Stock market now on life support !
Staff Correspondent: The country’s stock market has been in recession for more than a year due to the global crisis caused by the Russia-Ukraine war and the rise and volatility of the dollar. Common investors are constantly losing their invested capital due to falling prices. Investors are comparing the current situation of the stock market with ‘life support’.
They say that the stock market is now on life support. Death can happen at any time.
Death can happen at any time. Doubt whether or not there is death inside!
It has been found that after the Russia-Ukraine war and the increase in dollar value, the branch offices of seven brokerage houses located in Barisal are in crisis of existence. Those in charge of the houses said that earlier when the stock market was good, Tk 2,000 to Tk 3,000 crore were traded daily. Now that transaction has reduced to Tk 3,00crore to Tk 400 crore.
Jasim Uddin, an investor in UCB Stock Brokerage Limited, said, I have been sitting stubbornly for a long time hoping that the stock market will improve. But now I see the opposite. Only prices are going down. I can’t see the face of profit anymore.
Another investor of UCB Stock Brokerage Limited, Anwar Hossain, told that the share market seems to be on life support in its current state. Death can happen at any time. Doubt whether there is death inside or not.
He added, “I don’t remember the last time we saw a profit since the fall in prices.” In this ongoing situation, we are sitting almost as fakirs.
Moin Uddin, an investor in Lankabangla Securities Limited, said that ordinary investors like us are becoming destitute due to continuous price decline. This is increasing panic among investors. Many are selling shares.
Several investors of ICB Stock Brokerage Limited, Al-Arafah Brokerage Limited, Longkabangla Securities Limited, Stock and Bond Securities Limited and M Securities Limited said almost the same thing.
An officer in charge of Lankabangla Securities Limited said on condition of anonymity that all stock exchange brokerage houses are similarly affected as a result of the fall in the stock market. All the big and small brokerage houses are suffering due to the ongoing fall in prices. In such a situation, it is difficult to pay the expenses of the office and the salaries of the officers and employees.
Mohsin Uddin Ahmed, in-charge of UCB Stock Brokerage Limited, told that the stock market has been falling for more than a year. As a result, the brokerage houses are in a very bad shape. Even in this situation, the cost of the houses does not stop.
He also said that the market is good for three-four months of the year but the rest of the time is bad. For example, there is no trade as a result of the price drop for a few days. Moreover, the companies have been making losses ever since the appreciation of the dollar. In this situation, if the company is damaged, how will it give profit to the investors? Dollar price increase and dollar crisis are the main reasons for the fall in the stock market.
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