The Dhaka Stock Exchange has experienced a significant increase in its market capitalisation, by Tk聽58,468.47 crore, in its past three sessions, as investors heavily bought shares following the resignation of prime minister Sheikh Hasina on August 5.
Market operators said that investors were regaining their confidence in the market and were hoping for policymakers to bring about a positive change.
According to data published by the Dhaka bourse, the market capitalisation increased by 9.05 per cent to Tk聽7,03,913.08 crore on August 8 from Tk聽6,45,444.61 crore recorded at the end of August 4 session.
The market capitalisation of the DSE includes market value of all listed companies, bonds, treasury bonds and mutual funds.
Market operators said that the market might have started to heal from its long struggle with confidence crisis, manipulation and the government鈥檚 apathy.
However, an expert said that this sudden surge was a matter of concern, as there was no clear sign of improvement of the market except for the change in the political landscape of the country.
Faruq Ahmed Siddiqi, former chairman of the Bangladesh Securities And Exchange Commission, told 抖阴精品 that investors were probably feeling hopeful or maybe rumours were at play that everything would get better.
鈥業t is true that prices of some fundamental shares rose during the past three days, but there is no logic behind this sudden surge of the market,鈥� he said.
Mentioning that all economic indicators of the country were poor, Faruq said that the indicators worsened in the past one month.
The students鈥� protests against discrimination, which began in July, led to prime minister Sheikh Hasina鈥檚 resignation on August 5. President Mohammed Shahabuddin dissolved the parliament on August 6 and an interim government, led by Nobel laureate Muhammad Yunus, was sworn in on August 8.
Faruq said, 鈥楾he interim government will need more time to be settled in. It will be a huge challenge for the government to get the economy back on track.鈥�
The key index added 695.17 points in the past three sessions.
鈥榃ith no clear indication of a sustained upward trend and a bad economic situation, investors need to be careful and be more analytical before putting their money in the market,鈥� the former BSEC chairman said.
The country鈥檚 economy is struggling with a host of challenges, including high inflation, pressure on exchange rate, falling foreign exchange reserve, dollar crisis and energy crisis, which have also reduced business production.
Many businesses, including readymade garment factories, have begun operations after remaining closed for a few days amid unrests centring the students鈥� movement against discrimination and the resignation of Sheikh Hasina as prime minister.
However, some are afraid to reopen production units amid reports of violence and arson attacks on factories and exports-import activities are almost suspended amid the uncertainty of the restoration of law and order.
