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Stocks open lower despite regulatory efforts

| Updated: June 04, 2022 10:03:28


Stocks open lower despite regulatory efforts

The market opened marginally lower on Thursday, despite the securities regulator imposed 2.0 per cent lowered circuit breaker again, amid confidence crisis among investors

The Bangladesh Securities and Exchange Commission is taking one after another steps to stop the market fall and increase the fund flow in the ailing market, but no initiative appeared to be effective amid low confidence, the market insiders said.

Earlier, the securities regulator has raised the margin-loan ratio to 1:1 while the government is set to extend the tenure as well as amount of the capital-market refinancing fund to help revamp the country’s ailing capital market.

Following the news, past two days’ index fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 13.61 points to stand at 6,174, after first hour of trading at 11:00am.

Two other indices also saw negative trend till then with the DS30 index, comprising blue chips, losing 8.87 points to reach 2,279 and the Shariah Index (DSES) fell 4.30 points to stand at 1,359.

Turnover, another important indicator of the market, stood at Tk 871 million after the first hour of trading at 11:00am.

Market operators said despite the regulatory efforts, the confidence of investors remained low as the economic concern persists among investors.

Of the issues traded till then, 171 declined, 109 gained and 70 issues remained unchanged on the DSE trading floor till then.

Bangladesh Shipping Corporation was the most traded stock till then with shares worth Tk 168 million changing hands, closely followed by Shinepukur Ceramics, JMI Hospital Requisite Manufacturing and Pioneer Insurance.

The Chittagong Stock Exchange also saw negative trend till then with its All Shares Price Index (CASPI)—losing 29 points to stand at 18,132 the Selective Categories Index – CSCX shed 19 points to reach at 10,877 at 11:00am.

Of the issues traded till then 68 declined, 23 advanced and 20 remained unchanged with Tk 16 million in turnover.

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