The Dhaka Stock Market, which began the day with an upward trend, ended with a significant decline across all major indices.
By the close of trading on Wednesday, all three major indices had dropped, with the prices of most companies’ shares also falling.
The primary index, the DSEX, decreased by 25 points. The other two indices, the Shariah-based DSES and the blue-chip DS-30, dropped by 6 points and 5 points, respectively.
Stock market trading sees Uptrend in Dhaka; Chattogram index declines
During the first hour of trading, the DSEX had peaked at 5,212 points but ended the day at 5,177 points. In total, 396 companies participated in the trading, with 12.62 million shares exchanged in 133,417 transactions.
Among the companies listed for trading, the prices of 92 increased, while 247 saw a decline, and 57 remained unchanged.
In the 'A' category, 56 companies saw price rises, while 129 experienced price falls, and 32 remained unchanged. In the 'B' category, 20 companies saw price increases, 61 saw price decreases, and 6 remained stable.
In the 'Z' category, which includes underperforming companies, 20 companies saw their prices rise, while 61 saw declines, with 6 remaining unchanged. New issue stocks in the 'N' category saw one company’s price rise, while three experienced price drops.
Stock market sees 3rd day of growth, trading volume hits Tk 500 crore
Among the 37 mutual funds traded, 4 saw their prices increase, 15 saw a decrease, and 18 remained unchanged. Both of the corporate bonds listed on the DSE saw price declines.
In corporate news, Far Chemical Industries Limited paid a 1% dividend for its third-quarter results last year. Due to this, the company was moved from the 'Z' category to the 'B' category.
The DSE has instructed merchant banks and brokerage houses not to provide loans for the purchase of the company's shares.
Similarly, National Tubes Limited and Sharp Industries PLC also distributed dividends, but since they did not meet the designated dividend criteria, the DSE has issued similar instructions regarding loans for purchasing their shares. Both companies were moved from the 'Z' category to the 'B' category.
On a positive note, Dutch-Bangla Bank has been granted permission by the Bangladesh Securities and Exchange Commission (BSEC) to issue subordinated bonds worth BDT 1,200 crore.
The issuance is aimed at capital enhancement in compliance with Basel III international standards.
The bonds will be non-convertible, redeemable, and unsecured, with each bond priced at BDT 1 crore.
Stock Market: Indices surge as most company stocks gain in early trading
Among individual stocks, Bongoj Limited topped the list for price increases, with a 10% rise in its share price. On the other hand, Renwick Jajencsware’s share price saw the largest drop, falling by nearly 7%.
In the DSE’s block market, 30 companies saw 4.846 million shares change hands in 82 transactions, amounting to BDT 35.39 crore in total trades.
Compared to the previous day, the overall market turnover at the DSE dropped by BDT 8.6 crore, with total transactions amounting to BDT 413 crore.
However, despite the overall market downturn, the DSE’s SME sector saw a rise in its index, which increased by 12 points, or 1.13%, compared to the previous day. Along with the rise in the index, turnover in the SME market also grew, reaching BDT 12.87 crore, up from the previous day's BDT 9.53 crore.
In the Chittagong stock market, the index rose by 5 points, but again, the prices of most shares declined. Out of the 189 companies listed for trading, the prices of 103 companies fell, while 66 companies saw their prices increase, and 20 remained unchanged.
Total transactions in Chittagong increased by BDT 9 lakh, reaching BDT 5.44 crore.
The continued fluctuation in the stock market has left investors uncertain as they await further guidance from market regulators.