Staff correspondent
Dhaka stocks suffered a massive crash on Sunday, and a number of private investors, uncertain about the effectiveness of the capital market stimulus package announced by the Securities and Exchange Commission and its implementation, to go on the road.
The General benchmark index of the Dhaka stock exchange, or DGEN, is to close 5.73 percent on the day to 5,065.17 points.
Private investors staged a demonstration before the DSE building in Motijheel demanding immediate implementation of the commitments made by Prime Minister Sheikh Hasina a week ago.
"We have on the Prime Minister ensure stabilization of the market and announces a mechanism for the recovery of the capital losses, which were by the retail banks." But the SEC has failed
Give such measures in the package Bail-Out' Bangladesh capital market investors Council President Mizanur Rashid Chowdhury, said.
He said if the announced measures really help, the market would then immediately to prove them to the Government, should implement its effectiveness.
Also, he claimed that "a vested quarter is deliberately spreading panic through the bulk import sale of shares and the SEC should identify".
If the market is not stabilised in the next two days, starts the small investors, he announced a tough program.
The DSE building and a human chain gathered made about 14: 10 investors from various brokerage firms. They chanted slogans against Finance Minister Abul Maal Abdul Muhith, Bangladesh Bank Governor Atiur Rahman and DSE President Shakil Rizvi.
The demonstrators brought also a series of processions at regular intervals, presented by the Shapla square, Ittefaq intersection. The demonstration of the company ended at 16: 00 at the investment company: Bangladesh.
The day saw also the turnover of the stock exchange previous trading session fell to TK 451.43 crore of the TK 530.92 crore in the.
Market participants said that the reduced turnover pointed out that institutional investors still on the market be active.
"Stimulus package could not fully expectations of investors and we saw the result today," Salahuddin said Ahmed Khan, Professor of finance at the University of Dhaka, new age.
He said: "the market bail out package modifies not the scenario within a day or two and investors need to understand that."
Said the Professor, also a former Chief Executive Officer of the DSE, some relief would offer the measures announced for the banks, but she would be increasing their share of the market before the close December unable.
The SEC, in accordance with the Prime Minister instructions, announced on Wednesday a 21-point economic stimulus package with short, to stabilize Central and long-term measures to increase the participation of banks and their financial institutions to the market.
The short-term measures of the package include loosening the banks exposure system calculation and expand their individual borrowers exposure period. The income tax of imposed on foreign institutional investors and non-residents Bengali include the stimuli also retreat.
"The investors have an overnight change after the announcement of the stimulus package expected." Implementation of the measures announced will take some time, but ' DSE President Shakil Rizvi said new age.
He advised retail investors not to panic and go for long term investment and trading plan.
SEC officials refused any comment on the market situation on Sunday to make.
The DGEN won 947 points in four trading days last week after Prime Minister Sheikh Hasina intervention to stability on the market get, after the index jump a 560-point in three days since the resumption of share trading on the DSU after Eid holiday.
The 254 issued traded on Sunday, only seven advanced, with all remaining 247 bag suffer a decline.
Source: newagebd.com/newspaper1
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