Stocks
DSE’s errors, Islami Insurance trade blocked
One of the listed new companies listed in the capital market Islami Commercial Insurance could not start trading due to a mistake of the Dhaka Stock Exchange (DSE). Islami Commercial Insurance was traded on CSE on Wednesday (December 14) but not on DSE. For that reason, the new date has been fixed on December 18.
In this regard, it has been said on behalf of DSE, “Due to unavoidable reasons, the share trading of Islami Commercial Insurance Company will start on December 18 instead of December 14.”
In the tumultuous capital market, the shares of the company raised in the IPO were not traded at the scheduled time amid a series of mistakes by DSE.
Sources responded the trades could not be started due to an error in the company’s trading code. Due to this the trade time has been changed and fixed on December 18.
When asked, a senior DSE official told Orthosongbad that the trade could not be started due to a mistake in the trading code. A new date has been set. The trade will start from next Sunday. But IT people can tell what kind of mistake has happened.
DSE Chief Regulatory Officer (CRO) Khairul Bashar phoned Abu Taher Mohammad’s several times to inquire about this, but he did not answered. At the same time, he texts but did not get any response either.
Prior on October 24 and October 30 this year, due to technical errors, transactions were not possible at the scheduled time in DSE. In this incident, Chief Technology Officer (CTO) Ziaul Karim was sent on compulsory leave by the regulatory agency BSEC.
The company’s IPO was approved in the 838th meeting of the Bangladesh Securities and Exchange Commission (BSEC) on September 15. (N) Category Islami Commercial Insurance’s trading code on DSE will be ICICL, and its company code is 25756. The company sent the shares allotted in the IPO to the applicants as Beneficiary Owners (BOs) on December 13. Applications for the company’s IPO were accepted from November 20 to November 24.
The general insurance sector company issued 2 crore 2 lakh 61 thousand 106 shares at the price of 10 taka each to raise 20 crore 26 lakh 11 thousand 60 taka from the sharemarket.
As per the last published audited financial statement for the financial year ended December 31, 2021, the company’s earnings per share (EPS) stood at Tk 1.82 paisa.
During this period the net asset value per share (NAVPS) including revaluation stands at Tk 20.96 paisa. And excluding revaluation, it is 17 taka 48 paisa.
ICB Capital Management, Prime Finance Capital Management and EC Securities Limited are acting as IPO issue managers of the company. Islam Aftab Kamrul & Company is acting as an auditor.
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has lost 1,156 points during the week. At the end of the week, the index stood at 73,088 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange dropped by 372 points last week. At the end of the week, the index stood at 22,147 points.
Pakistan Stock Exchange Index ‘KSE 100’, gained 592 points last week. After a week of gaining, the index settled at 70,944 points.
On the other hand, The Sri Lankan stock market index hiked, and the Colombo Stock Exchange index ‘ASPI’ decreased by 280 points in a week. After a week the index settled at 11,753 points.
Bhutan’s stock market index ‘BSI’ added 13 points hence the index stood at 1,526 points throughout the whole week. Nepal’s ‘NEPSE’ lost 52 points, therefore the index stands at 1,972 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ lost by 177 points or 3.03 percent, in the outgoing week. At the end of the week, the index stands at 5,686 points.
Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a massive drop in Indices & Turnover on the other hand Market Capitlization hikes throughout the whole week. This information was disclosed in the weekly market review from the DSE.
According to sources, (4 working days) the turnover of DSE lost by Tk 261 crore 38 lakh (April 15 – April 18). At the same time, the market capitalization has increased by 21 thousand 590 crore taka.
The benchmark index ‘DSEX’ lost by 177 points or 3.03 percent, in the outgoing week. At the end of the week, the index stands at 5,686 points. The Shariah-based index ‘DSES’ added 35.74 points or 2.79 percent and therefore the index stands at 1,246 points. The blue-chip index ‘DS30’ increased by 47.81 points or 2.35 percent, hence the index stands at 1,984 points.
Shares and units worth 1 thousand 912 crore 81 lakh taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 7 lakh 63 thousand 251 crore 62 lakh taka.
Shares and units of 411 companies were traded on Bourse during the week. Of these, 21 shares were unchanged, 285 companies declined, and 89 companies advanced.
Asiatic Laboraitories Limited has ranked at the top of weekly trading on DSE. The Company records an average turnover of 23 crore 46 lakh taka.
Asiatic Laboratories Limited ranked at the top of weekly gainers on DSE. The share has risen 18.14 percent to its highest price.
National Bank Limited has ranked at the top of weekly losers on DSE. The share has dropped 14.29 percent lowest in the last week.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 18th, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.
522 crore 51 lakh taka shares were traded on this day. 39 crore 97 lakh more tradings were done in DSE today compared to the previous workday, 17th April , Shares worth Tk 482 crores 53 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 77.08 points or 5,686 The Shariah-based index DSES dropped 15.85 points or 1,246, and the blue-chip index DS30 decreased by 22.77 points or 1,984.
Of the issues traded, 29 advanced, 342 declined and 24 remained unchanged.
Asiatic laboratories Limited ranked top gainer on DSE, the share price increased by Tk 4.60 paisa or 9.96 percent. On this day, the share was last traded at Tk 50.80 paisa.
Far East Finance & Investment Limited ranked top loser on the DSE, the share price dropped by Tk 0.30 paisa or 6.97 percent. On this day, the share was last traded at Tk 4.00 paisa.
DSE topped on trade is Asiatic Laboratories Limited 39 crore 22 lakh takas of company shares have been traded.
A total of 40 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 47 lakh 25 thousand 651 shares of the companies were traded. The financial value of which is 17 crore 46 lakh taka
