The Dhaka Stock Exchange's benchmark general index shot up 250 points in the first two hours and a half minutes of trade on the day after the bourse authority and the National Board of Revenue declared moves to prop up the wilting market and has been on the rise since then.
The general index spiked to 5573 points at 1.23 pm on Tuesday. At the end of the first trading hour, it added another 55 points to stand at 557.55 points with prices of 237 issues rising, only two falling and three remaining unchanged.
A flurry of trading also occurred in the period, pushing up the turnover to Tk 508 billion at 1.25 pm.
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 SEC declared on Sunday night following a meeting of capital market stakeholders and the finance minister that a 'complete package' to recover and stabilise the shaky market and guard the interests of retail investors will be announced within few days.
The general index spiked to 5573 points at 1.23 pm on Tuesday. At the end of the first trading hour, it added another 55 points to stand at 557.55 points with prices of 237 issues rising, only two falling and three remaining unchanged.
A flurry of trading also occurred in the period, pushing up the turnover to Tk 508 billion at 1.25 pm.
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 SEC declared on Sunday night following a meeting of capital market stakeholders and the finance minister that a 'complete package' to recover and stabilise the shaky market and guard the interests of retail investors will be announced within few days.
