Stocks
No chance lifting floor price: BSEC
Chairman of Bangladesh Securities and Exchange Commission, BSEC Professor Shibli-Rubayat-Ul Islam stated that there will be no chance of lifting the floor price.
He affirmed this information to Orthosongbad on Tuesday, September 18 from Morocco.
Rumors or Hearsays that the floor price is likely to go up, the country’s stock market has started to drop in a while. The BSEC chairman went to Morocco to attend the International Organization of Securities Exchange IOSCO meeting last Thursday.
On the previous day, the head of the Bangladesh Capital Market Regulatory Authority took charge of the vice chair of the organization.
As the BSEC chairman went abroad, a twist is once again spreading rumors about the floor price. Rumors are spreading in the stock market that the floor price should be carried away soon to keep pace with the international bourses.
The head of the regulatory agency believes that there is a chance to destabilize the capital market by breaking this rumor. He told Orthosongbad that the current commission will not take any decision that harms the common investors to save someone’s interest.
In the meantime, bourses continue to fall since the last working day of last week Thursday. According to the data of DSE, the main index of the Dhaka Stock Exchange, DSE fell by 12 points on Tuesday as well.
And on Monday ‘DSEX’ lost 65 points. The DSE’s main index fell by 100 points after 4 straight days of decline since the last closing workday, Thursday.
Bangladesh Securities and Exchange Commission, BSEC re-introduced the floor price in the stock market on July 28 to prevent continuous price deficit. The Dhaka Stock Exchange witnessed hikes in the price index on the next working day after the floor price was introduced.
On that day DSE’s flagship index ‘DSEX’ score 153 points, out of 382 companies that participated in the transaction on that day, the share prices of 362 companies increased. Also, after the implementation of the floor price, the market capitalization of the stock market increased by Tk 21 thousand crores in the first week.
While most shares remained unchanged at floor prices, relaxes returned to a section of investors. Hence, there are rumors that the floor price will be lifted from time to time among investors.
Just recently, a plot twist is trying to create a headache in the market by spreading such rumors. The issue of check cashing has been added to the rumors. However, due to irregularities in various brokerage houses through cheques, BSEC issued an order to buy shares in cash.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
You must be logged in to post a comment Login