Stocks jump for cuts in bond, savings interest rates

Shares on the Dhaka Stock Exchange rose for the second consecutive day yesterday thanks to the investors’ sustained optimism and a cut in the interest rate on savings certificates and wage-earners development bonds.
The DSEX, the benchmark index of the premier bourse in the country, advanced 52 points, or 0.73 per cent, to close the day at 7,258.
The gain took the index to its highest level, first touched on September 9. If the rate of return on bank deposits, savings instruments and other investment tools is slashed, it bodes well for the stock market as investors rush to the equity market
The decision to bring down the interest rate on savings certificates and wage-earners development bonds had a positive impact on the market.