The DSEX, the main index of the Dhaka Stock Exchange, had risen nine points as of 11:30 am on Monday
Published : 22 Jan 2024, 11:39 AM
Most share prices have begun to turn around on Monday after the initial shock from the lifting of price floors at the start of the week.
In the first hour and a half of trading from 10 am, the prices of 200 of 391 shares of companies and mutual funds listed at the Dhaka Stock Exchange rose. The prices of 144 fell and those of 35 remained unchanged.
As of 11:30 am, the market’s main index – the DSEX – had risen nine points to 62,049 based on transactions worth TK 4.57 billion.
Bangladesh currently has shares for 392 listed companies and mutual funds on its stock market. On Thursday, the Bangladesh Securities and Exchange Commission lifted the price floor imposed on 357.
On Sunday, the first working day since the decision took effect, prices dropped sharply. Most shares dipped in price and the stock market saw a significant drop.
Eventually, institutional investors stepped up to ease the hit. Through their engagement, the stock market avoided a larger decline.
On Sunday, the DSEX closed at 6,240, a 96-point day-on-day drop.
Of the 386 shares that were involved in transactions, the prices of 296 fell, 54 rose, and 36 remained unchanged.
Investors believed the positive turnaround would continue into Monday as new investment entered the market. However, the day began on a more mixed note.
The DSEX initially fell in the first two minutes of trading from 6,240 to 6,189. It lost 51 points before it started to recover. It rose again to 6,196 before another decline of six points.
After 10:06 am, the index gradually began to trend up. That trend kept going as of 11:30 am.