• Login
  • Register
BizData Insights
  • About
  • Market Insight
    • Financial
      • Bank
      • NBFI
      • Insurance
      • Fintech
    • Consumer & Retail
      • FMCG
      • Commodity
      • Retail
      • Electronics
      • Mobile
      • Healthcare
    • ICT & Telecom
      • Telecom
      • Technology
      • Start-Up
      • Media
    • Energy & Power
      • Power
      • Alternative Energy
      • LPG & LNG
    • Housing & Building Materials
      • Cement
      • Steel
      • Paint
      • Ceramics
      • Cables & Lighting
    • Lifestyle & Fashion
      • Furniture
      • Footwear
      • Lifestyle
      • Homecare
    • Agriculture & Livestock
      • Agro
      • Fisheries
      • Poultry & Livestock
    • Healthcare & Pharma
      • Pharmaceuticals
      • Health Service
      • Health Tech
    • Automotive & Logistics
      • Automotive
      • Aviation
      • Logistics & shipping
    • Chemical & Engineering
      • Paint & Chemical
      • Engineering
      • Heavy Industry
    • RMG & Textile
    • NGO & Development
      • NGO
        • SDG
          • Skill
          • Migration
          • Climate
          • Gender
          • Urban
    • Leisure
      • Hotel
      • Tourism
    • Development
  • Economic Insight
    • Forex & Remittance
    • Inflation
    • VAT & Tax
    • Stock Market
    • SME
    • Govt.
    • Global Report
    • GDP
    • Investment
    • Trade
  • Data Terminal
    • Business Dashboard
    • Economic Dashboard
    • Industry Dashboard
    • Startup Dashboard
  • Technology
  • Business Advisory
No Result
View All Result
BizData Insights
No Result
View All Result

Stocks drop to five-month low

by BIZDATA INSIGHTS
April 17, 2019
in Stock Market
0
Stocks drop to five-month low

Published at: The Daily Star, April 17, 2019

Dhaka stocks sank deeper into the red yesterday, hitting a five-month low and eliciting angry calls for resignation of the stock market watchdog’s chief from anguished investors.

YOU MAY ALSO LIKE

Simtex Industries’ two directors resign without notifying the DSE

Savar Refractories requires its directors to pay Tk84 per share for delisting

DSEX, the benchmark index of the Dhaka Stock Exchange, plummeted 60.55 points, or 1.14 percent, to finish the day at 5,249.

In the last one month, investors saw their shares’ value erode by Tk 22,486 crore.

Desperate, investors demonstrated in front of the DSE office yesterday and demanded resignation of M Khairul Hossain, the longest-serving chairman of the Bangladesh Securities and Exchange Commission, within 48 hours.

Otherwise, they will go for tough movement.

In his eight-year-long tenure, Hossain failed to boost investor confidence and bring quality stocks to the market, they said.

“The chairman is working for the issuer companies and stock brokers, not for investors,” said Ariful Islam, an agitating investor who has lost 40 percent of his money in just one month.

The BSEC has given approval to many companies to go public though those were not performing well, said Mizanur Rashid, another investor.

“These under quality stocks have impacted general investors’ confidence. So, their participation in the market fell,” Rashid said.

Investors urged the authorities to compel sponsors of companies whose stock prices have plunged below the issue price to buy back their shares. They also demanded 90 percent of net income as dividend if the companies do not go for further investment.

The main problem of the market now is liquidity pressure stemming from banks, said KAM Majedur Rahman, managing director of the DSE.

The interest rate of bank deposits is increasing in addition to the existing high returns on government’s savings certificates.

“The Bangladesh Bank can take initiatives to tackle the issue and cool down the pressure,” he added.

State-owned Investment Corporation of Bangladesh (ICB) has very limited scope to make fresh investment as its capital base is very low. “Time has come to increase its capital base so that it can support the market properly,” he added.

Market analysts said the stock market has been impacted by the lower participation of institutional and foreign investors.

Turnover, one of the important indicators, also dropped 9.12 percent yesterday to Tk 269.91 crore, with 6.57 crore shares and mutual fund units changing hands on the DSE.

