Market to open with new circuit breaker
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
MONDAY, MAY 16, 2022
MONDAY, MAY 16, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Market to open with new circuit breaker

Stocks

TBS Report
21 March, 2020, 07:55 pm
Last modified: 21 March, 2020, 08:06 pm

Related News

  • Businessman allege market authorities pressuring him to rebuy his spaces 
  • Onion imports halted since Eid  
  • Fair price sales draw huge crowds
  • Govt urged to clamp down on syndicates controlling commodity market
  • Consumers tighten belts, economic recovery at risk

Market to open with new circuit breaker

The market witnessed three negative sessions and one positive session during the week

TBS Report
21 March, 2020, 07:55 pm
Last modified: 21 March, 2020, 08:06 pm
File Photo: Rehman Asad/TBS
File Photo: Rehman Asad/TBS

The stock market extended its losses last week but thanks to regulator intervention, indices recovered abruptly on Thursday amid new circuit breakers.

The Bangladesh Securities and Exchange Commission (BSEC) introduced a new circuit breaker rule and set a floor price for every stock to keep the market buoyant. 

The new emergency circuit breaker rule was set so that the prices of securities do not go below their average prices from the previous five sessions – from March 19. The benchmark index of the Dhaka Stock Exchange, DSEX, gained more than 10 percent during the last trading session, which was only 30 minutes long.

The DSEX dropped 155 points – or 3.8 percent – during the week to close at 3,975.

CASPI, the benchmark index of the Chittagong Stock Exchange, plunged a staggering 1,680 points – or 13.3 percent – over the week to close at 10,963.

According to the Weekly Market Review of UCB Capital Management Ltd, investors displayed a frenzied selling attitude after Covid-19 was declared a pandemic in the country.

The market witnessed three negative sessions and one positive session during the week.

On March 15, the market faced a negative session because of coronavirus fears among investors, as global stocks took a nosedive because of the pandemic. Covid-19 has also affected remittance flows, one of Bangladesh's important economic indicators.

The market extended its losses for the rest of the sessions during the week over virus fears. On March 18, the main index jumped over 106 points – within five minutes of trading – on the news of banks' investment in the market. However, they could not keep up the pace as investors kept selling shares to avoid losses – fearing the likelihood of an economic lockdown, stated the market review of EBL Securities Ltd. 

However, on March 19, the last trading session of the week, indices recovered because of the securities regulator's new circuit breaker rule.

Trading remained low during the week, and the average turnover stood at Tk314.6 crore – down 25 percent from the previous week's Tk417.7 crore.

In weekly average turnover distribution, the pharmaceuticals sector contributed the highest – 19.6 percent – to turnover, followed by engineering which added 11.2 percent and textiles which added nine percent.

All the sectors posted weekly losses except for tanneries which exhibited price appreciation of 0.5 percent. The food sector exhibited the highest price correction of seven percent during the week.

Among large-cap sectors: financial institutions lost 6.5 percent, telecoms lost 5.1 percent, pharmaceuticals gave up 3.9 percent, and banks slid 2.9 percent on the weekly sector return board.

Square Pharmaceuticals Ltd was the most-traded stock of the week with a closing price of Tk170.4 per share. Its weekly turnover was Tk63.3 crore, according to the DSE website.

Khan Brothers PP Woven Bag Industries Ltd topped the weekly gainers' table by gaining 7.9 percent, closing at Tk6.8 per share. Bangladesh Industrial Fin Co Ltd, on the other hand, was the week's worst loser as it dropped 28.6 percent and closed at Tk2 per share.

Economy / Top News

market / Circuit-breaker

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • CPD for monthly Tk1,000 allowance for unemployed youths 
    CPD for monthly Tk1,000 allowance for unemployed youths 
  • Photo: PID
    Make best use of funds in effective implementation of SDGs: PM Hasina
  • Commerce Minister Tipu Munshi. Photo: Collected
    Govt plans to import wheat from 5 countries: Tipu Munshi

MOST VIEWED

  • DSEX drops over 2%
    DSEX drops over 2%
  • Union Capital heading in the same direction as People’s Leasing, BIFC
    Union Capital heading in the same direction as People’s Leasing, BIFC
  • Representational image. Photo: Collected
    Bank investment accounts for less than 5% of DSE market capitalisation
  • Shaw Wallace to sell National Housing shares
    Shaw Wallace to sell National Housing shares
  • Photo: Collected
    BD Paints QIO subscription starts 22 May
  • Firms slow in sending unclaimed dividends to market stabilisation fund
    Firms slow in sending unclaimed dividends to market stabilisation fund

Related News

  • Businessman allege market authorities pressuring him to rebuy his spaces 
  • Onion imports halted since Eid  
  • Fair price sales draw huge crowds
  • Govt urged to clamp down on syndicates controlling commodity market
  • Consumers tighten belts, economic recovery at risk

Features

Bitcoin, by far the largest cryptocurrency, is a terrible substitute for government-issued money. Photo: Reuters

Crypto’s wild week offers a much-needed warning

44m | Panorama
Karst Stone Paper Journal: Write on indestructible stone paper

Karst Stone Paper Journal: Write on indestructible stone paper

1h | Brands
Pesky bugs do not stand a chance against this automatic indoor insect trap

Pesky bugs do not stand a chance against this automatic indoor insect trap

1h | Brands
Wazeenah: Turning furniture into a canvas

Wazeenah: Turning furniture into a canvas

2h | Brands

More Videos from TBS

How can you become proficient as a new team leader?

4h | Videos
Future of newborn baby genome sequencing: Good or Bad?

Future of newborn baby genome sequencing: Good or Bad?

4h | Videos
What Europe-based Fair Wear says about fair price of Bangladeshi cloth

What Europe-based Fair Wear says about fair price of Bangladeshi cloth

17h | Videos
Microplastics found in 5 local sugar brands

Microplastics found in 5 local sugar brands

17h | Videos

Most Read

1
The hostile welcome to Bangladesh
Bangladesh

The hostile welcome to Bangladesh

2
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

3
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

4
Union Capital asked to return Tk100cr FDR to BATBC 
Banking

Union Capital asked to return Tk100cr FDR to BATBC 

5
Bangladesh gas fields burnt $3m worth of gas in the air in 2021
Energy

Bangladesh gas fields burnt $3m worth of gas in the air in 2021

6
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab