Share trading come down 13 years low due floor price

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Share trading come down 13 years low due floor price

The Dhaka Stock Exchange’s trading has come down to its lowest level in 13 years and 2 months amid the prolonged recession. Analysts say the “floor price” of the stock is causing unease among investors, who are not buying the stock.

On the first day of the week, on Sunday (June 21), a total of Tk 36.82 crore worth of shares were exchanged on the Dhaka Stock Exchange (DSE), up from Tk 79.65 crore on the previous day. The Dhaka market had a lower turnover 156 months ago.On April 23, 2008, a total of 36 crore 79 lakh shares were  exchanged

“Everyone thinks that if I bought the stock now and lifted the floor, the money would be stuck,” said one market analyst. The circuit breaker rule was changed on March 19 after the outbreak of coronavirus panic and continuous drop in prices.

On the other day, an order of the Bangladesh Securities and Exchange Commission (BSEC) said that the closing price of the shares of each company for the previous five days would be the average floor price of the shares of that company. That price will be considered as ‘circuit breaker’ for that share. However, the previous rule of circuit breaker will continue in other cases including price increase.

Despite the decline in transactions, the main index of Dhaka market DSEX on Sunday rose by 2.40 points or 0.8 percent over the previous day to 3,982.98 points.

On the other hand, the main index of Chittagong Stock Exchange (CSE) CASPI has decreased by 3.38 points to 11,250 points, which is 0.3 percent less than the previous day. 9 crore 23 lakh shares were traded at CSE on this day, which was 1 crore 36 lakh taka on the previous day.

Shares and mutual fund units of 245 companies traded on the DSE. Of these, 17 have increased and 14 have decreased. And the price of 214 is unchanged. Shares and mutual funds of 91 companies traded on the CSE. Of these, 7 have increased, 9 have decreased and 84 have remained unchanged.

Bmirrorhttps://bmirror.net/
businessmirror20@gmail.com

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