Turnover may rise to Tk 3,000cr by year-end, says DSE chief

Daily turnover on Dhaka Stock Exchange may increase to Tk 3,000 crore by year-end if the current trend of investor confidence continues, said DSE President Rakibur Rahman yesterday.
Participants of the seminar were also optimistic about a stronger and more stable capital market when they discussed a new system of raising capital through issuing primary shares.
DSE organised the seminar in the city, bringing in stock-market stakeholders, experts and potential issuers together to discuss the potentials and the problems of book building methodology, a new system of determining the issue prices of an initial public offering.
Most participants have seen the new system as a supportive tool to ensure long-term stability and transparency in the capital market.
The DSE president was seemingly upbeat while making his opening remark before a big gathering of capital market experts, stockbrokers, present and potential issuers, merchant bankers and high officials of the stock market watchdog.
He observed that investor confidence had got the stronger ground, shrugging off all confusion and fear.
"We used to be scared to see the index beyond 3000-mark or the daily turnover above Tk 1,000 crore. But the situation had changed and the index remained stable over 3,000 points for a while when the October average of daily turnover was Tk 1,200 crore," he said.
Rahman dismissed any confusion about the present bullish trend. "The market is on the right track," he said.
Rahman suggested the government increase the inflow of good shares to keep the trend up by balancing demand and supply of shares.
"The government does not require doing business in hospitality, aviation and other services sectors, rather it can get more return by offloading shares from such public-run organisations," the DSE president observed.