Stocks
Women’s Participation Key to Stock Market Growth: BSEC Chief
The growth of Bangladesh’s stock market will accelerate with more female investors participating alongside their male counterparts, stated Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC). He emphasized that women can play a significant role in the country’s economic development by becoming active in the financial market.
Speaking at the “Women in the Stock Market and Golden Jubilee of Independence Awards 2023” event held at the Pan Pacific Sonargaon Hotel in Dhaka on Wednesday evening, he highlighted the potential of women in smart investment from savings. He said that as more women enter the stock market, the greater the market’s growth will be, positively impacting the overall economy.
The BSEC Chairman also remarked that the combined strength of the money market and capital market is essential for a country’s economic progress. He reiterated the need for short to mid-term business activities to be financed through the money market, while long-term investments should be facilitated by the capital market.
The ceremony was presided over by BSEC Chairman Shibli Rubayat Ul Islam, with special guests including State Minister for Finance Wasika Ayesha Khan and Secretary of the Financial Institutions Division of the Ministry of Finance Abdur Rahman Khan. Additionally, BSEC Commissioners Sheikh Shamsuddin Ahmed, Abdul Halim, Rumana Islam, and ATM Tariquzzaman were in attendance.
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 555 points, reaching a closing value of 17,688 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 85 point to settle at 5,431 points. Meanwhile, DJIA Index experienced a notable drop, losing 209 points during the week and concluding at 38,589 points after a week of gaining.
In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 40 points to reach 3,077 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable drop of 20 point, ending the week at 2,006 points.
In the Outgoing week, the European stock market displayed a massive losing 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 drop of 12.5 points to close at 511.05.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 99 points or finishing the session at 8,146.
In Germany, the DAX 30 index, lost by 555 points to reach 18,002, while France’s CAC 498 decreased by 9 points to stop at 7,503 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,995 points to 32,665. However, Spain’s IBEX 35, added by 412 points, to close at 10,992.
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 299 points during the week. At the end of the week, the index stood at 76,992 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 175 points last week. At the end of the week, the index stood at 23,465 points.
Pakistan Stock Exchange Index ‘KSE 100’, shed 2,926 points last week. After a week of losing, the index settled at 76,742 points.
On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ increased by 208 points in a week. After a week the index settled at 12,314 points.
Bhutan’s stock market index ‘BSI’ added 68 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ gain 35 points, therefore the index stands at 2,112 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ dropped by 119.51 points or 2.28 percent, in the outgoing week. At the end of the week, the index stands at 5,117 points.
