On Monday, the Dhaka Stock Exchange (DSE) witnessed a remarkable recovery, with indices rebounding and turnover surging by 77 per cent, following a substantial market fall. This downturn occurred on Sunday due to abnormal selling pressure after the removal of the floor price, which had been in place for one and a half years.
The main stocks at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) dominated the list of rising prices on Monday, contributing to a collective increase in indices. Trading activity exceeded Tk10 billion, marking the highest volume since July 18 of the previous year.
As most of the companies show restraint in increasing the prices, the transaction speed has also increased and Tk10.42 billion were traded in the DSE throughout Monday which is 77 per cent higher than Tk 5.89 billion on Sunday.
Despite a buyers crisis affecting around fifty companies, shares and units of 207 companies experienced a surge in prices, while 145 saw a decline and 40 remained unchanged. DSEs main price index, DSEX, climbed 14 points to reach 6,254 points.
Notably, the DSE-30 index and DSE Shariah also displayed positive movements, rising by 10 points to 2,147 points and Shariah rose by 6 points to 1,380 points.
And the DSE-30 index, which consists of 30 well-chosen companies, rose 10 points to 2,147 points compared to the previous day.
While the transaction speed increased significantly in DSE, the Chittagong Stock Exchange (CSE) faced a decline in overall value. However, transaction speed rose, and some companies reached the maximum limit of price increase.
The Bangladesh Securities and Exchange Commission (BSEC) decision to remove the floor price from the stock market last Thursday led to a temporary decline in the DSE index. However, the market rebounded on Monday as most companies share prices continued to rise throughout the trading period.
Despite positive market conditions, over fifty companies faced a buyer crisis, resulting in a drop in share prices. However, some companies experienced substantial price increases, with nine reaching the maximum limit in a single day. BD Thai Aluminum played a significant role in transaction volume, followed by Associated Oxygen and Orion Infusion.
Meanwhile, Chittagong Stock Exchange (CSE), the overall value of CASPI decreased by 93 points. Out of 267 participating firms, 123 saw a price increase, 118 experienced a decline, and 26 remained unchanged. Mondays trading amounted to Tk 218 million, surpassing the previous days total of Tk 127 million.
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