Stocks edge up as regulator allow time extension to adjust margin loan rate
Stockbrokers and merchant banks now have until 30 June instead of 1 February to adjust the margin loan rate at 12%
Indices of the both stock exchanges edged up as securities regulator allowed time extension for adjust margin loan interest.
Stockbrokers and merchant banks now have until 30 June instead of 1 February to adjust the margin loan rate at 12%.
Bangladesh Securities and Exchange Commission (BSEC) said it would not enforce compliance on stockbrokers and merchant banks until then.
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But no directive would be issued in this regard, said a BSEC official.
On 13 January, the commission set 12% as the maximum interest rate on margin loans. It was supposed to be adjusted within February.
In the first one and half hour trading session today, DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose by 0.90% or 51.54 points to settle at 5,766.
During this session, DSE turnover stood at Tk383.55 crore.
Beximco Limited leads the turnover chart with trading worth Tk77.33 crore and it's share price rose by 6.36% to Tk83.60 each.
Moreover, DSE shariah index DSES gain 0.39% to 1,284 points and blue-chip index DS30 rose 1.11% to 2,202 points.
During this session, 197 companies share price rose, while 65 issues fell and 85 issues price remain unchanged during the session at the DSE.
The benchmark index CASPI at the Chittagong Stock Exchange (CSE) jumped by 121 points to 16,710 till 11:30 am.
