Stock Market

Bangladesh’s stock market took a dive yesterday thanks to a profit booking tendency among investors alongside an ongoing stand-off between Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) regarding two issues.

Beximco Pharmaceuticals Ltd finalised agreements yesterday to acquire 54.6 per cent of stakes in Sanofi Bangladesh for over Tk 400 crore.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat Ul Islam expressed his firm optimism about sustaining the ongoing flow of capital market, saying that no vested quarter can now indulge in any foul play in the share market like in the past.

Last week will certainly remain memorable for the stock market, with its indexes reaching record levels every day while market capitalisation a historical high over the five-day period.

The stock market witnessed yet another bullish week with market-cap of Dhaka Stock Exchange (DSE) climbing to a historical high, thanks to increased investor participation.

Despite a price drop of most listed companies’ stocks, the benchmark index of the Dhaka bourse soared and broke its previous record yesterday.

Shares on the Dhaka Stock Exchange (DSE) continued their upward movement yesterday, buoyed by investors’ cheerful participation, helping the key indices set new records.

Stocks rose for five consecutive days yesterday, taking the main index of the premier bourse to a new high.

A persistent rise in share prices amid the current bull run on the stock market has posed risks to investors, especially the small-scale ones, as rumour-mongers and manipulators could use the situation to make illicit gains, experts said.

The Dhaka bourse scaled new heights yesterday, crossing 7,000 points as buoyant investors increased their bets in hopes that the market would maintain its upward trend in the coming days.