Dhaka stocks fall for second day

All three indexes of the Dhaka Stock Exchange (DSE) fell for the second consecutive day today, albeit slightly, a day after the regulator brought back the floor price for 169 companies.

On Wednesday, the Bangladesh Securities and Exchange Commission (BSEC) reinstated the floor price for 169 companies, less than three months after they were lifted.

At the end of July last year, the BSEC set the floor price of every stock to halt the free fall of the market amid global economic uncertainties. The floor price was the average of the closing prices on July 28 of the year and the preceding four days.

In December, the commission lifted the regulatory measure for 169 companies. Most analysts and market intermediaries have, however, been against the floor since it prevents the market from operating on its own.

The DSEX, the benchmark index of the top bourse in Bangladesh, slipped 0.02 per cent, to close at 6,213 today.

The DS30, the blue-chip index, edged down 0.09 per cent to 2,216 while the DSES, the shariah-compliant index, dropped 0.03 per cent to 1,357.

Turnover, a key indicator of the market, fell to Tk 427 crore, a decrease of 5.5 per cent from a day earlier. Of the securities, 72 advanced, 88 declined and 149 did not show any price movement.

The Caspi, the all-share price index of the Chittagong Stock Exchange, lost 53 points, or 0.29 per cent, to close at 18,282.

Of the issues, 28 rose, 37 retreated and 43 did not see any price swing. The turnover dipped more than 50 per cent to Tk 8.15 crore.