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Indices Declines yet Turnover Surge: DSE Weekly Insights
Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a drop in Indices, & Market Capitalization throughout the whole week, on the other hand Turnover hikes. This information was disclosed in the weekly market review from the DSE.
According to sources, (5 working days) the turnover of DSE lost by Tk 375 crore 75 lakh (June 9 – June 13). At the same time, the market capitalization has decreased by 12 thousand 884 crore 5 lakh taka.
The benchmark index ‘DSEX’ dropped by 79.71 points or 1.47 percent, in the outgoing week. At the end of the week, the index stands at 5,413 points. The Shariah-based index ‘DSES’ lost 17.99 points or 1.52 percent and therefore the index stands at 1,183 points. The blue-chip index ‘DS30’ decreased by 31.92 points or 1.65 percent, hence the index stands at 1,932 points.
Shares and units worth 2 thousand 394 crore 60 lakh taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 6 lakh 53 thousand 368 crore 10 lakh taka.
Shares and units of 397 companies were traded on Bourse during the week. Of these, 21 shares were unchanged, 327 companies declined, and 49 companies advanced.
Techno Drugs Limited has ranked at the top of weekly trading on DSE. The Company records an average turnover of 32 crore 44 lakh taka.
Techno Drugs Limited ranked at the top of weekly gainers on DSE. The share has risen 81.43 percent to its highest price.
Padma Life Insurance Limited has ranked at the top of weekly losers on DSE. The share has dropped 19.60 percent lowest in the last week.
The Bangladesh Meteorological Department (BMD) has forecasted that the ongoing mild to moderate heat wave affecting six regions of the country will persist for the next 24 hours from 9 am today.
The heat wave is currently sweeping over the Rangpur, Mymensingh, and Sylhet divisions, as well as the districts of Tangail, Kishoreganj, and Naogaon. According to the BMD, this weather pattern is expected to continue for the foreseeable future.
In addition to the heat wave, light to moderate rain or thundershowers accompanied by temporary gusty winds are likely to occur in parts of the Khulna, Barishal, and Chattogram divisions. Isolated showers may also affect a few areas in Rangpur, Rajshahi, Dhaka, Mymensingh, and Sylhet divisions, with moderately heavy rainfall expected in some locations across the country.
Despite these weather conditions, the BMD noted that daytime and nighttime temperatures are expected to remain largely unchanged across Bangladesh.
On Wednesday, the highest temperature in the country was recorded at 37.5 degrees Celsius in Rangpur of Rangpur division, while today’s minimum temperature was 24.0 degrees Celsius, observed in Rangamati and Feni districts of Chattogram division.
Meanwhile, rainfall recorded over the last 24 hours, up until 6 am today, measured 54 mm in Sandwip of the Chattogram division.
In Dhaka, the sun is set to set at 5:58 pm today and will rise again at 5:47 am tomorrow.
The Criminal Investigation Department (CID) has filed 17 cases against Beximco Group’s Vice-Chairman, Salman F Rahman, and 27 others, accusing them of laundering approximately Tk1,000 crore ($83 million) under the guise of export trade. This development was confirmed by Additional Superintendent of Police Azad Rahman through a notification on 18 September.
The investigation, conducted under the Money Laundering Prevention Act, found that Salman F Rahman and his brother, ASF Rahman, who serves as the Chairman of Beximco Group, were involved in laundering around Tk1,000 crore. This was done through the export of goods linked to 93 Letters of Credit (LCs) from Janata Bank PLC between 2021 and 2024. However, the proceeds from these exports were not repatriated to Bangladesh.
The CID revealed that the accused individuals, through an organised operation involving their affiliated companies, exported goods with the malicious intent of transferring money abroad. The probe indicated that they deliberately failed to return the export proceeds, violating multiple sections of the Money Laundering Prevention Act.
According to the CID, Salman F Rahman and his associates used their influence and collaborated with an organised criminal group to launder money. This resulted in 17 cases being filed by the CID’s financial crime unit at Motijheel Police Station.
Salman F Rahman, who has long been a prominent figure during Sheikh Hasina’s 15-year rule, is now facing an in-depth investigation by the CID’s financial crime unit. The investigation focuses on significant allegations of money laundering and financial misconduct, as highlighted in a preliminary report from the CID on 1 September.
Salman is also accused of laundering Tk33,470 crore abroad, allegedly obtained through loans from seven banks over the past 15 years. Of this, Tk21,681 crore was borrowed from state-owned Janata Bank, while Tk5,281 crore came from IFIC Bank, where Salman previously served as chairman.
In addition to these allegations, Salman is believed to have profited Tk6,600 crore through manipulation of the capital market and is accused of failing to repatriate Tk1,485 crore from export proceeds.
The Bangladesh Meteorological Department (BMD) has predicted light to moderate rain or thundershowers, accompanied by temporary gusty winds, in all eight divisions of the country over the next 24 hours, starting from 9 AM today.
According to the BMD forecast, Chattogram and Sylhet divisions are likely to experience light to moderate rain or thundershowers, while Dhaka and Barishal divisions may see similar weather at a few locations. In Rajshahi, Rangpur, Mymensingh, and Khulna divisions, rainfall is expected in one or two places, with some areas potentially experiencing moderately heavy showers.
The BMD also stated that both day and night temperatures might rise slightly across the country.
On Tuesday, the highest temperature was recorded at 36.5 degrees Celsius in Rajarhat, Rangpur division, while today’s lowest temperature was 24.6 degrees Celsius in Tetulia, also in Rangpur.
In the last 24 hours up to 6 AM today, Cumilla in the Chattogram division recorded 3 mm of rainfall.
The sun is expected to set at 5:58 PM today and rise at 5:46 AM tomorrow in Dhaka.
