Over 2 lakh BO accounts closed in July
BI Report || BusinessInsider
Representational collected image
More than 2 lakh investors left the stock market in July, closing their Beneficiary Owners (BO) accounts due to non-renewal, according to Central Depository Bangladesh Limited (CDBL).
The figure suggests that investors increasingly losing confidence in the country’s capital market due to its recent sluggish performance, insiders said.
On the last working day of June, there were 20,53,422 BO accounts in the stock market. And on the last day of July, the number of BO accounts stood at 18,33,884. Meaning that 2,19,538 BO accounts were closed in July.
During this period, the BO account of male investors decreased by 1,58,247 to 13,68,965 and the BO account of women investors decreased by 60,920 to 4,49,105.
On the last day of June, the number of company-operated BO accounts was 16,185. From there, it decreased by 371 to 15,814 in July.
During this time, 10,919 BO accounts of investors staying abroad have been reduced to 64,261.