consecutive day as most company shares decline
The DSE's benchmark index, DSEX, dropped by 58.23 points, closing at 5257.97 points. Other indices followed suit, with the DSES (Shariah) index down by 8.74 points to 1174.13 points, and the DS-30 index, which tracks the top 30 leading companies, falling by 17.58 points to 1930.39 points.
Out of the 395 companies and mutual funds traded on the DSE, only 53 companies posted gains, while a substantial 293 companies saw their share prices fall, and 49 remained unchanged.
Meanwhile, trading activity at the CSE dipped on Thursday. The total value of shares traded fell by Tk 3.31 crore to Tk 4.64 crore, down from Tk 7.95 crore on the previous day. Similar to the DSE, all major indices at the CSE also experienced declines.
The CASPI index, the main index of the CSE, decreased by 150.83 points, closing at 14821.49 points, while the CSCX index dropped by 87.63 points to 9012.55 points. Other indices, including the CSE-50, CSI, and CSE-30, also showed declines of 8.22 points, 8.14 points, and 103.52 points, respectively.
On Thursday, shares of 218 companies and mutual funds were traded at the CSE. Of these, the share prices of 41 companies rose, while 156 companies posted losses, and 21 companies remained unchanged.
1 month ago
Small investors’ woes in stock market not over yet
Small investors in Bangladesh’s stock market remain trapped, with their woes persisting due to a lack of confidence, weak governance and economic instability, despite assurances from regulators of an eventual market rebound, according to experts.
“No one, not even the regulator or stock market authorities, pays heed to our screams,” said Saiful Islam, a grocery owner and one of the affected investors,” in a broken voice while talking to UNB regarding the capital market.
Saiful invested Tk 14 lakh in 2010 to buy shares of different companies listed in the Dhaka Stock Exchange (DSE).
Dhaka stocks drop in early trading today
After graduating in 2004, Saiful found no suitable job and then started a small business in the Motijheel area in 2007 with support from his father-in-law.
He made a good profit in the business and invested the money in the share market.
In 2010, Saiful invested around Tk 14 lakh, of which Tk 6 lakh was his own and Tk 8 lakh he borrowed from relatives. All of his investment was stuck in shares of different companies due to a major scam in the capital market in 2011.
Like Saiful, thousands of investors lost their hard-earned capital in 2011, and after that, some were able to regain part of their capital. However, most of them left the capital market, losing nearly all their investment.
Many such investors are still in the market, hoping for a rebound in the DSE, but without any good news.
DSEX drops by 43 points as prices of 288 companies fall, Chittagong Stock Exchange follows suit
There is no sign of lifting the floor price before the next election. However, economists say that people do not have confidence in the market. The BSEC advises investors to remain patient.
Analysts say that the small investors’ woes in the capital market are unlikely to end before the national election as their wait for a good time is prolonged by Bangladesh’s recent ‘instability’.
The small investors’ shares were once stuck at the floor price (minimum sale rate) due to the overall economic downturn. The floor price barrier ended after the change in government in Bangladesh.
However, the prices of most companies' shares have not increased to the desired level for small investors.
Dhaka Stock Exchange sees early week gains
This has been painful for many unfortunate small investors in the capital markets, according to market analysts.
Policymakers and the Bangladesh Securities and Exchange Commission (BSEC) paint a rosy picture for small investors, saying that the stock markets will rebound with the enlistment of new companies and the injection of large investments. However, the situation for small investors seems hopeless.
A large number of shareholders have been stuck with their investments in the capital market for over a decade amid fading hopes.
Experts' Analysis
Dr ABM Mirza Azizul Islam, an economist and former adviser of a caretaker government, told UNB that there has been a crisis of confidence among investors in the stock market for a long time.
“To this are added various economic crises, the international situation, and everything, including elections and national politics. As a result, first of all, steps should be taken to eliminate the trust crisis. In this case, trust should be ensured by establishing good governance,” he added.
Dhaka Stock Exchange slips below 5,400-point as Islami Bank shares plummet nearly 10%
“That means investors have to be assured that if someone steals their money through manipulation, they will be prosecuted. Besides, the supply of good shares should be increased. Through these two steps, it is possible to solve the market problem. But it is not easy at all,” said Dr Azizul Islam.
