Authorities of the Dhaka Stock Exchange on Thursday requested the government to find market manipulators and take actions against them.
‘The government should find market manipulators and punish them,’ said Shakil Rizvi, president of the DSE, at a press briefing at Sheraton Hotel in Dhaka.
Shakil said investors’ confidence had been shattered due to the volatility at the market in recent times. Liquidity crisis was the prime reason of the stock market collapse, he said.
The central bank should relax some regulations to increase inflow of fund to the capital market, he added.
The DSE chief said merchant bankers were reluctant to invest in the stock market in recent weeks as the Bangladesh Bank did not give any clear announcement in this connection after imposing a number of restrictions on banks in investing funds in the capital market.
Shakil said the government should also find the stock market manipulators in 1996, in which year the market bubbled first and then burst.
He said most of the banks made hefty profits from the capital market last year. ‘I request them to invest in the capital market now to lift it.’
Shakil requested the investors to keep patience and not to sell shares in the falling market.
The DSE president requested the finance minister to find an appropriate measure in book building method issue.
The Securities and Exchange Commission on Wednesday postponed the book building method in a bid to end overvaluation of primary shares of companies using the method to be listed and to stop flight of capital from the market that has been facing liquidity crisis in recent weeks.