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.
DSE on Slight Hike
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, March 21, ended with price index & turnover hikes.
This information is known from DSE sources.
349 crores 61 lakh shares were traded in DSE on this day. 4 crores 95 lakhs less trading was done in DSE today compared to the previous workday, 20 March, Shares worth Tk 344 crores 66 lakh shares were traded in DSE last time, Monday.
The benchmark index DSEX hiked 18.72 points or 6,222. The Shariah-based index DSES rose 5.90 points or 1,355, and the blue-chip index DS30 gained 4.80 points or 2,220.
Of the issues traded, 87 advanced, 14 declined, and 224 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 4.3 paisa or 10.00 percent. On this day, the share was last traded at Tk 47.30 paisa.
On the other hand,Renwick Jagneswar & Co (Bd) Ltd ranked top loser on the DSE, the share price dropped by Tk 15.7 paisa or 2.05 percent. On this day, the share was last traded at Tk 750.10 paisa.
DSE topped on trade Sea Pearl Beach Resort & Spa Limited 30 crores 78 lakh 18 thousand takas of shares of the company have been traded.
A total of 51 companies’ shares were traded in the Block on Dhaka Stock Exchange, 45 lakh 77 thousand 172 shares of the companies were traded. The financial value of which is 36 crore 90 lakh taka.
Phoenix Insurance discloses its Dividends
One of the Listed Companies, Phoenix Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.02 paisa, NAV per share of Tk 37.10 for the year ended December 31, 2022, as against EPS of Tk 2.20 paisa.
The Annual General Meeting (AGM) of the company will be held on May 31 through the digital platform. The record date for this has been fixed at April 17.
Central Insurance Declares its Dividends
One of the Listed Companies, Central Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.03 paisa, NAV per share of Tk 49.48 for the year ended December 31, 2022, as against EPS of Tk 2.41 paisa.
The Annual General Meeting (AGM) of the company will be held on May 28 through the digital platform. The record date for this has been fixed at April 16.
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