BSEC meeting with 15 merchant banks today

by times news cr

Considering the overall situation of the capital market, the regulatory body Bangladesh Securities and Exchange Commission (BSEC) has taken the initiative to restore the confidence of the investors by preventing the continuous decline. Following this, it has been decided to meet with the Managing Directors (MDs) or Chief Executive Officers (CSEs) of 15 top local merchant bankers and portfolio managers who have major investments in the capital market.

On Wednesday (October 23) at BSEC’s Agargaon office in the capital, it is said that discussions will be held with the top representatives of the institutions on how to increase investment in the capital market.

Last Sunday (October 20) Deputy Director of Surveillance Department of BSEC. A meeting notice signed by Shahidul Islam has been issued.

Names of 15 merchant bankers and portfolio managers called in the meeting are- Agrani Equity and Investments Limited, Janata Capital and Investments Limited, IDLC Investments Limited, Southeast Bank Capital Services Limited, ICB Capital Management Limited, City Bank Capital Resources Limited, Lankabangla Investments Limited, BRAC EPL. Investments Limited, SBL Capital Management Limited, Sonali Investments Limited, Trust Bank Investments Limited, Rupali Investments Limited, EBL Investments Limited, AB Investments Limited and IFIC Investments Limited.

A meeting has been organized at the BSEC office at 4 pm on Wednesday (October 23) to discuss the current market conditions and other related issues for the development of the capital market, the letter issued by the BSEC regarding the meeting mentioned. BSEC Chairman Khandkar Rashed Maksud will preside over this meeting. 15 Merchant Bankers and Portfolio Managers are requested to attend the Managing Director (MD) or Chief Executive Officer (CSE) meeting to discuss the relevant issues.

BSEC executive director and spokesperson Mohammad Rezaul Karim told RisingBD that we have decided to hold a meeting with merchant bankers and portfolio managers who have large investments in the capital market. The overall situation of the capital market will be discussed with them. We will discuss how to maximize investment especially in the current market context. This will be discussed with the top brokers. Besides, discussions will also be held with the institutional investors of the capital market. BSEC is working to restore investor confidence as soon as possible. Its results are expected to be observed in the capital market in the future. The current stock market is more undervalued than ever. In such situation investors can get maximum profit by investing in capital market. It is expected that individual and institutional investors will return to investment very soon. We believe that the capital market will turn around soon.

He also said, as technical analysis, money flow index and RSI are both in oversold position in the market. Buy pressure can come in the market at any moment. We expect that the capital market will turn around at any moment.

Incidentally, the Ministry of Finance has informed about the initiative taken by the government to restore confidence in the capital market. They say that as a result of these initiatives, large, medium and small investors of the stock market will get quick benefits. The government will consider the matter and provide benefits to those who have suffered through past distress and share scams. This information was informed in a press release sent by the Ministry of Finance on Sunday (October 20).

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