Trading in the country's stock market has been suspended for almost two months due to a public holiday by the government to curb the spread of the coronavirus. As a result, even if needed, no investor is getting a chance to raise money by selling shares. In this situation, stakeholders and investors have demanded to start trading in the stock market before Eid.
Investors' capital is stuck due to non-trading in the stock market. As a result, most small investors have to live inhumane lives. Stock market investors are not getting any incentive.
Although limited in size, trading in the stock market should be started before Eid. Investors in trouble will be able to raise some money by selling shares.
Meanwhile, stakeholders say the government has decided to open a limited number of banks and garment shopping malls to save lives and livelihoods. Like banks, the stock market is also a service organization. Moreover, it does not require much manpower to transact in the stock market. Investors do not need to be present at a brokerage house to buy or sell shares.
Therefore, in the interest of investors, even if limited in size, stock market transactions should be introduced before Eid.
The floor price of the stock has been fixed to prevent the fall of the stock market. This will not allow the share price of any company to fall below a certain limit.
Since the share price of a company does not have a chance to go below the floor price, so there is no chance of a price fall.
Meanwhile, the Dhaka Stock Exchange (DSE) authorities took a policy decision to start trading in the stock market from May 10 during the general holiday. In this context, the Managing Director (MD) of DSE sent a letter to the Chairman of the Bangladesh Securities and Exchange Commission (BSEC) seeking his consent.
The letter demanded the relaxation of some policies for the resumption of transactions. However, a committee meeting of the BSEC was needed to relax some policies. But the BSEC failed to hold a commission meeting on the quorum crisis.
In this context, BSEC sends it to the Ministry of Finance and the Ministry of Finance sends it to the Ministry of Public Administration for comment. But DSE could not start trading from May 10 even after taking a policy decision as no decision has been taken. In this situation, the government has issued a notification last Thursday to extend the general holiday till May 30.
The circular did not include the stock market sector in the number of sectors related to emergency services in this circular. So if the special opportunity is not given, it will not be possible to trade in the stock market before Eid.
Stock markets launched in all countries. Banks and garments have been opened in our country to save lives and livelihoods. The capital market is also a service institution like a bank. Then why the capital market will be closed when the bank opens?
3 million investors in the capital market. These investors have lives and livelihoods. They need money. Why don't they get the right to withdraw their money?
Eid ahead. Investors will be disappointed. Outside investors will be disappointed. The global capital market that we are involved in will not have a good idea about us.
Now the question is if the stock market is opened before Eid, the transaction will be less. But due to the low turnover, the rights of investors cannot be violated.
The investor who needs the money will sell the shares and withdraw the money. It is his right. It is not right to deprive him of this right. Moreover, not everyone will go to sell shares. Whoever needs the money will sell the shares. On the contrary, many will go to buy shares.
Transactions in the stock market will be through electronics. Running a branch does not require staff like a bank. Two or three people are enough. Investors also do not have to come to the brokerage house. They will transact through mobile, e-mail, apps. Each brokerage house has multiple bank accounts. Investors can deposit money through bank branches of their choice.
Rumors are circulating that if trading is started in the stock market before Eid, it will collapse. That's not right. Because the floor price of the shares has been fixed. It is a landmark decision of the Prime Minister for the stock market. There is no chance of any stock falling below the set price due to setting the floor price. So there is no reason to collapse.
No one can say when the situation will be normal. Everyone has been living under house arrest for almost two months. Eid ahead. Everyone is in a kind of frustration with raising funds for this Eid.
Investors have been losing money in the market since the 2010 collapse. We are currently having a bad time. Many families do not have food at home. They are living a helpless life with their families.
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