The Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) ended the first working day of the week on Sunday (October 27) with a big fall in the indices.
On this day, the amount of money traded in DSE decreased compared to the previous working day, but it increased slightly in CSE. At the same time, shares of most companies and mutual funds traded on DSE and CSE fell.
On the other hand, the trading started with price drop in both capital markets from Sunday morning. As the day progressed, the level of decline in the index increased. At one stage, the main index of DSE, DSEX, fell by 149 points.
Investors held a human chain program at the call of Bangladesh Capital Market Investor Association in front of Bangladesh Bank at around 1:45 PM on this day in protest against the continuous decline of the capital market. At this time, the investors presented 10 demands as an immediate action to prevent the collapse of the capital market.
According to DSE and CSE sources, at the end of the day, the main index of DSE, DSEX, is 149.20 points lower than the previous day at 4,965 points. The DSE Shariah index fell by 36.27 points to 1,007 points and the DS30 index fell by 48.18 points to 1,830 points.
A total of 396 shares and units of companies were traded on DSE. Among them, the share and unit prices of 29 companies increased, 341 decreased and 26 remained unchanged.
A total of 303 crore 80 lakh shares and units were traded in DSE on this day. Shares and units worth Tk 306 crore and 1 lakh were traded on the previous working day.
On the other hand, Chittagong Stock Exchange (CSE) CSCX index is down 166.13 points to 8 thousand 539 points. Overall index CASPI decreased by 274.29 points to 14 thousand 28 points, Sharia index decreased by 17.52 points to 909 points and CSE 30 index decreased by 128.44 points to 11 thousand 610 points.
Shares and units of 204 companies were traded on CSE. Among them, the share and unit prices of 26 companies increased, 171 decreased and 7 remained unchanged.
At the end of the day, shares and units of Tk 4 crore 25 lakh were traded in CSE. Shares and units worth Tk 4 crore 15 lakh were traded on the previous working day.
Regarding the immediate action to prevent the fall of the capital market during the benchmarking, the president of Bangladesh Capital Market Investor Association Nurul Islam Manik said that due to the current market situation, the gain-tax should be withdrawn quickly.
Due to the current market conditions, undue interference (investigations and untimely transfers to Z group etc.) should be stopped. Shares of companies cannot have any category (eg ‘A’ ‘B’ ‘Z’ etc.). Companies have to pay minimum 80% of earnings as dividend.
Banks, Finance, Insurance, Mutual Funds and ICBs including the capital market should be fully implemented. Investing in the Exchange Traded Fund Market (ETF) is quick. Companies must have a minimum shareholding of 30% with immediate effect.
BSEC has mandated at least 10 mutual funds to bring market investments in quick time. If a listed company fails to pay dividend for two consecutive years, its board must be reconstituted. The last force cell must be closed.