Listing companies that perform well, rationalising the tax regime and ensuring transparency in all activities related to the stock market will help raise investor confidence, according to several market players.

Additionally, the mindset among investors and market intermediaries that stocks are the means of doubling their money overnight needs to change. Also, they must not rush to conduct trade based on speculations in a bid to make a quick buck, they said.

These comments came at a views-exchange meeting, styled "Bangladesh Capital Market: Present Perspective and Future Action Plan", organised by the DSE Brokers Association (DBA) at Dhaka Club in the capital today.

Mominul Islam, chairman of Dhaka Stock Exchange (DSE), said the market's current condition was a result of corruption and inefficient management of previous years.

"Besides, we failed to make investors realise that the stock market is not a way of making money overnight. So, their mindset needs to change," he added.

Pointing out how the market regulator did not carry out its duties properly, Islam informed that the DSE was working on a proposal for rationalising related taxes.

He said the move would benefit the market as people would be keener to invest if they can retain more profit, while government revenue would also rise in the long run.

Islam assured that the new DSE board will work to increase its efficiency and capacity to develop the market environment.

"This is the best time to develop the market," he added.

DBA President Saiful Islam focused on reviewing the demutualisation act and urged brokers to bring about some reforms to their operations.

"No broker should not fuel overtrading in any BO account as it is costlier for investors. Furthermore, they should not rush to any initial public offering if the company is not fundamentally strong," he added.

Among others, Ziaur Rahman, editor of arthosuchak.com, Sujoy Mohajan, business editor of Prothom Alo, Golam Samdani, president of Capital Market Journalists Forum, Monir Hossain, a former government secretary, Jebunnesa Alo, special correspondent of The Business Standard, and Ahsan Habib, senior reporter of The Daily Star, spoke at the event.

They stressed for listing companies with a good track record, including those of state-run companies, and ensuring accountability in the market to boost investor confidence.