LOSTNewsBD, Oct 10, 2013: After the news of Bangladesh Bank financing fine of seven banks for various inconsistencies including investing in the capital market, the stock market has come down heavily on Monday. However, on Tuesday, the upturn in the stock market has returned to the banking sector.
On this day, the country's main stock exchange Dhaka Stock Exchange (DSE) and the other stock market Chittagong Stock Exchange (CSE) price index increased. However, the amount of transaction decreased slightly. The share price of most of the traded companies fell. Despite this, the price of the shares of the bank increased, the price index did not fall.
Earlier on Sunday, Bangladesh Bank fined a government and 6 private banks. These banks have invested more than the fixed limits in the share market. As well as hiding additional investment information.
The news spread in the media, and there is a panic among the investors. As a result, the banks and financial sector companies received massive tax on Monday.
As a result, a bank could not take place in the list of price rise yesterday. And only three companies in the financial sector are going to raise the price. But after one working day today (Tuesday) the situation has improved. Today, there are only four banks in the DSE transactions. In contrast, the price of 23 banks increased.
Experts say that if the seven banks were fined their names from the Bangladesh Bank, it would not have been bigger on Monday.
According to them, there is nothing to panic among investors in such a move by the Bangladesh Bank. Rather they (Bangladesh Bank) have taken steps that are good for the overall market.
Director of Dhaka Stock Exchange Shakil Rizvi said Monday's downturn was due to financing 7 banks from the Bangladesh Bank and due to the increase in share price. But there is nothing to panic about it. Market conditions will not be like 2010. Because now there is less share of the common investors.
However, on condition of anonymity, another director of the DSE criticized the Bangladesh Bank and said they gave information to the media about the fines of seven banks, but did not give their names, it was irresponsible. Bangladesh did not have such a large rate on Monday when the bank revealed their names.
Market review can be seen, on the downside of Tuesday's commencement of trading in the DSE. But with the time of the time the index is increasing. As a result, after the day's trading, DSE's main index DSEX rose by 12 points to 6 thousand 141 points compared to the previous day.
Among the other two, DSE-30 index rose 7 points to 2,207 points. However, the DSE Shariah index dropped 1 point to 1,347 points compared to the previous day.
Today, shares of 188 shares traded in DSE decreased compared to yesterday. On the other hand, 106 have been increased and the price of 37 remained unchanged.
The total turnover of 765 million and 10 million shares was traded on the day The previous day trading was 967 crore 84 lakh shares. As of that, the turnover decreased by 202 million 74 lakh.
BRAC Bank shares shares with the highest turnover in the number of shares today. Today, the company has a turnover of Tk 44.6 million.
Langkangla Finance shares in second place has been traded 37.4 million taka Exim Bank is third in the transaction of 33 crore shares.
The transaction is followed by Uttara Bank, Shahjalal Islami Bank, Islami Bank, We Network, National Bank, Al-Arafah Islami Bank and Premier Bank.
On the other hand, Chittagong Stock Exchange (CSE) CSEX Index rose 19 points to 11,543 points. In the CSE today, 466 organizations and 497 million shares of mutual funds were traded. In comparison, the price increased 82 percent compared to the previous day. On the other hand, reduced to 140 and 24 remained unchanged.