DSE market cap recovers after six-day tumble
Gaining 27 points on the day, the benchmark index of the premier bourse, DSEX, stood at 5,013 points
The total market capitalisation at the Dhaka Stock Exchange (DSE) marginally increased today, after a six-day tumble, standing at Tk374,542 crore.
Meanwhile, market regulator Bangladesh Securities and Exchange Commission (BSEC) held a meeting with stakeholders to discuss the current instability in the stock market.
BSEC Chairman M Khairul Hossain presided over the meeting, which was also attended by BSEC Commissioner Helal Uddin Nizami, along with representatives of the DSE Broker’s Association, the DSE, and the Chittagong Stock Exchange (CSE).
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Sources present at the meeting said the participants had discussed amending the Securities and Exchange Rules 1987.
Speaking to The Business Standard, DSE Director Minhaz Mannan Emon said the BSEC chief had met with Finance Minister AHM Mustafa Kamal on Wednesday to the discuss the current market scenario.
“The finance minister promised the BSEC chairman to ensure that all parties work together to develop the capital market,” Minhaz said.
He added that the finance minister also told the BSEC chairman that since a lot of banks’ investment in the stock market is below their upper limit, the market is facing a liquidity crisis.
As a solution to this, he promised to take action so that banks invest more in the stock market.
“Keeping the current scenario of the stock market in mind, the BSEC chairman has requested stakeholders to refrain from selling their shares for the time being,” Minhaz added.
Meanwhile, the Bangladesh Telecommunication Regulatory Commission today issued a notice to Grameenphone (GP), asking why the company’s licence should not be suspended for failing to pay its back taxes.
Gaining 27 points on the day, the benchmark index of the premier bourse, DSEX, stood at 5,013 points. The Shariah index, DSES, gained eight points and stood at 1,167, while the blue-chip index, DS30, gained 10 points and stood at 1,758.
Of the 352 securities traded at the DSE, values of 192 went up, 97 lost value, while the share prices of 63 companies remained unchanged.
Total transaction today stood at over Tk427 crore, 14 percent higher than the previous session.
United Power landed the highest amount of transactions, with shares worth over Tk44 crore being traded. With shares worth around Tk23 crore being traded, the IPDC took the second place.
Meanwhile at the port city bourse, CSE All Share Price Index (CASPI) gained 61 points, standing at 15,274 points at the end of session today.
The exchange saw total transactions worth over Tk15 crore. Among 263 securities traded in the exchange, 130 gained value, share prices of 95 went down, while that of 33 securities remained unchanged.