Dr Abu Ahmed, Chairman of the Investment Corporation of Bangladesh (ICB) and former professor of Dhaka University’s Economics Department, said there are two crises in the market: one on the demand side and the other in investor confidence.
On the supply side, he said, the problem is that there are fewer good companies. As a result, it is a win-win situation for manipulation and syndicates. “All in all, the stock market is currently in an unstable condition and the situation is gradually getting worse. The passage from here is very difficult,” he said.
Ahmed also noted that people are sometimes investing in weak shares with the expectation of a big profit, which is not the right way of investing due to a lack of financial literacy.
Read mnore: Share Market Investment Guide: How to Invest in Stocks in Bangladesh
1 month ago
Beximco's share manipulation: BSEC fines 9 investors Tk 428.52 crore
Bangladesh Securities and Exchange Commission (BSEC) has fined 9 investors Tk 428.52 crore for manipulating the shares of Bangladesh Export Import Company Limited (Beximco) listed in the stock market.
The BSEC decided to impose this fine in the commission meeting held on Tuesday chaired by BSEC Chairman Khondoker Rashed Maqsood.
Such a large amount of money has never been fined in the history of the country's stock market for manipulating the shares of a company, stock market stakeholders said.
BSEC instructs DSE to investigate unusual price surge of Islami Bank shares
Among them, Marzana Rahman was fined Tk30 crore, Trade Next International Tk4.1 crore, Mushfiqur Rahman Tk125 crore, Mumtazur Rahman Tk58 crore, Jupiter Business Tk22.50 crore, Apollo Trading Tk15.1 crore, ART International Tk70 crore, Abdur Rauf Tk31 crore and Crescent Limited was fined Tk 73 crore.
Meanwhile, the commission meeting decided to inspect the use of IPO/RPO’s funds of 9 companies.
The nine companies include- Bangladesh Shipping Corporation, Best holding, Index Agro, JMI Hospital Requisite Manufacturing, Lub-rref (Bangladesh) Limited, Navana Pharmaceuticals, Ring Shine Textiles, Sikder Insurance and Silva Pharmaceuticals.
1 month ago
DSE launches new data center for uninterrupted transactions on stock market
Dhaka Stock Exchange (DSE), the main stock market of Bangladesh on Sunday launched a new data center to ensure automated and uninterrupted transactions.
The DSE authorities have claimed it is a state-of-the-art data center with 106 racks, a press release said.
Stock exchanges should allow more access for vetting IPOs, said DSE Managing Director
The data center has already achieved ANSI/TIA-942, Rated-3 (Design and Construction) international standard certification, DSE said.
Rated-3 data centers have multiple paths to keep power, cooling, and other systems updated and running without taking them offline. As a result, equipment/devices can be removed/replaced/maintained on a planned basis without disrupting application operations, said the DSE.
DSE gets new managing director
On November 12, the DSE announced that trading activities have been launched from the new data center at DSE Tower in Nikunja. It further stated that trading activities are being conducted successfully through the new data center since its commissioning.
According to DSE, the new data center has been equipped with state-of-the-art servers, network components, storage, and electrical equipment. By launching this state-of-the-art data center, DSE has ensured a highly reliable and modern trading platform for the benefit of investors and all stakeholders.
DSE, BGMEA join forces to support RMG enterprises in capital market
DSE Chairman Professor Dr. Hafiz Muhammad Hasan Babu, Director Rubaba Daula, Managing Director Dr. ATM Tariquzzaman, Chief Operating Officer M. Saifur Rahman Majumder, Acting Chief Technology Officer Tariqul Islam, among others, were present in the opening transaction ceremony.
1 year ago
Small investors’ woes in capital market unlikely to end before national polls: Analysts
Small investors in the stock market are frustrated as their wait for a good time gets delayed by the Bangladesh’s ongoing political unrest.
The political impasse over who should oversee the upcoming national polls is thwarting the stock market’s recovery from Covid-19 pandemic and the Ukraine-Russia war.
