Total market capitalisation at the Dhaka Stock Exchange (DSE) fell by Tk10,000 crore in the last five working days, dwindling to Tk3,74,311 crore on Tuesday from Tk3,84,918 crore on August 27.
The broad-based index of the premier bourse, DSEX, lost 171.64 points during this period.
Market experts blamed this on a lack of confidence among traders, resulting in small numbers of transactions.
Talking to The Business Standard, a senior executive working at a securities exchange house said almost nobody was trading at the moment.
“Moreover, foreigners are selling their shares. In the last six months, they withdrew around Tk615 crore from the market,” added the executive, wishing to remain anonymous.
All eyes are now on the Bangladesh Securities and Exchange Commission (BSEC), awaiting the market regulator’s intervention.
The DSEX fell by 26 points, standing at 5,007 points on Tuesday. The Shariah index, DSES, fell by five points and stood at 1,167 points, while the blue-chip index, DS30, lost 15.88 points and stood at 1,759 points.
Total transaction for the day stood at Tk394 crore, 11 percent lower than that on the previous session.
Among all 339 securities traded on Tuesday, prices of 169 securities went down, while those of 109 increased. At the end of the day, prices of 61 securities remained unchanged.
DSE trading data revealed that shares of Grameenphone lost Tk9 in share value, prices of which stood at Tk294.80 per share – the lowest in the last two years.
Market experts believe the reason behind this fall in share prices of the national telecom service leader is due to the company’s recent dispute with the Bangladesh Telecommunication Regulatory Commission over back taxes.
Other large cap companies losing share value – including British American Tobacco and United Power – and fall in share prices in the banking sector dragged down the DSEX index.
Monno Ceramic Industries Ltd bagged the highest amount of transactions on Tuesday, amounting to a total of shares worth Tk28 crore being traded. The company’s share prices increased by 79 percent since the last month.
However, Desh Garments took the lead in terms of highest rise in share value for the day, with a 9 percent increase in prices. Share price of the company stood at Tk199.30, bouncing back from the third quarter (January-March) of the 2018-19 fiscal, when the company lost Tk1.04 per share.
The company’s profit at this time stood at only Tk1 crore.
Weak and loss-making companies – Imam Button, C&A Textiles, Dulamia Cotton, Dacca Dyeing, United Air, and Tallu Spinning – lost the most value on the day.
Meanwhile, Chittagong Stock Exchange’s key index, CSEX, lost 312 points in the last five days. On Tuesday, CSEX lost 65 points, standing at 9,289 points.
Total transaction at exchange was worth Tk16 crore. Among 236 securities traded in the bourse in the session, 130 lost value, while prices of 69 securities went up.