Stocks shake off jitters

Stocks bounced back strongly yesterday, as the regulator slackened some market-cooling measures, a day after the market suffered the steepest drop in 14 years.
The regulator's flexible stance helped the investors boost confidence, stockbrokers said.
The Securities and Exchange Commission on Sunday decided to increase the single-client borrowing limit to Tk 10 crore from Tk 5 crore for stockbrokers and extend the deadline for adjusting the margin loan for those clients whose credit exposure is over Tk 10 crore to September 30 from August 31.
"The sweetener brought an end -- at least for the time being -- to the panic sale that took place Sunday on a reaction to the regulator's market-cooling tightening of credit," said a stockbroker.
The benchmark index of Dhaka Stock Exchange -- DSE General Index -- jumped 125 points, or 2 percent, to 6,325.
Banks, telecoms and non-bank financial institutions were mainly behind the increase in the market. Shares of the other sectors also rose.
Advancers beat losers 198 to 46. However, eight securities remained unchanged on the premier bourse, which traded more than 5.11 crore shares and mutual fund units on a turnover of Tk 1,285 crore.
LankaBangla Finance topped the turnover leaders with more than 14.75 lakh shares worth Tk 68.84 crore.
Chittagong stocks marked a sharp rise with the CSE Selective Categories Index increasing 1.91 percent to 12,131.
More than 71.13 lakh shares and mutual fund units changed hands on Chittagong Stock Exchange on a value of Tk 104.77 crore.
Gainers beat losers 120 to 63 with one scrip remaining unchanged on the port city bourse.
RAK Ceramics (Bangladesh) Limited topped the turnover leaders with more than 2.79 lakh shares worth Tk 6.54 crore being traded on the floor.