Of the traded issues, 59 advanced, 253 declined and 32 closed unchanged on the premier bourse.

Monno Ceramics dominated the turnover chart with its transaction of 6.24 lakh shares worth Tk 17.56 crore, followed by Fortune Shoes, Bangladesh Submarine Cable Company, Reckitt Benckiser and Square Pharmaceuticals.

Standard Ceramics was the day’s best performer with its 9.98 percent gain, while Reckitt Benckiser was the worst loser, shedding 19.44 percent.

Chittagong stocks also closed low as CSCX declined 115.47 points, or 1.17 percent, to finish the day at 9,743.87.

BIZDATA INSIGHTS
Author: BIZDATA INSIGHTS

Tags: CSEDSEStock index
Share61Share11Pin14SendShareSend

Recent News

Dhaka ranks 1st, Rajshahi ranks 4th among top 5 noisiest city: UN report

Department of Environment working on project to reduce noise pollution

August 17, 2022
Draft regulations for media platforms will stifle growth

ILO signs agreement with FBCCI to improve workplace safety in 10 sectors

August 17, 2022
Countrywide load-shedding increases due to gas shortage in power plants

Govt introduces directives to save power at public offices

August 17, 2022
Dhaka’s air quality returned to ‘unhealthy’ zone

Dhaka becomes world’s 5th worst city for air pollution

August 17, 2022
PM urges for more entrepreneurs

PM to Bachelet: Rohingyas should return to Myanmar

August 17, 2022
FBCCI wants govt to harness bilateral relations with Indonesia

Indonesia wishes to expand its cooperation with Bangladesh

August 17, 2022
ECNEC grants approval to 6 projects totaling 2,504.75Crore

ECNEC grants approval to 6 projects totaling 2,504.75Crore

August 17, 2022
Indo-Bangladesh bilateral trade face barriers

PM approves key trade negotiations with India

August 17, 2022
Loading

BIZDATAINSIGHTS

BIZDATAINIGHTS is Market Insights, Data Intelligence and Business Advisory Platform

BIZDATAINIGHTS is Market Insights, Data Intelligence
and Business Advisory Platform

Menu

  • About
  • Market Insight
  • Economic Insight
  • Data Terminal
  • Business Advisory
  • Technology

Contact Us

[email protected]
House:26, Block:L, Road:2, Banani Dhaka
Facebook-f Linkedin Youtube Twitter Github

© 2021 Bizdata Insights. Built on AWS

No Result
View All Result
  • About
  • Market Insight
    • Financial
      • Bank
      • NBFI
      • Insurance
      • Fintech
    • Consumer & Retail
      • FMCG
      • Commodity
      • Retail
      • Electronics
      • Mobile
      • Healthcare
    • ICT & Telecom
      • Telecom
      • Technology
      • Start-Up
      • Media
    • Energy & Power
      • Power
      • Alternative Energy
      • LPG & LNG
    • Housing & Building Materials
      • Cement
      • Steel
      • Paint
      • Ceramics
      • Cables & Lighting
    • Lifestyle & Fashion
      • Furniture
      • Footwear
      • Lifestyle
      • Homecare
    • Agriculture & Livestock
      • Agro
      • Fisheries
      • Poultry & Livestock
    • Healthcare & Pharma
      • Pharmaceuticals
      • Health Service
      • Health Tech
    • Automotive & Logistics
      • Automotive
      • Aviation
      • Logistics & shipping
    • Chemical & Engineering
      • Paint & Chemical
      • Engineering
      • Heavy Industry
    • RMG & Textile
    • NGO & Development
      • NGO
    • Leisure
      • Hotel
      • Tourism
    • Development
  • Economic Insight
    • Forex & Remittance
    • Inflation
    • VAT & Tax
    • Stock Market
    • SME
    • Govt.
    • Global Report
    • GDP
    • Investment
    • Trade
  • Data Terminal
    • Business Dashboard
    • Economic Dashboard
    • Industry Dashboard
    • Startup Dashboard
  • Technology
  • Business Advisory

© 2021 Bizdata Insights. Built on AWS

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?