September 27, 2022, 6:49 am

The stock market will turn around in a day or two: Shibli Rubaiyat

  • Update Time : Thursday, May 19, 2022
  • 32 Time View
The stock market will turn around in a day or two: Shibli Rubaiyat

Despite the big boom in the Sri Lankan stock market, which is in the throes of economic crisis, Bangladesh’s stock market is moving in the opposite direction. The Colombo Stock Exchange saw a big jump in all indices yesterday. Besides, the Indian stock market has turned around. But which way is the country’s stock market going, the question now for millions of investors. In the last three working days, investors are questioning the volatile behavior of the market in the wake of the sharp fall in the price of the index. The DSEX, the main index of the Dhaka Stock Exchange, lost more than 100 points and stood at a 10-month low. The index fell 255 points in three working days this week.

Moreover, despite four market-friendly decisions on the capital market issue at the BSEC-ICB bilateral meeting, many questions have been raised about the sharp fall in the index. Everyone’s question now is that the country’s stock market is moving in the opposite direction again. An invisible force is at work in the fall of the capital market. Market-friendly decisions should be made now in the interest of regulatory investors.

Otherwise, investors will face huge losses. However, due to the continuous fall in the stock market, investors have demanded a new minimum price or floor price for all shares, but the regulator BSEC has no such concern.

In such a situation of stock market, BSEC chairman Shibli Rubaiyat-ul-Islam told an online portal, “As much as the stock market has fallen, it will recover in a day or two.” None of the investors will sell the shares at a loss. Be patient, the market will be fine. Besides, there is no intention to give floor price.

I am trying to bring in foreign investment through road shows. I have been trying for six months to bring the market to this place. Foreign investors do not want to come if the floor price is given. This reduces foreign investment. They think the market is not stable. They want a fair market.
Shibli Rubaiyat-ul-Islam, chairman of the company, said such a decision discourages foreign investment. He also said that a huge amount of investment has come out due to lowering the maximum bid limit to 2 percent in March.

He added that many foreign investments have also been lost due to the reduction of circuit breakers to 2 percent during the Ukraine-Russia war. An estimated 12-13 thousand crore investment has gone. As a result, I don’t want to push back the market with floor price again. ‘

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