DSEX jumps 1.56% due to floor price adjustment
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), jumped by 1.56% or 93 points to reach 6,073 during the first trading hour on Sunday as a result of floor price adjustment, set by the securities regulator to curb further fall.
On Thursday, the Bangladesh Securities and Exchange Commission (BSEC) reintroduced the price floors for individual securities to stop the market from going further down as the key index hit a 14-month low at 5,980.
The average closing price of Thursday and its four preceding sessions would be the floor price for individual scrips, the commission said in the afternoon. That means, no scrip can be traded below the floor price.
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According to market insiders, some 346 scripts reported an increase today following the floor price adjustment, which has helped to push the index up.
However, daily turnover at the DSE still remained low due to the absence of buyers.
Meanwhile, Chittagong Stock Exchange's all share price index CASPI also surged by 225 points during the first hour of trading.
