Stocks in green as market participation grows

The indices of the country's two main bourses have traded in the green during the first one-and-half-hour session today as the number of investors' participation has increased following the minimum shareholding ultimatum by Bangladesh Securities and Exchange Commission (BSEC).

Earlier, the securities regulator issued a letter to sixty one directors of twenty-two listed companies, who failed to maintain the mandatory rule of holding a minimum two percent of shareholding of their companies' paid-up capital, as per the securities laws.

BSEC issued a 45 working days ultimatum to ensure shareholding rules for the directors in order to continue their directorships, otherwise they would be removed from the related company's board.

According to several brokerage house officials, those directors are now going to buy shares within the 45-day time frame in order to comply with the law, as per the securities regulator's directive. Such movement will boost the investors' confidence.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), upturned by 3.03 points – or 0.07 percent - to reach at 3,997 till 11:30 am.

Moreover, the Shariah-based DSES index gained 0.96 points to settle at 922, and the blue-chip index DS30 gained 2.52 points to stand at 1,345.

Turnover on the DSE trading floor has jumped by 44 percent to Tk67.43 crore in the first session.

Out of the 267 issues traded during the same time frame, only 32 company's share prices advanced, 44 declined, and 191 remained unchanged.

Meanwhile, the benchmark index CASPI at the Chittagong Stock Exchange (CSE) has risen 27.85 points to close at 11,366.