Dhaka, Oct 24 — Stock exchange leaders want to see the reflection of the promises made by banks to increase their investments in the capital market.
The president of Bangladesh Merchant Bankers' Association, on the other hand, hopes the market will turn around from where it is now.
"If the banks were investing the market would not have fallen so far on Monday," Chittagong Stock Exchange (CSE) president Fakhruddin Ali Ahmed told bdnews24.com on Monday evening.
The day's trade on Dhaka Stock Exchange (DSE) saw the general index fall by around 181 points or 3.19 percent to close at 5473.61 points. The CSCX fell 278 points to stand at 9923 points.
"If the bank investments were active, the market would have received support somewhere. But it fell sharp without any brakes," Fakhruddin said.
DSE director Ahmed Rashid Lali told bdnews24.com the bourse wanted to see the reflection of the promise Association of Bankers, Bangladesh (ABB) had made to increase their investment.
"The activity that institutional investors had shown on Wednesday and Thursday was almost absent on Sunday and Monday," Lali said.
On Oct 20, ABB said they will start investing in the capital market from Sunday to bolster the sagging market. Most banks are currently investing about three percent of their exposure limit.
On the day of the announcement DSE jumped by 109 points.
Another platform of bankers, Bangladesh Association of Banks (BAB), announced on Sunday it would initiate a Tk 50 billion fund to prop up the volatile market.
Bangladesh Merchant Bankers Association president Mohammad A Hafiz assured that banks were committed to raising investment.
"The banks are very positive about increasing their investment in the stock market. All necessary measures have been taken, and you will see the reflection in a few days," he told bdnews24.com on Monday evening.
"We are hoping the market will turn around from this point," he said.
From:www.bdnews24.com
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