Stock market a vital building block for progress

The equity market, which was once considered a passport to instant riches by many potential, and particularly small and retail investors, appears to be slowly losing its luster with signs that the exchange is in dire need of urgent repair.

So strong was the appeal of the stock market that a few stockbrokers chose to run it as closed shop, thanks to the process of demutualisation that seeks to open up the market to the public.