Staff Reporter :
Despite strong criticism from the finance adviser and the continued decline in the stock market’s share prices, investors remain interested in ‘Z’ category shares.
The Bangladesh Securities and Exchange Commission (BSEC) has implemented several initiatives to stabilise the market.
These include forming a task force, holding meetings with stakeholders, imposing unprecedented fines, and engaging with top executives and directors of listed companies.
Additionally, the government has provided a Tk 3,000 crore loan to the Investment Corporation of Bangladesh (ICB) at a low interest rate to support the market. However, these measures have yet to reverse the downward trend.
Market analysts emphasise the need for collective efforts from all stakeholders and suggest that significant investors must work to restore confidence in the market.
Md Saiful Islam, president of the DSE Brokers Association (DBA), attributed the continued interest in ‘Z’ category shares to syndicate activities. He noted that despite criticism, investors remain drawn to these shares.
Several ‘Z’ group companies experienced notable price increases yesterday. They are Khulna Printing & Packaging: Share price rose from Tk 7.20 to Tk 7.90 (+9.72 per cent), Fortune Suze: Share price increased from Tk 15.60 to Tk 17 (+8.97 per cent), Bay Leasing: Share price climbed from Tk 6.40 to Tk 6.90 (+7.81 per cent), Olympic Accessories: Share price advanced from Tk 6.50 to Tk 7 (+7.69 per cent), Central Pharma: Share price grew from Tk 8 to Tk 8.60 (+7.50 per cent), Lub-Ref: Share price rose from Tk 12.70 to Tk 13.50 (+6.30 per cent), Sharp Industries: Share price increased from Tk 20.80 to Tk 22 (+5.77 per cent), Fur Chemical: Share price climbed from Tk 20.10 to Tk 21.20 (+5.47 per cent), Safco Spinning: Share price advanced from Tk 8.20 to Tk 8.60 (+4.88 per cent).
Other shares, including BD Thai, New Line Clothing, Mithun Knitting, and Tallu Spinning, also posted gains between 4.26 per cent and 4.76 per cent.
While criticism of the ‘Z’ category persists, the continued investor interest highlights the complexities of market dynamics and the influence of syndicate activities. Stability, analysts suggest, will depend on collective action and the confidence of large investors.
