Photo : Messenger
Top broker representatives of the country at a meeting have indicated that the stock market will return to normalcy very soon as they find no significant reason for deteriorating the market further.
According to them, the country’s macroeconomic condition is much better now compared to the past, and hence this will be reflected in the capital market soon.
Besides, there is already some price adjustment since lifting the floor price from the market, which they termed normal.
While addressing the discussion meeting, DSE Brokers Association of Bangladesh (DBA) President Saiful Islam has expressed optimism that the much-talked-about floor price will not be imposed again in the country’s capital market.
He came up with this optimism on Tuesday during a discussion with the representatives of the top 30 brokerage houses regarding the prevailing capital market situation.
The representatives who participated in the event talked about seven much-discussed issues with regard to the recent market situation.
The seven issues highlighted were - a rumour in the market that says floor price may be imposed again on share price, which is 100% false and baseless, as the DBA does not think that there will be a recurrence of the floor price.
Secondly, the prevailing Margin Rules-1999 needs to be modernised and reformed. Thirdly, good companies should be listed through initial public offering (IPO). Proper compliance of all laws and regulations should be ensured in case of company listing.
It was also said that emphasis should be placed on mutual funds to reduce dependence on banks for investment. The number of mutual funds should be increased. It is logical to categorise companies based on their capital size rather than their dividend.
It was also said in the meeting that any company should not increase its share in any other way without informing the common shareholders, sponsor shareholders or any other category of shareholders and should resolve the issue of double taxation.
However, in the future, in the overall interest of the market, the representatives have raised some demands, the implementation of which will bring positive changes in the market and the market will be stable and sustainable in the long run.
The meeting was attended by former President of DBA and Director of DSE Sharif Anwar Hossain, Richard D'Rozario, former President of DBA Ahmad Rashid Lali, Managing Director of BLI Securities Minhaj Mannan Imon, CEO of Beximco Securities Mustafa Zamanul Bahar and others.
The DBA president concluded the meeting by thanking all those remaining present in the discussion and asking for responsible behaviour towards the market.
He also advised investors to invest without listening to any rumours, and urged them to have faith in the market.
Messenger/Disha
