Stocks hit 2-year low

Hartal called in Motijheel by investors withdrawnThe police on Monday held eight leaders of a forum of share market investors as they called for a dawn-to-dusk general strike today at Motijheel in the capital after the benchmark general index of Dhaka Stock Exchange crash-landed to the two-year low of 4,638.61 points.
The Bangladesh Capital Market Investors’ Council, a platform of small-scale investors, later withdrew the strike on condition of release of its detained leaders including BCMIC president Mizanur Rashid Chowdhury, said its organising secretary Shahadat Ullah Feroz.
The general index of the bourse or DGEN shed 1.51 per cent, or 71.29 points, with the curve falling lower than the previous minimum point of 4,649 points posted on November 15, 2011 since the December 2010-January 2011 market crash.
After a day-long protest in front of the DSE building on Monday, the Bangladesh Capital Market Investors’ Council, a platform of small-scale investors, announced a day-long hartal today.

Investors run riot over govt circular - New Age

Street demonstrations of investors turned into a riot on Wednesday as the general index of Dhaka bourse crash-landed to the second lowest of the past two years on an intensified confusion about the government’s move to bar civil servants from investing in stocks.
The benchmark general index of the Dhaka Stock Exchange, DGEN, fell hard to 4,695.57 points, losing 3.46 per cent, or 168.72 points, on the day.
The Dhaka and Chittagong stock exchanges suspended trading on Tuesday to avoid any adverse impact of the government’s announcement made on Monday.
The government intensified the confusion by issuing a circular that ordered civil servants to refrain from investing in the capital market and then cancelling the order within a few hours, said experts.
The public administration ministry through a gazette notification on Wednesday evening ruled that civil servants, as per the Government Servants (Conduct) Rules 1979, could not invest in the securities market that fluctuated frequently.

Undisclosed money in stocks fails to bring positive results

Government move to allow investment of undisclosed money in the stock market failed to bring any positive result in the market due to frequent change of policy. Although the investment provision of undisclosed money in stocks was designed to prop up the market, the country’s capital market witnessed several volatile occasions following hurried changes in government policies in this regard.
In the latest change in the provision, the government would allow only legally earned yet untaxed money for stock investment which is subject to 10 per cent tax, said a statutory regulatory order issued by National Board of Revenue on Sunday.