BSEC intervention prevents market free fall
After nine days of a somewhat bear run, indices of both the stock exchanges of the country ended in the green on Thursday, thanks to intervention of the market regulator setting a price floor to break the free fall.
The key index of the Dhaka Stock Exchange, DSEX, advanced 50.3 points to settle at 6,238 on Thursday.
But investor participation is still low and remains on the sidelines due to worries over the global economic outlook.
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On Wednesday, the Bangladesh Securities and Exchange Commission (BSEC) again imposed interim circuit breaker rules with a lower limit of 2% with a view to restoring market confidence.
EBL Securities in its daily market commentary said, owing to the regulator's direction, the market tumbled at the beginning of the day but the late hour optimism helped the DSEX end in green territory.
Market insiders said, in the last one hour of trading, the state-owned Investment Corporation of Bangladesh (ICB) came up with fresh investment, which helped the market gain 50 points.
On Thursday, DSE's turnover advanced 5.1% to Tk540 crore, which was Tk510 crore in the previous trading session.
Of the 385 issues traded, 273 advanced, 61 declined, and 51 remained unchanged.
The port city bourse, Chittagong Stock Exchange (CSE), also settled in the green.
The selected indices (CSCX) and the All Share Price Index (CASPI) have advanced 70.4 points and 118.4 points respectively.
