Stock index rises as investors rush to buy

General stock investors in Bangladesh rushed to buy stocks yesterday after the regulator lowered the limit of the circuit breaker to stop the free fall of the index.

The Bangladesh Securities and Exchange Commission (BSEC) reduced the lower limit of the circuit breaker from yesterday so that no stock can fall more than 2 per cent in a day.

The decision gave confidence to retail investors for which the index of the market rose.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose 50 points, or 0.81 per cent, to 6,237.

Meanwhile, both the DS30, the blue-chip index, and DSES, the Shariah-based index, advanced by 19 points and 10 points respectively.

Turnover of the DSE also rose to Tk 539 crore from the previous day’s Tk 513 crore.

Pioneer Insurance shed the most, dropping 10 per cent. National Life Insurance Company, Phoenix Insurance Company, Fareast Finance and Investment and Silco Pharmaceuticals are among the other companies that suffered losses.

Beximco became the stock to be traded the most, with shares worth Tk 60 crore changing hands, followed by IPDC Finance, Fortune Shoes, Bangladesh Shipping Corporation and Bangladesh Finance.

Chittagong Stock Exchange (CSE) also underwent a falling trend. The CASPI, the share price index of the port city bourse, plummeted 118 points, or 0.65 per cent, to 18,280.

Among the 255 stocks to undergo trade, 132 advanced, 88 fell and 35 remained the same.