 | Bourses ring warning bell
10 October, 2010
The country's two stock exchanges Saturday rang the warning bell saying the market was getting overpriced every day, which might erode the people's investment and dent its future growth as well.
They urged the government to take emergency steps for offloading state-owned enterprises (SoEs) within a month to save the market and to appease the investors' strong appetite for shares.
The liquidity-driven share market has been experiencing bull-run over the last two years, prompting the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) to alert the investors.
"We are worried about the market's crazy behaviour," said Shakil Rizvi, president of DSE, in a joint press conference at a city hotel.
He said: "We are warning you that it's very risky right now. Stock market collapse is not far off. Investors, be careful!"
The DSE was on a bull run for about two years as its main index DGEN increased from 2800 points in 2009 to 7400 points, showing an unprecedented increase of 164 per cent.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=114263&date=2010-10-10
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