Stocks
BSEC Chairman Highlights Profit Potential in Volatile Market
The Bangladesh Securities and Exchange Commission (BSEC) Chairman, Professor Shibli Rubayat-Ul-Islam, stated at a seminar organized by the Reporters’ Forum (ERF) on Tuesday (July 11) that there is more profit potential when the market is volatile. He explained that when the market is stable and performing well, the chances of making profits decrease.
According to the BSEC Chairman, many investors approach him to inquire about when the floor price will lift. He clarified that he is not in favor of manipulating the floor price. However, due to the Ukraine-Russia conflict, he had to impose restrictions on the floor price to safeguard the interests of investors.
He expressed his desire to lift the floor price and emphasized that he would lift it as quickly as possible. However, certain conditions need to be met in the market to justify increasing the floor price. If investors’ funds are secure, he will lift the floor price.
The event was inaugurated by the Editor-in-Chief of the ERF, Abul Kashem, and chaired by Refayet Ullah Mirdha, the President of the organization. The main article was presented at the seminar by Mohammad Mofazzal, a member of the ERF.
During this time, Chairman of the Dhaka Stock Exchange (DSE) Hafiz Mohammad Hasan Babu, Chairman of the Chittagong Stock Exchange (CSE) Asif Ibrahim, Chairman of the Capital Market Stabilization Fund, Najibur Rahman, Chairman of NRB Commercial Bank SM Parvez Tamal, and President of the Asset Management Company and Mutual Fund Association, Hasan Imam, were present at the event.
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has called on investors to consider increasing their participation in the capital market in anticipation of the economic upswing following the forthcoming national election.
Expressing confidence in the current political stability, he noted that this is an opportune time for savvy investors to bolster their capital market portfolios. The Chairman emphasized his optimism for a revitalized capital market post-election and pledged to ensure that vested interests do not disrupt market dynamics.
Despite global economic fluctuations due to the COVID-19 pandemic and the Russia-Ukraine conflict, Bangladesh’s capital market has remained relatively stable. Rubayat-Ul-Islam also reassured investors that the BSEC is working diligently to protect their interests amid challenging times.
In response to concerns about the country’s foreign currency reserves, Chairman Rubayat-Ul-Islam highlighted the strategic allocation of foreign currency toward industrialization and infrastructure development. He emphasized that this allocation would yield substantial benefits for Bangladesh in the near future. The BSEC’s unwavering commitment to regulatory enforcement has contributed to bolstering investor confidence. The Commission’s legal, monitoring, and surveillance units remain vigilant, making it increasingly difficult for any malicious actors to engage in market misconduct.
Furthermore, Bangladesh has gained recognition as an attractive global investment destination, with numerous research organizations publishing positive reports on the nation’s economic development. This reputation has piqued the interest of investors worldwide.
The S&P 500 and NASDAQ experienced weekly drops of approximately 3% to 4%, marking their third consecutive week of declines. These losses were primarily triggered by significant downturns during Wednesday afternoon and Thursday, following the latest U.S. Federal Reserve meeting.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 8 points, reaching a closing value of 13,219 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, losing 32 points to settle at 4,288 points. Meanwhile, DJIA Index experienced a notable shed, diving by 456 points during the week and concluding at 33,507 points after a week of lose.
In contrast, Russell 3000 Index saw a loss in week performance, with a loss of 13 points to reach 2,462 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 9 points, ending the week at a steady 1,785 points.
In the Outgoing week, the European stocks market displayed a negative performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a loss of 3.04 points to close at 450.22.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 75 points or finishing the session at 7,608.
In Germany, the DAX 30 index, dropped by 171 points to reach 15,386, while France’s CAC 40 decreased by 49 points to stop at 7,135 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, losing 332 points to 28,243. However, Spain’s IBEX 35, dived by 74 points, to close at 9,428.
