REVIVING SHARE MARKETS

Scheduled commercial banks to invest by next week: Kamal

DSEX extends free-fall amid coronavirus concern

Scheduled commercial banks will invest in the stock market of the country by next week to support and to promote bourses, said Finance Minister AHM Mustafa Kamal.

He urged investors not to sell shares at a low prices being panicked by the outbreak of COVID-19. The minister said all scheduled banks must support the stock market.

The finance minister was briefing media after a view exchanging meeting with the officials of Association of Bankers, Bangladesh (ABB) and the Bankers’ Association of Bangladesh (BAB) in the capital yesterday.

“The market was running well before the coronavirus outbreak. Indices touched nearly 5000 points. Now we need support from everyone to overcome the prevailing situation. Banks will provide support as per their capacity. All banks will invest in the capital market,” said Finance Minister AHM Mustafa Kamal.

“We urged the banks to support the market. We will take every possible measure to make the market stable,” he added.

“This coronavirus put us in a challenging situation. Markets in China, Singapore and other countries have overcome the challenges already. We will also overcome this situation,” said the minister.

Earlier, the key index of country’s prime bourse, Dhaka Stock Exchange (DSE), DSEX extended its free-fall yesterday, hitting the newest low by losing 196 points and closed at 3,772 points.

The broad index, DSEX hit six years and five months low and closed at 3772.55 points with a sharp fall of 196.75 points or 4.95 per cent as nervous investors continued their sell-off amidst growing concern over the impacts of COVID-19 endemic.

Moreover, the two selective indices Blue chip DSE30 and Shariah index DSES also went down by 5.12 per cent or 1265.1 points and 5.65 per cent or 874.1 points respectively.

Investors said, as another three cases of COVID-19 were confirmed in the country yesterday as the falling trend of the stocks accelerated. Panicked investors sold their shares.

On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed at red extending the bearish streak of previous day.

CSCX declined by 350.84 points to stand at 7017.02 points. CASPI declined 4.75 per cent to close at 11,576.5 points.

At CSE, a total of 8,555,523 shares and mutual fund of 271 companies were traded. Of which, 25 issues advanced while 235 declined and 11 issues remained unchanged.

REVIVING SHARE MARKETS

Scheduled commercial banks to invest by next week: Kamal

DSEX extends free-fall amid coronavirus concern

Scheduled commercial banks will invest in the stock market of the country by next week to support and to promote bourses, said Finance Minister AHM Mustafa Kamal. He urged investors not to sell shares at a low prices being panicked by the outbreak of COVID-19. The minister said all scheduled banks must support the stock market. The finance minister was briefing media after a view exchanging meeting with the officials of Association of Bankers, Bangladesh (ABB) and the Bankers Association of Bangladesh (BAB) in the capital yesterday. The market was running well before the coronavirus outbreak. Indices touched nearly 5000 points. Now we need support from everyone to overcome the prevailing situation. Banks will provide support as per their capacity. All banks will invest in the capital market, said Finance Minister AHM Mustafa Kamal. We urged the banks to support the market. We will take every possible measure to make the market stable, he added. This coronavirus put us in a challenging situation. Markets in China, Singapore and other countries have overcome the challenges already. We will also overcome this situation, said the minister. Earlier, the key index of countrys prime bourse, Dhaka Stock Exchange (DSE), DSEX extended its free-fall yesterday, hitting the newest low by losing 196 points and closed at 3,772 points. The broad index, DSEX hit six years and five months low and closed at 3772.55 points with a sharp fall of 196.75 points or 4.95 per cent as nervous investors continued their sell-off amidst growing concern over the impacts of COVID-19 endemic. Moreover, the two selective indices Blue chip DSE30 and Shariah index DSES also went down by 5.12 per cent or 1265.1 points and 5.65 per cent or 874.1 points respectively. Investors said, as another three cases of COVID-19 were confirmed in the country yesterday as the falling trend of the stocks accelerated. Panicked investors sold their shares. On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed at red extending the bearish streak of previous day. CSCX declined by 350.84 points to stand at 7017.02 points. CASPI declined 4.75 per cent to close at 11,576.5 points. At CSE, a total of 8,555,523 shares and mutual fund of 271 companies were traded. Of which, 25 issues advanced while 235 declined and 11 issues remained unchanged.