Stock floor price lifted for 169 companies

The Bangladesh Securities and Exchange Commission has lifted the floor price for 169 companies in order to make the stock market vibrant.

The regulator has set the circuit breaker such a way that the companies' stock prices would now be allowed to drop a maximum of 1 per cent based on the previous day's closing price.

However, the upward price change limit will remain unchanged at 10 per cent, the BSEC said in an order issued today.

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Stocks circuit breaker limit now set at 5%

The floor price is the lowest price at which a stock can be traded.

At the end of last July, the BSEC set the floor price of every stock to halt the free fall of the market indices amidst global economic uncertainties.

The floor price was the average of the closing prices on July 28 of this year and the preceding four days.

Due to the floor price, the turnover of the stock market dropped below Tk 350 crore and most of the stocks failed to attract investors.