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 last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
