Stock market falls for seven consecutive days, turnover falls to Tk 3 billion

Economic Desk

The country’s capital market is reeling from a continuous decline in prices. Along with the decline in the index for seven working days, trading has also declined significantly. The main price index has fallen to its lowest level in four months, and trading has fallen to the 3 billion mark.

On the second working day of the week, Monday (November 10), most share and unit prices on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) fell. As a result, all indices fell, which further prolonged the market’s continuous decline.

Although there was some optimism at the beginning of the trading session, it quickly faded. Although the index rose in the first ten minutes, selling pressure increased within a short time and most of the shares of the companies one by one went down. Although there was some recovery towards noon, the market turned sideways again in the last hour.

At the end of the day, the share and unit prices of only 70 companies on the DSE increased, while 275 decreased and 41 remained unchanged.

According to the type of dividend, 43 of the good companies paying 10 percent or more dividends saw their share prices increase, while 144 fell. Among the medium-quality companies (dividends below 10 percent), 16 rose and 52 fell. And among the ‘Z’ group, 11 companies rose and 79 fell.

The DSE’s main index, DSEX, fell 39 points to 4,860 points—the lowest since June 30. The DSE Shariah Index fell 11 points to 1,010 points and the DSE-30 Index fell 18 points to 1,910 points.

The trading volume has also decreased significantly. On Monday, the DSE recorded a trading volume of Tk 356.33 crore, compared to Tk 402.20 crore the previous day. This means that the trading volume in one day has decreased by about Tk 460 crore, which is the lowest in the last 13 working days.

The highest turnover was recorded in shares of Anwar Galvanizing — Tk 21.45 crore. It was followed by Orion Infusion (Tk 19.43 crore) and Cimit Alliance Port (Tk 14.26 crore). The top traded stocks also included Domination Steel Building, Square Pharmaceuticals, Monospool Paper, Bangladesh Shipping Corporation, Khan Brothers PP Oven Bags, Power Grid and Runner Automobile.

On the other hand, the CASPI index of the Chittagong Stock Exchange fell by 140 points. The CSE recorded a turnover of Tk 145.1 crore, which is much lower than the Tk 224.6 crore of the previous working day. Of the 173 companies participating in the market, 37 increased in price, 127 decreased and 9 remained unchanged.