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DBA to Seize Expanded Opportunities for Market Development: BSEC Chief

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The DSE Brokers Association of Bangladesh (DBA) will have greater opportunities to enhance the market following the commencement of operations at their new office in the DSE Tower. This statement was made by Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC).

On Wednesday, June 5, at the inauguration ceremony of the DBA’s new office located in the DSE Tower in Nikunja, Dhaka, Professor Rubayat-Ul-Islam emphasized the expanded scope for market development that the new premises will provide.

Highlighting the strong leadership and significant role of the DBA in the stock market, the BSEC Chairman remarked that the DBA is a well-established and powerful organization led by skilled and competent stock brokers. He underscored the indispensable role the DBA plays in the capital market. He further noted that the new office, equipped with all modern amenities, will enable the DBA to undertake broader initiatives for market improvement.

During his speech, Professor Rubayat-Ul-Islam also outlined various government measures aimed at market development. He called on all stakeholders to work positively from their respective positions to foster growth. The BSEC Chairman assured continued support from his commission for any development activities undertaken by the DBA and wished the association further progress and success.

At the inauguration of the new office of the DSE Brokers Association of Bangladesh (DBA), President Saiful Islam pointed out that while the economy has seen significant growth over the past 15 years, the capital market has not progressed at the same pace. Speaking at the event held at the DSE Tower in Nikunja, Dhaka, he expressed optimism about receiving substantial support from the BSEC Chairman, who has been appointed for a second term.

“We are hopeful of receiving maximum cooperation from the Chairman for market development,” stated Saiful Islam. He assured collaborative efforts involving the government, regulatory bodies, and market intermediaries to ensure overall progress in the capital market. He also extended his gratitude to all the guests attending the ceremony.

The new office address of the DBA is: DSE Tower, Level-6, Room No. 89, House-46, Road-21, Nikunja-2, Dhaka-1229.

The event was graced by several notable figures including BSEC Commissioners Dr. Sheikh Shamsuddin Ahmed and Md. Mohsin Chowdhury, CMSF Chairman Md. Nojibur Rahman, Dhaka Stock Exchange Chairman Professor Dr. Hafiz Md. Hasan Babu, along with DSE directors, DBA members, DSE trade holders, and other prominent personalities from the capital market.

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Weekly U.S. Stock Market Reports Diverse Performance

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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.

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Weekly European Stocks Shows Negative Result

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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.

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South Asian Stocks Reports Gaining Performance in Recent 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 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.

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