DSEX slides 1.35% amid money market and inflation worries
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
January 31, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, JANUARY 31, 2023
DSEX slides 1.35% amid money market and inflation worries

Stocks

TBS Report
24 November, 2021, 10:15 pm
Last modified: 24 November, 2021, 10:19 pm

Related News

  • Is a US recession near? Making the call is trickier than ever
  • What does inflation have in store for businesses?
  • As inflation soars, Egyptians offered loans to buy books
  • Shipping-cost drop a 'smoking gun' foretelling inflation to cool
  • Sri Lanka seen holding rates as inflation fight continues; IMF deal key

DSEX slides 1.35% amid money market and inflation worries

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) sharply fell by 1.35% on Wednesday to close at 6,918 points

TBS Report
24 November, 2021, 10:15 pm
Last modified: 24 November, 2021, 10:19 pm
Photo: Collected.
Photo: Collected.

Stocks plunged on Wednesday as the tightening liquidity in the money market and the inflation spike increased investors' worry.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) sharply fell by 1.35% on Wednesday to close at 6,918 points.

The index that has been falling since Sunday has wiped out the entire gain of the previous week in a recovery phase.

"Equity indices are in the doldrums as the market momentum has weakened due to the tightening liquidity situation in the money market while inflation spikes added worries to the downbeat mood of investors," EBL Securities wrote in their daily market commentary on Wednesday.

The interest rate in the interbank market of call money - which banks borrow from each other to meet their overnight demand for cash - has doubled in a week amid a sudden increase in demand for cash in the economy.

"Investors were quite shaky and engaged in a selling spree in the stocks which recently outperformed in the market," it added.

Correction in largely capitalised banking stocks intensified the market fall.

Mysteriously, One Bank stock which was below Tk13 per share earlier last week jumped to Tk20 on Wednesday morning and closed at Tk18.5.

Recently, the demand for the private sector commercial bank's stock increased even though the bank was fined by the central bank for inflating its 2020 annual financial statements, while its non-performing loans rose to over 9% at the end of September.

Stockbrokers informed, a young cult individual investor who emerged as the most influential market player last year is behind the unusual price hike in One Bank stocks,  he in collaboration with his followers, manipulated several stocks this year.

The abnormal rise of his stocks' prices created a selling pressure in other stocks as many chases the rising ones selling off their holdings, observed the stockbrokers who spoke to The Business Standard seeking anonymity.

Market volatility again decreased the daily turnover by 14% to Tk1,130 crore on Wednesday as many investors turned watchful instead of triggering their buy-sell decisions.

The banking sector made over one-third of the day's turnover in the DSE.

The selling spree allowed only 75 of the DSE scrips to advance, while 259 declined, and 31 remained unchanged.

No sector, except paper and tannery, survived the sharp selloff on Wednesday as all suffered market capitalisation contraction.

    

  

Economy / Top News

DSEX / inflation

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

  • Representational image. Photo: MumitM/TBS
    Another bolt from the blue for consumers as retail power price hiked by 5%
  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
  • Photo: TBS
    Bangladesh remains one of the most corrupt countries in South Asia

MOST VIEWED

  • Currently, the company has two oil tankers. It uses the vessels to transport its own raw materials and also rents them out to other institutions such the Bangladesh Petroleum Corporation. Photo: Collected
    MJL posts 37% profit growth in Q2
  • Power Grid Company of Bangladesh posts record loss
    Power Grid Company of Bangladesh posts record loss
  • Mymensingh mayor, family acquiring Bangladesh Welding 
    Mymensingh mayor, family acquiring Bangladesh Welding 
  • Square Pharma's half-yearly profit crosses Tk1,000cr
    Square Pharma's half-yearly profit crosses Tk1,000cr
  • Bulk power tariff hikes push Desco into losses
    Bulk power tariff hikes push Desco into losses
  • Stocks tumble for second straight session
    Stocks tumble for second straight session

Related News

  • Is a US recession near? Making the call is trickier than ever
  • What does inflation have in store for businesses?
  • As inflation soars, Egyptians offered loans to buy books
  • Shipping-cost drop a 'smoking gun' foretelling inflation to cool
  • Sri Lanka seen holding rates as inflation fight continues; IMF deal key

Features

Photo: Collected

Tips to incorporate sustainable construction

2h | Habitat
Photo: Noor-A-Alam

How did mud walls find their way into urban designs?

3h | Habitat
Spotify is among the tech platforms that saw record growth during Covid lockdowns
Photo: DW

Could tech layoffs spread to rest of US economy?

7h | Panorama
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

7h | Panorama

More Videos from TBS

Is Djokovic the statistical G.O.A.T?

Is Djokovic the statistical G.O.A.T?

38m | TBS SPORTS
Two more factories of the country got platinum certificate.

Two more factories of the country got platinum certificate.

18h | TBS Today
Iconic villains of Bollywood

Iconic villains of Bollywood

19h | TBS Entertainment
General knowledge "Gravity"

General knowledge "Gravity"

17h | Videos

Most Read

1
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

4
Photo: Collected
Energy

8 Ctg power plants out of production

5
Photo: Saqlain Rizve
Bangladesh

Bangladeshi university students identified as problematic users of Facebook, internet: Study

6
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

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

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]