Stock Market Revitalizes by News of BSEC Restructuring
Graphics: Agamir Somoy
Stock Market Revitalized by News of BSEC Restructuring
The country's stock market has been reinvigorated by a series of positive developments. Enthusiasm is growing among investors. The stock market has begun to turn around due to various initiatives, including the restructuring of the regulatory body, the finance minister's positive remarks about the market, and the announcement of stock market-friendly policies in the upcoming budget.
The stock market had been under pressure from various quarters for a long time. Alongside political instability, economic uncertainties had caused investors to suffer from a crisis of confidence. Most recently, on Tuesday, the Finance Minister announced during an exchange with economic beat journalists that the Bangladesh Securities and Exchange Commission (BSEC) would be restructured within two weeks. The very next day, trading volume on the market began to increase. In continuation of this trend, the Commission's Chairman and four commissioners resigned on Thursday. Simultaneously, the Ministry of Finance issued a notification appointing a new Chairman and commissioners.
Market stakeholders had long been demanding the restructuring of the commission. As a result, following the resignations and the announcement of the new commission, there was a significant surge in trading on Thursday. Trading volume increased by 168 crore 4 lakh taka compared to the previous day.
At the Dhaka Stock Exchange (DSE), trading ended on Thursday, the last working day of the week, with a rise in the index. Along with the index, share prices and trading volume of most companies also increased. This marked the fourth consecutive working day of upward trend in the country's stock market.
At the close of trading, the DSE Broad Index stood at 5,475 points, an increase of 33 points from the previous day. The DSE Shariah Index rose by 9 points to 1,108 points, and the DSE-30 Index rose by 11 points to 2,068 points.
Among the 391 companies and mutual funds traded throughout the day, share prices of 242 increased, 104 decreased, and 45 remained unchanged. Trading volume on the DSE amounted to Tk1,351 crore 59 lakh, which is Tk168 crore 4 lakh more than the previous trading day. On the previous trading day, the volume was Tk1,279 crore 13 lakh.
On the other hand, on the Chittagong Stock Exchange (CSE), the overall CASPI index rose by 82 points to 15,268 points. Among the 255 companies traded on the CSE, share prices of 152 increased, 74 decreased, and 29 remained unchanged. Shares and units worth Tk27 crore 46 lakh were traded on the CSE.
In terms of monetary value on the DSE, NCC Bank shares saw the highest trading, with shares worth Tk 33 crore 99 lakh traded. Other companies that made it to the top ten trading list on the DSE that day include: Genex Infosys (Tk 33.91 crore), Navana Pharma (Tk 21.42 crore), Monospool (Tk 20.22 crore), Munu Ceramics (Tk 20.11 crore), Kasem Industries (Tk 19.70 crore), Lovello Ice Cream (Tk19.66 crore), Jamuna Bank (Tk19.65 crore), Sun Life Insurance (Tk19.53 crore), and Mir Akhtar (Tk17.57 crore).
