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Stock Market Bleeds as Index, Turnover Falls

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Dhaka Stock Exchange DSE, Bourse on the second working day of the week, December 18, ended with price Index & turnover drops. This information is known from DSE sources.

464 crore 92 lakh shares were traded on this day. 159 crore 75 more trading was done in DSE today compared to the previous workday, 17 December, Shares worth Tk 624 crores 67 lakh shares were traded last time, Sunday.

The benchmark DSEX lost 5.63 points or 6,251 The Shariah-based index DSES shed 0.04 points or 1,362, and the blue-chip index DS30 decreased by 3.92 points or 2,097.

Of the issues traded, 48 advanced, 116 declined and 159 remained unchanged.

Khulna Printing & Packaging Limited ranked top gainer on DSE, the share price increased by Tk 1.60 paisa or 6.02 percent. On this day, the share was last traded at Tk 28.20 paisa.

Sea Pear Beach Resort & Spa Limited ranked top loser on the DSE, the share price dropped by Tk 15.40 paisa or 9.97 percent. On this day, the share was last traded at Tk 139.10 paisa.

DSE topped on trade is Olympic Accessories Limited 28 crore 79 lakh takas of shares of the company have been traded.

A total of 54 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 64 lakh 19 thousand 904 shares of the companies were traded. The financial value of which is 26 crore 13 lakh taka.

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Beximco Taps Iqbal Ahmed as New Managing Director

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Beximco Pharmaceuticals has announced the appointment of Iqbal Ahmed, a current director, as the new managing director for a five-year term.

hmed, who has been serving on the board since 1985, will assume the role pending approval from shareholders at the upcoming annual general meeting. The move follows the resignation of the company’s former managing director, Nazmul Hasan, who stepped down from the position after assuming a ministerial role in the government.

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6 More Companies to Enter ‘Z’ Categories Starting Tomorrow

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Starting tomorrow, Monday (March 4), shares of six companies will be transferred to the ‘Z’ category on the Dhaka Stock Exchange, as directed by the Bangladesh Securities and Exchange Commission (BSEC).

The decision stems from various factors, including the failure to host the annual general meeting, production shutdown for over six months, and many other reasons.

However DSE mentioned two companies from the textile sector, two from the pharmaceutical and chemical sector, one from the financial sector, and one from the insurance sector. The affected companies are Prime Textile, Prime Finance, New Line Clothings, Far East Islamic Life Insurance, AFC Agro Biotech, and Active Fine Chemicals Limited. The ‘Z’ category is typically assigned for companies facing financial troubles or regulatory issues, signaling caution for investors.

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Grameenphone’s Stock Plunge 8.72% after Lifting Floor

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The stock of Grameenphone (GP) experienced a significant decline of 8.72% immediately after the removal of the floor price restriction.

According to the directive of the Bangladesh Securities and Exchange Commission (BSEC), the floor price restriction on shares of Grameenphone Limited is set to be lifted from today, March 3rd.

Yesterday, GP shares were traded at Tk286.60 each. However, Today, experiencing a drop of Tk25.00 from the opening price at the Dhaka Stock Exchange (DSE). The session witnessed the exchange of a total of 7 lakh 43 thousand 710 shares, amounting to Tk19 crore 46 lakh.

This downturn in GP stocks had a notable impact, resulting in a decline in the key index DSEX, settling at 6,215 by the end of the day trading. The Bangladesh Securities and Exchange Commission (BSEC) had earlier issued a directive to withdraw the floor price restriction on Grameenphone stocks on 3 March. The floor price is the lowest set by the securities regulator, determining the minimum price at which a stock can be traded. In January, the BSEC lifted the floor price for most stocks, 18 months after its introduction.

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