Photo : Collected
A vested quarter is out to influence the market by spreading rumours about various issues on different occasions, which affects the capital market as well as the investor perspectives, this paves the way for the vested quarter to take unfair advantage.
Saying these, Commissioner Dr Sheikh Shamsuddin Ahmed of the Bangladesh Securities and Exchange Commission (BSEC), the regulatory body of the capital market, has suggested the investors not to listen to rumours to protect the market from such rumours.
He held an urgent meeting with Dr ATM Tarikuzzaman, Managing Director of Dhaka Stock Exchange (DSE), about rumors.
Sources in the meeting said BSEC and DSE will jointly counter any kind of rumour-mongering attempt. Both institutions are strongly committed to accelerating the stock market and protecting the best interests of the investors.
Recently, various stories are being told regarding a so-called conflict between the DSE and the BSEC. Commissioner of BSEC Sheikh Shamsuddin in this regard said these are all baseless and rumours. DSE managing director ATM Tarikuzzaman also gave the same opinion.
The country’s stock market has had a negative impact recently due to the rumours spread on the social media Facebook group. Almost every time various rumors about the stock market are spread and destabilised by vested interests. Just a few days ago, rumors about the floor price created volatility in the market. Then a cycle of rumors destabilizing Z category shares.
Not being able to overcome it, new rumours have spread. Different types of baseless rumours are being circulated about the conflict between the regulatory body BSEC and DSE. Along with that, there are rumors that the chairman of BSEC is not staying in the commission. Spreading such rumors is destabilizing the market. However, this issue is confirmed as always as a rumor. Meanwhile, a kind of rumour is also spread about the trading time in the stock market during the ongoing holy Ramadan.
Usually, the stock exchange can determine the trading hours. But the regulatory body has to be informed. Since there are two stock exchanges in the country, it is convenient that both have the same trading hours. Otherwise, there may be problems with transactions, indices and prices. For this reason, the BSEC has fixed the time of transaction.
In this regard, Dr. Sheikh Shamsuddin Ahmed said, “We work for the overall interest of the market. Investors' interests are of paramount importance. The last three years have been a tough time amid Coronavirus. Everything remained closed, but at that time we tried to keep the market open.”
He also said there may be differences of opinion when it comes to work. “But we have to work according to the law.”
He said, “We have no distance with the DSE. The Commission and stock exchanges serve the same purpose for the stock market. Rumours will not be accepted in the interests of the market. There is no conflict between the two institutions. Both the organisations are working tirelessly simultaneously.”
Messenger/Disha
