Bailout by BB
Stock market sees nominal gain thru’ fluctuations
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In a latest development the central bank Thursday decided to give merchant banks more time to adjust single-party exposure limit in a bid to help out the drooping capital market.
The new deadline is yet to be fixed. As per the current deadline merchant banks have to bring down such exposure to 15 percent of their paid-up capital by December 30.
But initiatives taken by authorities concerned in recent times are “not enough to salvage the stock market by restoring the investors’ confidence,” some market analysts told banglanews.
They suggest the government should come up with effective and concrete measures in boosting the market as it is imperative to save the stock market for the sake of the country’s economy.
In the latest turnaround, the benchmark general index of the DSE gained over 5 points to close at 5,966.
The volume of transactions stood at Tk 295 crore while trade deals at 71, 888.
Of the issues traded, 102 advanced, 133 declined and 17 remained unchanged.
MPETROLEUM topped the turnover list with shares worth Tk 241 million having changed hands.
The other turnover leaders were BEXIMCO, LAFSURCEML, CMCKAMAL, GP, BXPHARMA, MALEKSPIN, MICEMENT, CITYBANK and UCBL.
Chittagong stocks also followed suit, with the CSE Selective Categories Index climbing up to 10,820 by gaining 4 points. The volume of transactions stood at Tk 37 crore.
Out of the issues traded on the day, 79 gained, 74 declined and 21 remained unchanged.