Stocks
Most People in the Country Lack Knowledge of the Stock Market
A significant portion of the population in Bangladesh remains unfamiliar with the workings of the stock market, according to Professor Shibli Rubayat-Ul-Islam, the Chairperson of the Bangladesh Securities and Exchange Commission (BSEC). He voiced his concerns during a gathering organized by the Central Depository Bangladesh Limited (CDBL) and the Central Counterparty Bangladesh Limited (CCBL) where he was a key speaker. Professor Shibli emphasized that approximately one percent of the population engages with the stock market, but stressed that in cases of financial losses, the government, prime minister, and authorities will address the issue.
The remarks were made at an event held at a hotel in Dhaka on Sunday, October 8, with Sheikh Kabir Hossain, Chairman of the CDBL, presiding over the gathering. Major General Md Wahid-Uz-Zaman, Chairman of the CCBL, was also present as a special guest.
Professor Shibli stated that some content on social media platforms tends to generate panic among the public. He pointed out that social media engagement often equates to monetary gain, which motivates the dissemination of sensational and misleading information. He urged the audience to be cautious and discerning when confronted with such misleading information.
In his address, Professor Shibali cautioned against relying on sensationalized news, emphasizing the need for ethical journalism and responsible reporting. He urged individuals to be vigilant and discerning when encountering misleading information and sensational news.
He emphasized that their efforts are focused on combating fraud and scams. Over the past year, they have undertaken nearly five hundred enforcement actions. Often, due to various reasons, they refrain from disclosing much in the market’s interest. However, if someone is involved in such fraudulent activities that significantly impact the stock market, we take action against them. By Working together, CDBL and CCBL can make it easier to reduce irregularities in the future. We do not wish to resort to enforcement actions; instead, we aspire to have a well-functioning and beautiful stock market.
Professor Shiali Rubayat-Ul-Islam mentioned that our commissioners work tirelessly, much like the private sector, day and night. However, we have concerns about what the market will look like before we go to sleep at night and wake up the next morning. Why it happens, we don’t know. Our problem lies with platforms like Facebook and YouTube. To boost views, various false pieces of information are being spread. Such misleading information and news have now become our problem.
Foreign investors are eagerly awaiting opportunities for investment, according to the Chairman of the Bangladesh Securities and Exchange Commission (BSEC). He remarked that there is a significant pipeline for investment, and people are waiting for the outcome of elections before making investment decisions. The uncertainty regarding whether we will be able to invest is a matter of concern.
Addressing potential investors, the Chairman of the stock market regulator stated that for long-term investments, they should not consider any alternative outside the stock market. He highlighted the cooperation received from Bangladesh Bank and various government departments, starting from the Prime Minister, in supporting investment initiatives.
The event featured the presence of Md. Asif Ibrahim, Chairman of the Chittagong Stock Exchange (CSE), Dr. A.T.M. Tariquzzaman, Managing Director of the Dhaka Stock Exchange (DSE), A K M Nurul Fazal Bulbul, Vice-Chairman of the CDBL, Dr. Md. Tarek, Director of the CCBL, and Moniruzzaman Chowdhury, CEO of Prime Bank, among others.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
