Against the backdrop a freefall of stock indices for the last few days, a high-profile meeting Monday recommended closer coordination between the securities regulator and the central bank and also stakeholders' watchfulness to stabilise the market, sources said.
Besides, the meeting laid emphasis on strengthening the monitoring and supervision to avert any possible debacle, they added.
The suggestions came as high officials at the finance ministry sat with the officials Bangladesh Securities and Exchange Commission (BSEC), Bangladesh Bank (BB) and the Investment Corporation of Bangladesh (ICB) for a stocktaking of the prevailing stock-market situation.
"We sit often to discuss overall situation. Today, we tried to understand whether any step need be taken to tackle the present stock-market situation," senior secretary at the Financial Institutions Division Eunusur Rahman told the FE over telephone.
"It was a stocktaking meeting on the latest share-market situation," he said, without elaborating on the measures that could stem the tide.
Following the unveiling of the monetary policy for January-June period last week, where banks' advance-deposit ratio saw a downward revision, indices on both Dhaka and Chittagong stock-markets went on a slide. However, some people tend to believe that a political rumour is behind the ongoing erosion in stock prices.
The Dhaka Stock Exchange (DSE) key index shed 307 points or 5.0 per cent during the tumbledown in five consecutive days. On the other hand, the Chittagong Stock Exchange (CSE) All-Share Price Index lost 914 points or 4.80 per cent in the past five trading days.
Meeting sources said the trio has been asked to remain alert about their responsibilities to tackle the situation. They were also asked to closely monitor the market situation.
"As the DSE made some recovery on Monday afternoon compared to a massive fall at the opening session, we discussed overall market situation," said one official who attended the meeting.
At the meeting, BSEC and ICB officials reportedly said that the bourses were recovering slowly and they were hopeful that the situation would turn for the better in a day or two.
syful-islam@outlook.com