Stock market tumbles, index hits 34-month low
Staff Reporter :
In continuation of the previous working day, there was a big fall in the country’s stock market on Tuesday.
The main index of the Dhaka Stock Exchange (DSE) fell to its lowest level in 34 months.
Like the DSE, the Chittagong Stock Exchange (CSE), another stock market, also saw a decrease in the prices of most companies.
As a result, all the indices experienced a big fall.
Before this, the share market fell in the last five trading days.
In the same week, the market capitalisation of DSE decreased by more than 49 thousand crore taka and in the fall of four consecutive weeks, the market capitalisation decreased by more than 70 thousand crore taka, and the main index of the DSE decreased by more than 500 points.
In this situation, stock market trading started by increasing the share prices of most companies.
As a result, the main index of the DSE increased by 2 points as soon as trading started.
However, within 5 minutes, most of the companies were on the price cut list, and the price cut list gets bigger as the trading time increases.
As a result, the stock market ended with a collapse.
At the end of the day’s trading, only 41 companies had entered the list of price hikes on DSE.
On the contrary, the price of 319 companies decreased and the price of 36 remains unchanged. DSE’s main price index, DSE-X, fell by 84 points to 5,814 points.
With this, the index is at its lowest level since May 23, 2021. On May 23, 2021, the main index of the DSE was 5,787 points. The index didn’t go down that much after that.
The DSE-30 index, which consists of 30 companies, is down by 22 points compared to the previous day at 2,200 points and Tk 465 crore and 54 lakh had been traded in DSE.
Tk 486 crore and 67 lakh were traded on the previous working day.
Accordingly, the transaction decreased by Tk21 crore and 13 lakh.
Shares of Asiatic Laboratories were the top contributors to the trade. 40 crore and 65 lakh shares of the company have been traded.
Fu-Wang Ceramics was in the second place as it traded shares worth Tk 16 crore and 2 lakh. Golden Son was in the third position with a share transaction of Tk 15 crore and 47 lakh.
Besides, the list of top ten companies in terms of transactions on DSE includes Central Pharmaceuticals, Renata Limited, Best Holdings, SS Steel, LafargeHolcim Bangladesh, British American Tobacco, and Lovello Ice Cream.