Capital market is getting stronger

, Business

Mahfuzul Islam, Senior Correspondent, Barta24.com | 2023-08-31 11:07:28

There will be special incentives for capital market in the ensuing budget. In view of this good news the capital market after four and half months of price fall it is now getting stronger. The price of all shares, the market indicators and transaction are showing upward trend. For this reason the investors are getting back their capitals.

According to Dhaka Stock Exchange(DSE) in the seven working days of before and after EId ul Fitr there were transactions. The market started rising gradually. That helped the rise of DSE indicator to 222 points. The transaction amount has increased to Taka 500 crore from Taka 300 crore on an average. Above all the capital of the investors has increased to Taka 16 thousand 838 crore 29 lakh 93 thousand. Similarly both the transactions and prices of the company share have increased in CSE. 

The market concerned have said that to bring back the confidence and also to remove the liquidity crisis of capital market the government has agreed to give credit facility of Taka 900 crore. In case of investment of the banks, the exposure limit of their subsidiary bodies have been excluded. Much discussed the placement business is being stopped. The IPO rules have been changed. The investors’ quota has been enhanced in the IPO.

After these reforms the Finance Minister has announced that there will be provisions of special incentives for the capital market in the next budget. This has made the investors hopeful. They are looking at the announcement of Finance Minister AHM Mostofa Kamal. They are waiting to invest how much incentives come in the budget for capital market.  

According to Finance Ministry and NBR sources, in true sense nothing has been kept in budget for the capital market. However there will be provisions of making black money into white without any tax or any condition. The tax free limit on the profit has been proposed to Taka 50 thousand from Taka 25 thousand. Besides, in the garments sector a proposal of cash relief of Taka 3000 crore will be included in the next budget.

DSE Brokers Association president Shakil Rizvi told Barta24.com that recently many good initiatives have been taken for share market. There was indication of giving incentives in the budget. So there might be positive impact in the capital market.

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