The exception is Navana CNG

The Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, has lifted the floor price (minimum price limit) from the company after a long year. Effective today from Thursday. Capital market investors take the matter well. As a result, shares of 61 companies fell on the first day. The only exception was Navana CNG. The price of this company has gone up.

At the close of trading on Wednesday, the securities of about 110 companies were on the floor price. However, the commission picked up the floor price from 66 companies which were below Rs 50. Whose market capitalization is close to 5 percent.

So that even if the prices of those companies fall, the market would not be affected, the commission thought. In the light of which the companies take the floor price. But the commission did not take into account the negative impact of the fall in prices on other companies. So that the capital market has fallen today.

It was seen that out of 66 companies 63 traded, 61 fell today. And the price of Navana CNG has gone up and the price of RN Spinning has remained unchanged. The shares of the remaining 3 companies were not traded due to record date and suspension order.

Shares of Golden Harvest were closed today due to record dates. In addition, shares of BD Services have not been traded for a long time due to the absence of sellers and the stock exchange has stopped trading of shares of People’s Leasing for a long time.

Many are criticizing BSEC for raising the floor price at an inopportune time. At a time when the market was trading at Rs 1,500-2,000 crore and the index was booming, many felt that the floor price could have been withdrawn. And at the moment, many people think that the lifting is whimsical.

Sunbd/NJ