Stocks
CSE Granted Conditional License for Commodity Exchange
The Bangladesh Securities and Exchange Commission (BSEC) has conditionally granted the country’s first commodity exchange license to the Chittagong Stock Exchange (CSE) on Wednesday, March 20th. The condition stipulates that strategic investors must divest their ownership of brokerage firms within three months of receiving the license.
Commodity exchange regulations prohibit strategic investors from holding shares in any brokerage firm that has ownership in the CSE. According to a BSEC official, Stock and Security Linkway Limited, a concern of strategic investor ABG Limited of Bashundhara Group, owns 0.51% of CSE shares, which must be transferred to an entity unaffiliated with ABG Ltd.
Speaking at a program regarding this development, Asif Ibrahim, chairman of CSE, stated, “We anticipate formally inaugurating Bangladesh’s first commodity exchange within this year. The procurement of hardware and software is nearing completion, facilitating this endeavor.” He noted that Multi Commodity Exchange of India has been appointed as a technical adviser due to its expertise in the field.
Ibrahim highlighted the significance of establishing a commodity exchange in Bangladesh, noting the absence of such exchanges unlike in neighboring countries like India, Pakistan, and Nepal. He emphasized that the exchange would eliminate syndicates manipulating commodity prices, particularly benefiting the port city of Chattogram.
State Minister for Commerce Ahsanul Islam Titu, serving as the chief guest, expressed optimism about the establishment of the commodity exchange. He envisioned enhanced transparency in commodity prices in both international and domestic markets, preventing price manipulation and mitigating issues like money laundering and revenue loss. The program was chaired by BSEC Chairman Shibli Rubaiyat Ul Islam, with Sheikh Kabir Hossain, Chairman of Central Depository Bangladesh Ltd, as a special guest.
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.
