The stock market of the country is indicating to turn around after the fall. In continuation of the previous working day, the upward trend was seen in the stock market on Wednesday. The main stock market Dhaka Stock Exchange (DSE) and other stock markets Chittagong Stock Exchange (CSE) all rose. Along with that, the transaction on DSE has increased to over 600 crore taka.
Through this, seven working days out of the last eight working days saw an upward trend in the stock market. And after 25 working days or more than a month, more than 600 crore taka were traded in DSE.
Stock market stakeholders feel that the approval of the third tranche of the International Monetary Fund (IMF) loan has had a positive impact on the stock market. They say that the share price of many companies has gone undervalued due to continuous price decline. In this situation, the approval of the third installment of the IMF loan has had a positive impact on the stock market. If nothing unusual happens, the stock market will turn around now, it will be a normal event.
Bangladesh seeks a loan from the IMF in July 2022 to deal with the economic crisis. After many negotiations, the IMF decided to give a loan of 4.70 billion dollars or 4.70 billion dollars on January 30 last year. Conditionally, this loan will be given in seven installments till 2026.
The first installment of the IMF loan was $476.27 million in February last year. Then came the second installment of about $681 million in December. However, there is apprehension about getting the third installment loan. There are many rumors about this. Which has a negative impact on the stock market. Apart from this, the stock market of the country continued to fall due to several other reasons including the increase in the interest rate of domestic bank loans.
In such a situation, all fears of receiving the third installment of the IMF loan are over. The IMF’s executive board meeting in Washington, USA approved the third tranche loan of about 111.5 million dollars. In Bangladeshi currency, the amount is about 13 thousand crores. This dollar will be discounted and added to the country’s foreign exchange reserves.
The news of IMF loan approval saw an upward trend in the stock market on Tuesday. Also, after 10 working days, more than 500 crores of taka were transacted. The upward trend of the index increased further on Wednesday. Also, more than 600 crores of taka were traded in DSE after more than a month.
On this day, trading in the stock market started by increasing the prices of shares and units of most companies. As a result, the index showed an upward trend at the beginning of trading. This upward trend continued until the end of the session. Even the upward trend of the index increased towards the end of the session. As a result, the day’s trading ended with a big rise in the index.
A member of DSE said the IMF’s loan approval has worked much like a ‘platelet’ for the stock market like a platelet for a dengue patient. There has been a big fall in the stock market due to various issues. From now on it is normal to turn around. But he needed good news or good news for the economy. The approval of the third tranche of the IMF loan did just that.
