The Securities and Exchange Commission (SEC) has advised investors not to panic because of continuous fall in share prices.
After full seven successive sessions of fall in the stock prices, the regulator on Tuesday said, "We are keeping an eye on the capital market."
The SEC's statement came at a press briefing hastily called after angry investors took to the streets to protest the general index's fall of around 175 points at the Dhaka Stock Exchange (DSE).
The investors demanded resignation of the finance minister and the Bangladesh Bank governor for 'their failure to control the market'. They also demanded prime minister's interference to stabilise the market.
Many of the speakers at a rally held in front of the DSE by the Bangladesh Investors Union Council blamed the SEC's announcement on filing of cases against those named in a probe report on the Dec-Jan stocks scam. They said because of the announcement, some key players were suddenly maintaining distance from the market, causing greater fall in the last three days.
"The investors don't need to panic for this. We're monitoring the market," he said.
CASES AGAINST SCAM ACCUSED
"A committee was formed to protect the investors' interest. Steps have been taken to file cases against some people following the panel's proposal," SEC executive director Saifur Rahman told the press briefing.
Asked when the cases would be filed, he said, "The process is underway. We are going to appoint lawyers and need to give final touches to the documents for the purpose."
However, given the tone and tenor of Saifur Rahman, also the official spokesman of the SEC, it looks most unlikely that 'it can happen anytime' before next or the week after that.
The DSE general index shed 174.65 points or 2.74 percent to close at 6192.94 points.
Of the issues traded at DSE, only 12 gained 241 declined and three remained unchanged.
The turnover stood at Tk 8.42 billion.
After weeks of uptrend early last month, the prime bourse of the country again saw fall on Monday, the sixth consecutive day.
Market analysts, however, termed the downturn as 'routine correction'.
Trading at DSE has been rescheduled for Ramadan and now continues from 10:30am to 1:30pm.
After full seven successive sessions of fall in the stock prices, the regulator on Tuesday said, "We are keeping an eye on the capital market."
The SEC's statement came at a press briefing hastily called after angry investors took to the streets to protest the general index's fall of around 175 points at the Dhaka Stock Exchange (DSE).
The investors demanded resignation of the finance minister and the Bangladesh Bank governor for 'their failure to control the market'. They also demanded prime minister's interference to stabilise the market.
Many of the speakers at a rally held in front of the DSE by the Bangladesh Investors Union Council blamed the SEC's announcement on filing of cases against those named in a probe report on the Dec-Jan stocks scam. They said because of the announcement, some key players were suddenly maintaining distance from the market, causing greater fall in the last three days.
"The investors don't need to panic for this. We're monitoring the market," he said.
CASES AGAINST SCAM ACCUSED
"A committee was formed to protect the investors' interest. Steps have been taken to file cases against some people following the panel's proposal," SEC executive director Saifur Rahman told the press briefing.
Asked when the cases would be filed, he said, "The process is underway. We are going to appoint lawyers and need to give final touches to the documents for the purpose."
However, given the tone and tenor of Saifur Rahman, also the official spokesman of the SEC, it looks most unlikely that 'it can happen anytime' before next or the week after that.
The DSE general index shed 174.65 points or 2.74 percent to close at 6192.94 points.
Of the issues traded at DSE, only 12 gained 241 declined and three remained unchanged.
The turnover stood at Tk 8.42 billion.
After weeks of uptrend early last month, the prime bourse of the country again saw fall on Monday, the sixth consecutive day.
Market analysts, however, termed the downturn as 'routine correction'.
Trading at DSE has been rescheduled for Ramadan and now continues from 10:30am to 1:30pm.
Sourc:Bdnews24
No comments:
Post a Comment