Stocks
BSEC Restores Normal Circuit Breaker Rules in Stock Market
The Bangladesh Securities and Exchange Commission (BSEC) has reinstated the normal circuit breaker rules for the country’s stock market, meaning that the same rate will now apply to both price increases and decreases. These changes will take effect from Thursday, allowing stock prices to fluctuate between 3.75% and 10% in a single day, depending on the share price.
This decision was made during the 916th emergency commission meeting of BSEC on Wednesday, August 28, chaired by the new BSEC Chairman, Khandaker Rashid Maksud.
Previously, under the leadership of Professor Shibli Rubayat-Ul-Islam, the commission had adjusted the circuit breaker rules to curb price drops, limiting the maximum price decrease to 3% per day, while leaving the price increase rules unchanged.
The Wednesday meeting also reinstated the June 17, 2021, decision regarding circuit breakers for companies whose floor prices had been lifted. This allows share prices to increase or decrease by a specific percentage based on the previous day’s closing price.
According to the new rules, a stock priced below BDT 200 can fluctuate up to 10% in a day. Stocks priced between BDT 200 and BDT 500 can move by 8.75%, those between BDT 500 and BDT 1,000 by 7.5%, stocks between BDT 1,000 and BDT 2,000 by 6.25%, those between BDT 2,000 and BDT 5,000 by 5%, and stocks priced above BDT 5,000 can move by up to 3.75%.
In the same meeting, the proposal to sign a memorandum of understanding (MoU) with the National Telecommunication Monitoring Center (NTMC) was withdrawn, along with the related letter sent by BSEC to the Financial Institutions Division. Additionally, the commission decided to terminate cricketer Shakib Al Hasan’s role as the goodwill ambassador for BSEC’s nationwide investment education program.
Furthermore, BSEC resolved to take immediate legal action against listed companies that failed to distribute declared dividends within the stipulated time frame.
The commission also approved a draft MoU with Kazakhstan, which is awaiting ministry approval. This bilateral agreement aims to enhance mutual information exchange and skill development, which BSEC believes will facilitate various initiatives for the development of both countries’ stock markets. The MoU specifies that each party’s domestic laws will prevail in case of any disputes, ensuring smooth compliance with the agreement’s terms.
The Bangladesh Securities and Exchange Commission (BSEC) has today approved appointment of Ms. Nuzhat Anwar as the new Managing Director of Dhaka Stock Exchange PLC. (DSE).
Ms. Nuzhat Anwar brings over two decades of experience in financial markets, banking, and development finance. Prior to her appointment, she worked at the International Finance Corporation (IFC), the private sector arm of the World Bank Group, where she held multiple senior leadership roles across Africa and South Asia. Her positions included Resident Representative for Liberia and Sierra Leone, Senior Country Officer for Bangladesh covering Bangladesh, Bhutan, and Nepal, and acting Cluster Manager during the COVID-19 pandemic and the subsequent transition period.
Ms. Anwar also served as an IFC Country Officer in Botswana and Namibia, where she played a key role in establishing IFC’s presence in Gaborone and advancing a sustainable investment program, including IFC’s first investment in Botswana. She offers deep expertise in capital management, treasury and liquidity, transaction services, portfolio optimization, and market advocacy. Earlier in her career, she spent 16 years with Citibank Bangladesh and Standard Chartered Bank Bangladesh in various senior management roles.
Ms. Anwar holds a Master’s degree in Commerce (Finance) from the University of Dhaka.
On her appointment as the Managing Director of DSE, the Chairman of the Board of DSE Mr. Mominul Islam said, “We are pleased to receive the approval of BSEC for appointment of Ms. Anwar as the new Managing Director. Over the last one year the NRC and Board of have worked hard to recruit a competent leader as the MD of DSE. We are confident that Ms. Anwar, with her excellent leadership trait, vast experience in the financial sector in home and abroad and deep passion for transformation in the Capital Market of the Country, is the right candidate to lead DSE in the days ahead. Now, we will complete the internal processes to onboard Ms. Anwar at soonest.”
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.
