TBT DESK: Bangladesh's stock market remains trapped in a downward spiral, with persistent price drops across most listed securities. As share values continue to fall, investors are facing mounting losses, triggering frustration and even street protests.
For 13 of the past 14 trading sessions, the Dhaka Stock Exchange (DSE) has seen a consistent decline, with the Chittagong Stock Exchange (CSE) experiencing an unbroken 13-day slump. On Wednesday (30 April), the trend continued, despite an initially positive start to the trading day.
At the start of Wednesday's session, prices of many shares began to rise, temporarily pushing the DSEX index up by 22 points. However, this optimism quickly faded within the first 30 minutes, and prices began falling once again.
At day's end, 158 companies registered gains on the DSE, while 175 saw losses, and 62 remained unchanged. Notably, mutual funds fared relatively better, with the majority retaining their gains amid the overall bearish trend.
Among dividend-paying companies, 93 shares with payouts of 10% or more saw price increases, while 94 declined, and 30 remained unchanged. For mid-range firms (offering less than 10% dividends), 33 rose, 36 fell, and 14 were unchanged.
Even stocks in the troubled 'Z' group-often labelled as "junk" due to their failure to offer dividends-saw mixed performance. 32 of these gained, 45 declined, and 18 remained flat.
Despite the market downturn, trading volume on the DSE rose to Tk 326.63 crore, up from Tk 291.07 crore the previous day. City Bank led in transaction value with Tk 18.87 crore, followed closely by Midland Bank (Tk 18.76 crore) and Beach Hatchery (Tk 9.86 crore).
Other top-traded companies included Beximco Pharma, Bangladesh Shipping Corporation, Lovello Ice Cream, Uttara Bank, Magura Multiplex, and Shahjibazar Power.
The DSEX index closed 17 points lower at 4,917, while the DS30 index fell by 1 point to 1,822. Interestingly, the DSES Shariah index saw a marginal rise of 0.22 points, closing at 1,094.
On the CSE, the CASPI index dropped 9 points. Out of 233 traded companies, 88 advanced, 116 declined, and 29 remained unchanged, with total turnover rising sharply to Tk 41.58 crore, up from Tk 10.99 crore in the previous session.
Meanwhile, growing discontent among retail investors reached a boiling point on Tuesday, as groups staged demonstrations in Motijheel and outside the Anti-Corruption Commission. Protesters demanded the resignation of BSEC Chairman Dr Khondaker Rashid Maksud, citing alleged inaction and mismanagement amid the prolonged market crisis.
As small investors continue to see their capital erode, trust in market institutions appears to be waning. Despite protests and calls for accountability, the market remains gripped by uncertainty and volatility.