Buoyed by a slew of measures to lift the stock market, turnover at the Dhaka Stock Exchange's hits Tk 8.03 billion as trading approached end on Tuesday, far surpassing Tk 5.19 billion worth of transaction the day before.
The refreshing uptrend, continuing for the past couple of days, came after the bourse authority and the National Board of Revenue declared moves to prop up the wilting market following meetings with the prime minister and the finance minister positively.
The turnover stood at Tk 8.03 billion with gainers heavily outnumbering losers by 250 to 8 at Tuesday's closing, adding 274.28 points or 5.15 percent to the general index which stood at 55596.96 points.
On Monday, the DSE decided in a meeting that the sponsor directors of all listed companies have to hold at least 30 % stakes, and those below the level must buy back their shares within six months. It also decided to dissolve all but audit and demutualisation committees.
The National Board of Revenue said that a clarification has been sent to the market regulators Securities and Exchanges Commission (SEC) that confirms the decision taken at a meeting with the prime minister on Wednesday about not questioning source of funds invested in the market and that undisclosed income can be freely invested. The decisions came after the indices plunged to new lows over the past week leading to streets protests and then intervention from the prime minister. On Wednesday night, Sheikh Hasina chaired a high-profile meeting that resulted in decisions to prop up the prices.
On Monday, turnover at the Dhaka Stock Exchange crossed the Tk 5 billion-mark with the general index gaining slightly on a selling spree, apparently buoyed by the news of the incoming capital market stimulus package. At closing, the turnover stood at Tk 5.19 billion exceeding last day's high by Tk 440 million and hitting the highest since trading resumed after the nine-day recess for Eid-ul-Azha.
The refreshing uptrend, continuing for the past couple of days, came after the bourse authority and the National Board of Revenue declared moves to prop up the wilting market following meetings with the prime minister and the finance minister positively.
The turnover stood at Tk 8.03 billion with gainers heavily outnumbering losers by 250 to 8 at Tuesday's closing, adding 274.28 points or 5.15 percent to the general index which stood at 55596.96 points.
On Monday, the DSE decided in a meeting that the sponsor directors of all listed companies have to hold at least 30 % stakes, and those below the level must buy back their shares within six months. It also decided to dissolve all but audit and demutualisation committees.
The National Board of Revenue said that a clarification has been sent to the market regulators Securities and Exchanges Commission (SEC) that confirms the decision taken at a meeting with the prime minister on Wednesday about not questioning source of funds invested in the market and that undisclosed income can be freely invested. The decisions came after the indices plunged to new lows over the past week leading to streets protests and then intervention from the prime minister. On Wednesday night, Sheikh Hasina chaired a high-profile meeting that resulted in decisions to prop up the prices.
On Monday, turnover at the Dhaka Stock Exchange crossed the Tk 5 billion-mark with the general index gaining slightly on a selling spree, apparently buoyed by the news of the incoming capital market stimulus package. At closing, the turnover stood at Tk 5.19 billion exceeding last day's high by Tk 440 million and hitting the highest since trading resumed after the nine-day recess for Eid-ul-Azha.