The small investors’ shares are stuck on the floor price (minimum sale rate) and overall economic downfall. This has been painful for many unfortunate small investors of the capital markets, according to market analysts.
Policymakers and the Bangladesh Securities and Exchange Commission (BSEC) paint a rosy picture for small investors saying that stock markets will rebound with enlistment of new companies and injection of big investments. But the situation for the small investors seems to be hopeless.
Read: Economy buffeted by political unrest amid declining forex reserves: Analysts
A large number of shareholders have remained stuck with their investment in the capital market for over a decade amid fading hopes.
“No one, not even the regulator or stock market authorities pay heed to their screams,” Abdul Latif, a grocery owner and one of the affected investors, told UNB in a broken voice. He said he invested Tk13 lakh in 2011 to buy shares of different companies listed in Dhaka Stock Exchange (DSE).
After graduation in 1998 Latif found no suitable job and then started a small business in the Motjheel area in 2002 with support from his father-in-law. He made a good profit in the business and invested money in the share market.
In 2010 Latif invested around Tk13 lakh of which 5 lakh was his own and 8 lakh borrowed from relatives. All of his investment was stuck in shares of different companies due to a big scam in the capital market in 2011.
Read: Govt aims to collect 11.2% of GDP in taxes by FY 2025-26
Like Latif, thousands of investors lost their hard-earned capital in 2011, and after that, some were able to gain part of the capita. But most of them left the capital market losing nearly all investment.
Many of such investors are still in the market hoping for a rebound in the DSE, but without any good news.
There is no sign of lifting the floor price before the next election. However, economists say that people do not have confidence in the market. BSEC advises investors to be patient until the general election is held by January next.
Dr ABM Mirza Azizul Islam, an economist and a former adviser of a caretaker government, told UNB that there has been a crisis in investors' confidence in the stock market for a long time.
“To this are added various economic crises, the international situation, and everything including elections and national politics,” he said.
Read: Despite challenges, govt hoping to restore economy’s pre-Covid momentum in current fiscal
As a result, first of all, steps should be taken to eliminate the trust crisis. In this case, trust should be ensured by establishing good governance, he said.
That is, the investors have to be given the assurance that if someone steals their money through manipulation, they will be prosecuted. Besides, the supply of good shares should be increased. Through these two steps, it is possible to eliminate the market problem. But it is not easy at all, said Dr Azizul Islam.
Dr Abu Ahmed, former professor of Dhaka University’s Economics Department, said there are two crises in the market: one on the demand side and the other in investor confidence.
On the supply side, the problem is that there are fewer good companies. As a result, it is a win-win situation for manipulation and syndicates, he said.
Read: Country’s first electrical testing laboratory on the cards
All in all, the stock market is currently in an unstable condition and gradually the situation is getting worse. The passage from here is very difficult, he said.
According to market insiders, the stock market situation is in a dire. The situation is not improving due to political uncertainty ahead of national elections, increases in commodity prices, and various international issues.
The market has lost its importance to the government as well. For those who are not directly involved with government policymakers, the stock market is a source of irritation.
Their thinking is like this - if there is no stock market, there will be no problem in the country. For these reasons, the government wants to hold the market with floor prices until the next national election. This brings an opportunity for syndicates blessed by the regulatory body to be controlling the market, the market insiders said. They spoke on condition of anonymity.
BSEC Chairman Professor Shibli Rubayat Ul Islam told UNB in this regard that the global situation is not in the hands of the regulator or the government. Investors should beware of investing with any company depending on rumours.
He also said due to a lack of financial literacy, people are sometimes investing in weak shares with an expectation of big profit which is not the right way of investment.
Read: BSEC sits with stock market stakeholders Thursday after drastic fall of share prices
1 year ago
Stock market gained over Tk 10,185 crore capital last week
The stock market has passed the 4th week of the current month with a capital gain of Tk 10,185 crore in four days, data analysis of the capital market has revealed.
The capital of Dhaka Stock Exchange (DSE) was Tk 7.56 lakh crore at the beginning of trading on the first working day of last week. On the last day, after transaction on Thursday (January 26, 2023), the capital stood at Tk 7.67 lakh crores.
