Capital market now stable : Muhith14 March 2014 bdnews24.com
The capital market is now 'stable' due to the government's efforts to bring it back on an even keel since its crash in Dec 2010, Finance Minister AMA Muhith has claimed.
Muhith's claim, however, sharply contrasted with the data of Dhaka Stock Exchange, the prime bourse.
"We have (also) taken the initiative for unanimously demutualising the stock exchange," he said while presenting a report on budget implementation from July to Sept in Parliament on Wednesday.
Bangladesh Securities and Exchange Commission has also been upgraded to A Category. "A really strong capital market has been created," he said proudly.
According to the DSE data, buoyed by two years of bullish trend, share price indices rose to 8918 points on Dec 5, 2010, when Tk 32.49 billion was turned over, followed by a sharp crash.
Small investors took to streets prompting the government to reform the Securities and Exchange Commission. The government took various initiatives to prevent the fall of shares. But that had hardly worked out.
Dhaka Stock Exchange's All Shares Price Index was 4660 points, with a transaction of Tk 4.66 billion on Wednesday. The indices have been hovering between 4000 and 4600 points.