Chairman of Bangladesh Securities and Exchange Commission, BSEC Professor Shibli-Rubayat-Ul Islam stated that there will be no chance of lifting the floor price.
He affirmed this information to Orthosongbad on Tuesday, September 18 from Morocco.
Rumors or Hearsays that the floor price is likely to go up, the country’s stock market has started to drop in a while. The BSEC chairman went to Morocco to attend the International Organization of Securities Exchange IOSCO meeting last Thursday.
On the previous day, the head of the Bangladesh Capital Market Regulatory Authority took charge of the vice chair of the organization.
As the BSEC chairman went abroad, a twist is once again spreading rumors about the floor price. Rumors are spreading in the stock market that the floor price should be carried away soon to keep pace with the international bourses.
The head of the regulatory agency believes that there is a chance to destabilize the capital market by breaking this rumor. He told Orthosongbad that the current commission will not take any decision that harms the common investors to save someone’s interest.
In the meantime, bourses continue to fall since the last working day of last week Thursday. According to the data of DSE, the main index of the Dhaka Stock Exchange, DSE fell by 12 points on Tuesday as well.
And on Monday ‘DSEX’ lost 65 points. The DSE’s main index fell by 100 points after 4 straight days of decline since the last closing workday, Thursday.
Bangladesh Securities and Exchange Commission, BSEC re-introduced the floor price in the stock market on July 28 to prevent continuous price deficit. The Dhaka Stock Exchange witnessed hikes in the price index on the next working day after the floor price was introduced.
On that day DSE’s flagship index ‘DSEX’ score 153 points, out of 382 companies that participated in the transaction on that day, the share prices of 362 companies increased. Also, after the implementation of the floor price, the market capitalization of the stock market increased by Tk 21 thousand crores in the first week.
While most shares remained unchanged at floor prices, relaxes returned to a section of investors. Hence, there are rumors that the floor price will be lifted from time to time among investors.
Just recently, a plot twist is trying to create a headache in the market by spreading such rumors. The issue of check cashing has been added to the rumors. However, due to irregularities in various brokerage houses through cheques, BSEC issued an order to buy shares in cash.
