Stocks jumpstart after finance minister called for support
After the finance minister instructed regulators to help stabilise the stock market and Bangladesh Securities and Exchange Commission (BSEC) extended the margin loan facility on Sunday, the bourses opened Monday's trading with a jumpstart.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), opened the session today around 55 points higher than the previous one which closed at 6,142.
In the first 90 minutes, the index surged by 1.83% to over 6,250.
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Against 344 gainers, the DSE had only 16 losers while the price of 12 scrips remained unchanged.
Meanwhile, turnover in the premier bourse was in line with the pace of the previous session.
The securities regulator on Sunday said that brokers and merchant banks can now give margin loans up to 100% of their client's own equity, up from 80%.
Following a 7.7% fall of DSEX in May amid the turbulent macroeconomic situation, the central bank announced to double up its revolving funding for the Investment Corporation of Bangladesh to TK300 crore so that it can disburse more concessional margin loans to small investors
