Stock market dips ‘unexpectedly’ on first day after break

The DSEX fell by 1.5% in a single day

Investors are dismayed after a significant drop in the stock market on the first day of trading after the Eid holidays. In addition to falling share prices, investor participation declined too, which led to a fall in the number of transactions.

The Dhaka Stock Exchange’s main index – the DSEX – fell by 1.5 percent or 85 points on Monday. Trading also dropped to around Tk 3.68 billion, the lowest level since Jan 4.

Saiful Islam, the president of the DSE Brokers Association, described the extent of the decline as ‘unexpected’.

“I don’t know why this happened,” he said. “For a few days before Eid, the market was doing well. We will see the direction of the market and how it will behave after a couple more days.”

The index began to drop almost as soon as trading opened at 10am. It turned around at some point, but did not stabilise for long. It continued to fluctuate as time went on.

Of the shares traded on the DSE, the price of 336 fell, the price of 32 rose, and those of 27 remained unchanged.

“The market has just opened,” an investor named Shahiduzzaman said. “Share sales are also low. There weren’t too many buyers. This week, I believe it will be like this.”