Stocks
Karnaphuli Insurance releases Q1 Financials
One of the listed companies, Karnaphuli Insurance Co. Ltd discloses its financial reports for the first quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 0.64 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.63 (restated) paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 22.24.
Stocks
Week Concludes with Mixed Performance on DSE
Dhaka Stock Market DSE, Bourse on the last working day of the week, 12th September, ended with a mixed performance in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.
733 crore 39 lakh taka shares were traded on this day. 108 crore 23 lakh more tradings were done in DSE today compared to the previous workday, 11th September, Shares worth Tk 625 crores 15 lakh shares were traded last time, Wednesday.
The benchmark DSEX added 12.55 points or 5,726 The Shariah-based index DSES gained 4.76 points or 1,245 and the blue-chip index DS30 decreased by 7.05 points or 2,100.
Of the issues traded, 158 advanced, 181 declined and 58 remained unchanged.
Paper Processing & Packaging Limited ranked top gainer on DSE, the share price increased by Tk 12.80 paisa or 9.98 percent. On this day, the share was last traded at Tk 141.00 paisa.
Confidence Cement PLC ranked top loser on the DSE, the share price dropped by Tk -5.00 paisa or 6.82 percent. On this day, the share was last traded at Tk 68.30 paisa.
DSE topped on trade is Linde Bangladesh Limited 61 crore 65 lakh takas of company shares have been traded.
A total of 31 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 41 lakh 19 thousand 413 shares of the companies were traded. The financial value of which is 54 crore 78 lakh taka.
Stocks
FID to Dismiss BSEC Commissioner Tariquzzaman Amid Market Tensions
The Financial Institutions Division (FID) under the Ministry of Finance has decided to terminate ATM Tariquzzaman from his role as commissioner at the Bangladesh Securities and Exchange Commission (BSEC). According to an official FID order issued on Wednesday (11 September), he will receive a three-month notice before his dismissal, with his tenure ending on 10 December.
Tariquzzaman had only been appointed as BSEC commissioner on 8 May, following his resignation as Executive Director of the commission. In September 2023, he briefly served as Managing Director of Dhaka Stock Exchange (DSE) before stepping down to take the BSEC role.
The development comes in the wake of the fall of the Hasina-led government on 5 August, after which BSEC Chairman Shibli Rubayat Ul Islam, along with Commissioners Shaikh Shamsuddin Ahmed and Rubana Islam, resigned. However, Tariquzzaman and fellow Commissioner Mohsin Chowdhury chose not to relinquish their positions.
In response, the interim government appointed Khondoker Rashed Maqsood as BSEC chairman, with Ali Akbar and Farzana Lalarukh joining as commissioners.
The political transition also triggered upheaval in the Dhaka Stock Exchange. According to BSEC and DSE sources, seven independent directors of the DSE resigned following the fall of the previous government, creating legal complications for the commission in selecting replacements. The BSEC disregarded the DSE’s recommendations and on 1 September appointed independent directors unilaterally, sparking discontent among DSE shareholders who viewed the decision as arbitrary.
Sources indicated that ATM Tariquzzaman had played a significant role in BSEC’s decision-making, which included appointing independent directors KAM Majedur Rahman, Helal Uddin, and Nahid Hossain—all of whom faced allegations of conflicts of interest. Majedur and Helal were accused of having ties to brokerage houses, while Nahid Hossain, as Additional Secretary of the Financial Institutions Division, was deemed ineligible under the law to serve as an independent director. Majedur Rahman has since refused the position.
The DSE Brokers Association expressed concerns in a letter dated 5 September, accusing the BSEC of making “anti-investor, non-transparent, and self-serving” decisions, leading to instability in the capital market. The association called for a revision of the selection process for appointing independent directors, urging the invocation of Clause 24 of the Demutualisation Act 2013 to form a Nomination and Remuneration Committee with four elected DSE directors to recommend candidates for BSEC’s approval.
Stocks
Indices Mixed, Turnover Hikes on DSE
Dhaka Stock Market DSE, Bourse on the fourth working day of the week, 11th September, ended with a mixed performance in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.
625 crore 15 lakh taka shares were traded on this day. 62 crore 43 lakh more tradings were done in DSE today compared to the previous workday, 10th September, Shares worth Tk 562 crores 72 lakh shares were traded last time, Wednesday.
The benchmark DSEX added 11.12 points or 5,713 The Shariah-based index DSES gained 5.56 points or 1,240 and the blue-chip index DS30 decreased by 6.92 points or 2,107.
Of the issues traded, 64 advanced, 289 declined and 44 remained unchanged.
Shinepukur Ceramics Limited ranked top gainer on DSE, the share price increased by Tk 1.60 paisa or 10.00 percent. On this day, the share was last traded at Tk 17.60 paisa.
Prime Textile Spinning Mills Limited ranked top loser on the DSE, the share price dropped by Tk 1.50 paisa or 9.32 percent. On this day, the share was last traded at Tk 14.80 paisa.
DSE topped on trade is Agni Systems Limited 32 crore takas of company shares have been traded.
A total of 33 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 10 lakh 62 thousand 781 shares of the companies were traded. The financial value of which is 36 crore 38 lakh taka.