In other words, the capital has increased by Tk 10185 crore. It increased by Tk 2149 crore in the previous week. The investors' capital increased in the market for two consecutive weeks.
In the past week (January 22 to 26), trading was done on five working days. The first trading day marked a fall in the index, followed by four consecutive trading days during which the index rose from Monday to Thursday.
Also Read: BSEC forms Shariah Advisory Council for stock market
During this period, a total of 387 shares and units were traded in DSE. Among them, 63 companies' share prices increased, those of 119 decreased and 205 unchanged.
Among the companies traded in the previous week, 114 rose, 68 fell and 205 remained unchanged. The number of companies reducing prices has increased compared to the previous week.
However, the main index of DSE increased by 30 points from the previous week to 6,296 points in the outgoing week as the share prices of several companies increased.
Among the other two indexes of DSE, the DSES index increased by 6 points to 1,374 points and the DS-30 index increased by 22 points to 2,230 points from the previous week.
Read More: ‘Greed for short-term gains ruining investors’ confidence in stock markets’
Although the index has increased, the volume of transactions has decreased. In the last week, the total transaction in DSE was Tk 3050 crores, which was traded in the previous week for Tk 3850 crore. That is, Tk 800 crore worth of transactions have decreased; as a percentage it has decreased by 20.78 percent.
The Chittagong Stock Exchange (CSE), another capital market of the country, was also traded in the same condition.
In the last week, the overall index of CSE increased by 89 points to 18565 points. Tk 63.19 crores were traded during this time, which was traded in the previous week for Tk 104.55 crore.
Among the traded companies, the share prices of 61 companies increased, 83 decreased and 134 remained unchanged.
Read More: Finance minister directs regulators to boost investment in stock market
1 year ago
‘Greed for short-term gains ruining investors’ confidence in stock markets’
BSEC Member Abdul Halim said on Monday that the stock exchange regulator was working to punish any willful wrongdoing for short-term gains by brokerage houses, which are injecting distrust among the investors.
He said that many small investors have been affected by two incidents in stock markets in 1996 and 2010. Since then, rules and regulations have been reformed, and punitive action has been taken, he said, adding that the Bangladesh Securities and Exchange Commission (BSEC) has been working to gain the investors’ confidence back.
“Despite such effort, some malpractices remain among the brokerage houses as they are committing suicidal activities for short-term gains,” he said..
Halim made the statement while he spoke at a virtual discussion on the share market on Monday as part of the observance of the World Investor Week.
The BSEC commissioner gave an example, saying that in 2015 the DSE team visited a brokerage house and found irregularities. The Board of Directors of the company had gaven loans to their relatives, officers and employees, violating rules.
“It gave margin loans to purchase 'Z' category shares, and those who do not have money in the code got the opportunity to buy shares. They also gave loans to those people who did not have a contract with their brokerage house,” Halim said.
“They (owners of the brokerage house) thought we didn't know much about law,” he said.
Read: Takes 6-12 months to identify a share market manipulator in existing system: BSEC Chairman
After discovering faults, they said that it was a mistake, he said, adding that they want another chance to correct them.
But, he said, many other brokerage houses have also been committing similar ‘mistakes’.
He said some houses even bought and sold shares before depositing the cheques of the investors.
“Share trading has been done through different accounts of the same person just for increasing commission,” he said.
He said some brokerage houses even mortgaged the customer's money in the bank and loans have been taken against it.
Such houses provide false information to investors while they even do not care about giving incorrect information to regulators.
He warned that the people who deal with technology should also be honest.
According to the World Bank's 2021 report, the contribution of the country's capital market to the GDP is 27 per cent, and the size of our GDP is a little more than $416 billion. The GDP is expected to cross $600 billion by 2025 if the trend of growth continues, the projection said.
The capital market will be a sector worth $300 billion or Tk30 lakh crore by then if things are on the right track, it said.
DSE Chairman Yunusur Rahman presided over the discussion while Acting Managing Director of DSE Saifur Rahman Majumder moderated the program.
2 years ago