Jumbangla Desk: After the fall of the Awami League government on August 5 in the student uprising, the stock market of the country has continued to fall. Meanwhile, in the first two working days of the week, about 11 thousand crores of capital has disappeared from the market. With this, in the last two months, the market has lost 42 thousand 526 crore 72 lakh rupees. This information is known from Dhaka Stock Exchange (DSE) sources.
Share Market
Market analysis shows that DSE lost capital of Tk 5000 243 crore 98 lakh in a single day on Monday, the second working day of the week. The previous day the market capitalization decreased by 5 thousand 485 crore 29 lakh taka.
Continual price declines are causing anxiety, panic and desperation among investors and intermediaries. The collapse of 2010 and subsequent 14-year downward trend during the fallen Awami League government affected all categories of investors and institutions in the capital market.
In such a situation, when the misrule of the Awami League came to an end on the 5th of August in the coup of the students, the investors were filled with new hope. They hoped that the capital market would regain its normal momentum in the new environment that had cost so much blood. But the opposite is happening.
On Sunday, the Dhaka Stock Exchange (DSE) index fell by 149 points, the highest in four years. Monday fell another 67 points. With this, the DSE index lost 1147 points from August 12.
After yesterday's decline, the benchmark DSE index fell to 4898 points, the lowest in nearly four years. Earlier on October 30, 2020 DSE main index was 4866 points. That is, in the last three years and 11 months, the stock market index has fallen to the lowest level.
General investors led by Investor Unity Council held a human chain and protest program to demand the resignation of the chairman of Bangladesh Securities and Exchange Commission (BSEC) Khandkar Rashed Maqsood in protest against the continued price fall. In front of the old building of Dhaka Stock Exchange (DSE) at around 10:30 am on Monday morning, ordinary investors including the leaders of the organization are holding this human chain program.
During the protest, the investors said, 'Even in 2010, we have not suffered as much as we have in the last two and a half months. Share prices fell in 2010. But now the situation is so bad that the share price has fallen below the face value of 10 rupees. We have become destitute.'
They said, 'We are not able to live properly with our family. Investors have no confidence in the current BSEC commission. So we demand the resignation of the BSEC chairman as soon as possible.
Investors also said that 70 percent of our invested money has been reduced due to the continuous fall in prices in the last two months. We are all dreaming of a new Bangladesh, we are not here to beg. Now we have lost capital and we are destitute.
Regulatory body Bangladesh Securities and Commission (BSEC) has formed a four-member investigation committee to investigate the reasons for the continuous price fall in the capital market. The committee has been ordered to submit a report within 10 working days, said Rezaul Karim, spokesperson and executive director of the organization. He said, 'The four-member committee will find out the reasons behind the market decline and give a report.'
The members of this committee are BSEC Director Mohammad Shamchur Rahman, Deputy Director Mohammad Oraichuul Hasan Rifat, Dhaka Stock Exchange Assistant General Manager Mahfuzur Rahman and Central Depository Bangladesh Limited (CDBL) Assistant General Manager Kazi Minhaj Uddin.
