The DSE Brokers’ Association (DBA) recently held a meeting to discuss the current state of the stock market, where they expressed optimism about the market’s future despite the ongoing challenges. The association stated that the recent price adjustment of stocks following the lifting of the floor price barrier is a normal occurrence in the market.
During the virtual meeting, the broker representatives highlighted that the market is expected to return to normalcy soon as the country’s economy is showing signs of improvement. They also proposed several initiatives to ensure the long-term stability and sustainability of the market.
One of the key points raised by the representatives was dispelling rumors about the re-imposition of the floor price on share prices, which they deemed as false and baseless. They also emphasized the need to modernize and reform the current Margin Rules-1999, as well as to encourage the listing of good companies in the IPO market with proper compliance with laws and regulations.
Furthermore, the representatives suggested reducing dependence on banks for investment by focusing on mutual funds and categorizing companies based on their capital size rather than dividends. They also stressed the importance of transparency in share issuance and resolving the issue of double taxation promptly.
The meeting was moderated by DBA President Saiful Islam and attended by prominent figures in the stock market, including DSE Director Sharif Anwar Hossain and BLI Securities Managing Director Minhaj Mannan Emon.
Despite efforts to ensure stability by the regulator, the Dhaka Stock Exchange witnessed a significant decline on Tuesday, with the benchmark index DSEX losing 84 points to close at 5,814. This marked the eighth consecutive day of decline, leading the DSEX to hit a 35-month low. Turnover also decreased, with 319 stocks dropping, 41 advancing, and 36 remaining unchanged.
The DBA’s proactive approach and proposed initiatives aim to address the current challenges in the stock market and pave the way for a more resilient and prosperous future. Investors and stakeholders will be closely monitoring the implementation of these suggestions to gauge the market’s response in the coming days.
