About 80 percent of brokerage houses of the country have been struggling to meet their operating expenses for the last one and a half years due to the floor price barrier, the sector’s leaders have said.
They said that trading in the country`s stock market has decreased significantly due to the fixing of the floor price (minimum selling rate) by the regulator.
They said this in a views exchange meeting with members of the DSE Brokers Association of Bangladesh (DBA) and Capital Market Journalists Forum (CMJF) at the DSE Tower in Nikunjs of the capital on Thursday.
Saiful Islam, President and Director of BRAC EPL Stock Brokerage Limited, Senior Vice President and Managing Director of IDLC Securities Muhammad Saifuddin, Vice President and Managing Director of Eminent Securities Umar Haider Khan, CMJF President SM Golam Samdani Bhuiyan, General Secretary Abu Ali, Former President Ziaur Rahman, and Vice President Babul Burman, among others, were present in the meeting.
Later in the day, the securities regulator withdrew the floor price after nearly one and half years of market suffocation.
However, 35 stocks, believed to be at a risk of freefall and drag the indices sharply down without the floor, will remain under the restriction until further notice, the Bangladesh Securities and Exchange Commission (BSEC) said in an order to the bourses.
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