Stock Market

Stocks opened sharply higher on Sunday with the key index of the major bourse crossing the 7,000-mark as buoyant investors continued their buying spree on major sector issues riding on regulatory moves.

Stocks of Tamijuddin Textile Mills have skyrocketed tenfold in a span of less than three months since it was relisted at the Dhaka bourse last June.

If proper returns from the stock market can be ensured, people from all over will be encouraged to park their savings and remittance at the country’s bourses, according to Professor Shibli Rubayat Ul Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC).

Bangladesh stocks have continued their foray into new territory, ending yesterday with a new high amid increased participation of buoyant investors.

Stocks opened on a flying note on Wednesday, with the key index of the major bourse crossing the 6,900-mark in early trading, as buoyant investors put fresh bets on major sector shares amid positive expectations.

The Bangladesh Securities and Exchange Commission on Sunday decided that it would fine state-run ICB Securities Trading Company Limited, a subsidiary of the Investment Corporation of Bangladesh, Tk 5 crore if the company fails to address a number of rule violations by September 30.

The stock market maintained its downward trend yesterday, marking three days of decline as cautious investors opted to take their profits when the benchmark index of the country’s premier bourse recently hit a record high.

The securities regulator turned down the listed companies’ association plea for waiving payments of accrued interest gained from undistributed dividends or un-refunded public-subscription funds.

Asian markets fell Thursday as hopes for the global recovery and signs of a possible slowdown in new virus infections play off against the prospect of an end to Federal Reserve

Stocks witnessed a positive trend on Thursday, after the previous day’s mild correction, as bargain hunters remained in a buying mood on sector-wise issues.