The New Nation - Internet Edition

Pulack Ghatack

Recurrent demonstrations and interference in the capital market have caused share prices to go up or down exposing weaknesses of the market.

As the trading started in police cordon at the Dhaka Stock Exchange (DSE) yesterday, the bourse got back its bullish trend with shares bouncing back after days of decline.

Prices at the Chittagong Stock Exchange (CSE) also went up following action by market regulator Securities and Exchange Commission (SEC) on Sunday.

Yesterday a total of 1,38,90,607 shares worth Tk 247.41 crore changed hands at the Dhaka bourse. Of the issues traded, 198 advanced and 23 declined and 11 remained unchanged.

Earlier on Monday, a group of small investors took to the street for the second time in a month staging demonstration in front of DSE building as the premier bourse's General Index fell.

In February too they demonstrated when the price indices fell.

While talking to The New Nation Chief Executive Officer (CEO) of DSE Dr Salahuddin Ahmed said, "Certainly the market has weakness as it is yet to be in the hand of institutional investors. Individual investors mainly are crowding here."

The DSE CEO termed the demonstration by some investors as "the part of our culture."

"Some people with a motive to influence the market, may provoke people to demonstrate. We are sensitive to the interest of investors. But, we take decisions looking at the market trend, so that it does not crash," he said.

About yesterday's bounce back, share bazaar analyst Prof Abu Ahmed said, "prices probably bottomed out yesterday in a natural process of correction. The market regulator is also showing a lenient trend."

Panic among investors appeared to have faded as the day saw substantial buying, he added.

The general index rose sharply on the opening bell and maintained an upward curve to close at 71.66 points or 2.41 per cent higher at 3036.02.

Turnover surged to Tk 247 crore from Tk 169 crore with 13,890,607 shares changing hands. Gainers outnumbered losers 198 to 23. Eleven issues remained steady.

Lanka Bangla Finance topped the turnover board. It rose 10.95 per cent to Tk 199.50. Square Pharmaceuticals ended on Tk 5241.25, up 3.16 per cent.

Beximco Pharma advanced 5.40 per cent to Tk 99.40.

BRAC Bank finished at Tk 1071.50, edging up 0.21 per cent from Monday's closing.

AIMS 1st Mutual Fund gained 8.81 per cent to close at Tk 21.49.