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Stocks soar as trading will go on amid lockdown Star Business Report Star Business Report
Stocks soared by more than 100 points yesterday riding on hopes that trading would continue amid the current countrywide lockdown.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 107 points, or 1.78 per cent, to 6,150.48.
Following an unprecedented climb in Covid-19 infections, the government recently announced a week-long strict lockdown from today.
After Bangladesh Bank decided that banking activities would continue on a limited scale during this period, the stock market regulator informed that the country s bourses would operate under similar conditions.
Before these decisions were made known, the Bangladesh Securities and Exchange Commission said the stock market would stay open during the lockdown if banks did too. As such, trading will now go on as usual until 1:00pm each day.
Just Tk 282 crore was whitened by means of investments in the stock market in fiscal 2020-21 despite a government provision stipulating that no authority would be able to question the source. [media type="image" id="936581" layout="small" position="right" caption="1"][/media] However, this is just 1.95 per cent out of a total of Tk 14,459 crore of undisclosed money legalised
Stocks rise for eighth day
Star Business Report
Star Business Report
Stocks have continued to rise for the last eight days of trade due to increased participation of investors despite the coronavirus pandemic.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose 63 points, or 1.16 per cent, to stand at 5,498.21 yesterday.
There are many reasons behind the recent jump of the market despite the ongoing pandemic, said Sayedur Rahman, president of Bangladesh Merchant Bankers Association.
The world stock market is in a peak position amidst the pandemic and even the Indian market is also at a high level, he said, adding that India was witnessing a devastating deterioration of the pandemic.
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