Stocks rise as sponsors buy into market
Stocks gained 4.39 yesterday, influenced by the mandatory buying of sponsors and directors into the market to meet regulatory requirements.
The benchmark General Index of Dhaka Stock Exchange closed at 5,063.11 points, after gaining 213.17 points.
In a decision on November 22, the Securities and Exchange Commission made it mandatory for sponsors, directors and promoters to jointly hold at least 30 percent and individually 2 percent of their listed companies. They face a six-month deadline.
The number of transactions increased on the bourse. Turnover rose by 65.29 percent, the highest in the last 10 trading sessions. Volume and trade rose 77 percent and 49.42 percent.