Brokers, investors bat for stocks stabilisation


Economic Reporter :
The consecutive fall of both stock markets, the benchmark index DSEX of the Dhaka Stock Exchange (DSE) on Tuesday dropped by 84 points, extending the bearish trend for eight straight sessions and hits 3-year low.

In this situation, DSE Brokers Association of Bangladesh (DBA) has placed seven points proposals for the stability of the stock market while the general investors also threatened to continue agitation to restored the normal environment of the market within the next 2-3 days.

DSE Brokers Association of Bangladesh (DBA) on Tuesday placed seven points proposal for the stability of the stock market and said that the rumor of re-imposing the floor price on the share price is false and baseless.

Leaders of the association said that the country’s macroeconomic condition is much better now than before.

They came up through a discussion and views exchange meeting with the representatives of the top thirty brokerage houses on the recent stock market situation on Tuesday.

‘There is no chance to repeat the floor price and existing Margin Rules-1999 must need to update and reformation’ quoting the DBA leaders said.

Good companies should be listed in the IPO market and proper compliance of all laws and regulations should be ensured in case of company listing, leaders said.


They also said that mutual funds should be emphasized to reduce bank dependency in investment and the number of mutual funds should be increased.

Leaders emphasized to categorize the companies based on their capital size rather than their dividend.

The DBA leaders also said that no company should increase its share in any other way without informing the common shareholders, sponsor shareholders or any other shareholders. They also demand to resolve the double taxation issue immediately.

DBA leaders said that there is no significant reason to deteriorate the market conditions and they said that removing the floor from the share price already results in some price adjustment which is a normal process.

In the meeting, Lankabangla Securities, UCB Stock Brokerage, City Brokerage, BRAC EPL Stock Brokerage, Bank Asia Securities, Shelltech Brokerage, Shanta Securities, IDLC Securities, EBL Securities, United Financial Trading Co., MTB Securities, ICB Securities Trading.

Company (BD), Sunlife Securities, Royal Capital, Prime Bank Securities, NRBC Bank Securities, United Securities, Shahjalal Islami Bank Securities, Island Securities, Mercantile Bank Securities, AIBL Capital Market Services, Globe Securities, AB Securities, Commerce Bank Securities and Investments, Fars Capital Securities, IIDFC Securities, NCCB Securities & Financial Services, Mica Securities, Akiz Capital Management and Premier Bank Securities Limited, were also attend.