After being stuck in a downward trend for a long time, the country’s stock market showed a strong recovery at the beginning of the interim government taking over. But that excitement didn’t last long.
In the first four working days of the interim government, the DSE index increased by 786 points. But since then, the market has returned to its previous trend. Even after seven months, the stock market has not recovered. During this time, other sectors of the economy have moved forward with the touch of development, but the stock market’s sluggishness has remained the same.
After the interim government led by Dr. Muhammad Yunus took office, many hoped that the stock market would get rid of the various irregularities, corruption, manipulation and syndicate trading that occurred in the stock market during Sheikh Hasina’s long 16-year rule. But that did not happen. Small investors have become frustrated due to market irregularities and manipulation. Many are worried about losing their invested money.
According to Central Depository Bangladesh Limited (CDBL), 51,549 beneficial owners (BO) accounts have become shareless in the seven months of the interim government. Currently, the number of shareless BO accounts has reached 362,466. In the last two months, 17,732 BO accounts have become shareless. During this time, 54 foreign BO accounts have become shareless and are now inactive.
According to CDBL data, the number of BO accounts of foreign and expatriate investors currently stands at 46,633, which was 47,083 when Sheikh Hasina’s government fell. This number has decreased by 450 in the last seven months. On August 6, the day after the fall of the Hasina government, there were 310,917 BO accounts without shares. Since the fall of the Hasina government until February 27, a total of 6,585 new BOs are not being used. On August 6, there were 1,295,768 BO accounts with shares. As the number of shares released has increased in the last seven months, a total of 38,413 accounts have become shareless, bringing the number of accounts with shares down to 1,257,355.
