Dhaka, Jan 19 (bdnews24.com) – The benchmark index of the country's premier bourse gained over 5 percent on Thursday, a day after plenty of upheaval over investment by public servants in the capital market.
The Dhaka Stock Exchange (DSE) general index shot up 146 points within five minutes of trading and remained on the green premises to stand at 4946.49 points, with a gain of 250.92 points or 5.34 percent, when trading closed on Thursday.
Shares worth Tk 3.21 billion changed hands on the day, with prices of 258 issues advancing and five declining.
On Wednesday, the government had issued a circular reminding public servants that they cannot make any speculative investment, but withdrew it about two hours later.
The move was the latest in a series of dramatic announcements and clarifications, going on since Monday, on the issue of investment by public servants in the stock market.
Public administration senior secretary Abdus Sobhan Sikder told bdnews24.com on Wednesday evening that the circular had been withdrawn temporarily and would be issued again later, "with corrections".
The circular, issued in the afternoon, had drawn attention of public servants to the fact that their rules of employment, the Government Servants (Conduct) Rules 1979, forbids them from making speculative investments or engaging in a business that creates a conflict of interest.
The circular quoted Rule 15 of the conduct code, which says: "No government servant shall speculate in investments. For the purpose of this sub-rule, the habitual purchase and sale of securities of notoriously fluctuating value shall be deemed to be speculation in investments."
But the stern telling-off in the circular could hardly be guessed at the Securities and Exchange Commission press meet on Wednesday morning, where SEC chairman M Khairul Hossain announced that no decision had been taken to stop government officials and employees from investing in stocks.
The confusion began on Monday when, in a slip-of-the-tongue moment, prime minister's press secretary Abul Kalam Azad let out that the latest cabinet meeting had discussed the issue of keeping public servants off the stock market.
Going into a panic mode instantaneously, DSE and CSE suspended trading on Tuesday. But that could not stop the free fall of the DSE general index, which lost 178 points within the first five minutes of trading on Wednesday.
Small investors protested the entire day in front of the DSE building, fighting with the police all over Motijheel.
bdnews24.com
The Dhaka Stock Exchange (DSE) general index shot up 146 points within five minutes of trading and remained on the green premises to stand at 4946.49 points, with a gain of 250.92 points or 5.34 percent, when trading closed on Thursday.
Shares worth Tk 3.21 billion changed hands on the day, with prices of 258 issues advancing and five declining.
On Wednesday, the government had issued a circular reminding public servants that they cannot make any speculative investment, but withdrew it about two hours later.
The move was the latest in a series of dramatic announcements and clarifications, going on since Monday, on the issue of investment by public servants in the stock market.
Public administration senior secretary Abdus Sobhan Sikder told bdnews24.com on Wednesday evening that the circular had been withdrawn temporarily and would be issued again later, "with corrections".
The circular, issued in the afternoon, had drawn attention of public servants to the fact that their rules of employment, the Government Servants (Conduct) Rules 1979, forbids them from making speculative investments or engaging in a business that creates a conflict of interest.
The circular quoted Rule 15 of the conduct code, which says: "No government servant shall speculate in investments. For the purpose of this sub-rule, the habitual purchase and sale of securities of notoriously fluctuating value shall be deemed to be speculation in investments."
But the stern telling-off in the circular could hardly be guessed at the Securities and Exchange Commission press meet on Wednesday morning, where SEC chairman M Khairul Hossain announced that no decision had been taken to stop government officials and employees from investing in stocks.
The confusion began on Monday when, in a slip-of-the-tongue moment, prime minister's press secretary Abul Kalam Azad let out that the latest cabinet meeting had discussed the issue of keeping public servants off the stock market.
Going into a panic mode instantaneously, DSE and CSE suspended trading on Tuesday. But that could not stop the free fall of the DSE general index, which lost 178 points within the first five minutes of trading on Wednesday.
Small investors protested the entire day in front of the DSE building, fighting with the police all over Motijheel.
bdnews24.com
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