After going through an uptrend consecutively for the last five working days, the two stock exchanges of the country saw a decline on Sunday due to high sales.
DSEX, the major index of the Dhaka Stock Exchange (DSE), declined by 13.1 points whereas CSCX, the prime index of the Chattogram Stock Exchange, fell by 36.49 points.
DSE Director Md Rakibur Rahman told The Business Standard there were mainly two reasons behind the price decline: liquidity crisis and lack of trust among the investors.
He laid special emphasis on bringing trustworthy and compliant companies, including government ones, in order to make the market stable.
Market analysis shows DSEX declined by 5,223 points on closing. The turnover declined by 2.1 percent to about TK 469 crore, compared to the previous session.
Of the 354 companies and mutual funds that were traded, 214 witnessed decline, and 105 increase, in their prices. The prices of 35 companies and mutual funds remained unchanged.
At the DSE, 19.5 percent of the total exchange was pharmaceuticals. United Power was the top with an exchange of share worth Tk 17.86 crore, which is 3.8 percent of the total turnover.
United Air topped among the companies in terms of rise in rate. Its share rose 10 percent in a day reaching the circuit breaker.
On the other hand, at the CSE, the CSEX went down to 9697 points with a 0.37 percent decrease. The total exchange was Tk 43.15 crore. At the CSE, of a total of 257 companies and mutual funds, the rate of shares of 155 companies declined and 33 remained unchanged.
The application for the IPO of Ring Shine Textile started Sunday. The company would collect Tk 150 crore from the share market, with a face value of Tk 10 for each of its shares.
Besides, IFIC Bank changed its decision on the right share. The bank will release 1 share against 4 shares, which was previously 1 against 1. The face value of each right share would be Tk10. For this purpose, the bank is going to arrange a special general meeting at the Officers’ Club on October 10.
The record date has been fixed as September 16.