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NBR Chairman Assures Cooperation for Dynamic Stock Market Development

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In an exchange of New Year’s greetings during a meeting at the National Board of Revenue (NBR) headquarters, the Chairman of NBR, Abu Hena Md. Rahmatul Muneem, assured cooperation in all aspects for the development of the country’s capital market. The meeting, held on Thursday (4 December), also included the Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam. The leaders of the two regulatory bodies discussed the overall economic situation and prospects for the country, particularly focusing on post-election economic conditions.

During the discussion, the Chairman of NBR, Abu Hena, conveyed his optimism for the development of the stock market and the overall economy by pledging support and collaboration. The meeting, conducted at the NBR office in Agargaon, addressed various issues related to economic growth and the role of the securities market in shaping the economic landscape. Both regulatory heads emphasized the importance of a dynamic and well-regulated stock market in contributing to the economic advancement of the country.

Mohammad Rezaul Karim, the spokesperson for BSEC, reported that the New Year’s greetings exchanged between the Chairmen of NBR and BSEC also involved a comprehensive discussion on the current economic state and future expectations. The Chairman of NBR expressed hope for the economic development of the country, particularly emphasizing support for the stock market’s growth.

Furthermore, the discussion touched upon the advantages that would attract more reputable companies to participate in the stock market, fostering a dynamic marketplace. The leaders underscored the need for a vibrant stock market as a crucial element for the nation’s economic progress.

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U.S. Stock Indices in the Green on the Previous Week

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Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 46 points, reaching a closing value of 18,398 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 48 point to settle at 5,615 points. Meanwhile, DJIA Index experienced a notable hike, adding 625 points during the week and concluding at 40,000 points after a week of gaining.

In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 39 points to reach 3,189 points by the end of the week.

Moving to Russell 2000 Index, demonstrated a notable hike of 122 points, ending the week at 2,148 points.

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European Stock Weekly Review Highlights Positive Trend

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In the Outgoing week, the European stock market displayed a gaining performance.

Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a gain of 7.48 points to close at 524.08.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant hike, adding 49 points or finishing the session at 8,252.

In Germany, the DAX 30 index, added by 273 points to reach 18,748, while France’s CAC 159 increased by 49 points to stop at 7,724 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, increased by 593 points to 34,580. However, Spain’s IBEX 35, added by 227 points, to close at 11,023.

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South Asian Stock Reports A Mixed Results in Past Week

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 523 points during the week. At the end of the week, the index stood at 80,519 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 179 points last week. At the end of the week, the index stood at 24,502 points.

Pakistan Stock Exchange Index ‘KSE 100’, added points last week. After a week of losing, the index settled at 80,030 points.

On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ decreased by 104 points in a week. After a week the index settled at 11,843 points.

Bhutan’s stock market index ‘BSI’ lost 5 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ added 85 points, therefore the index stands at 2,204 points.

Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ gained by 142.15 points or 2.65 percent, in the outgoing week. At the end of the week, the index stands at 5,497 points.

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