Stocks
DSEX inches up amid fair increase in turnover
With investors’ increased appetite for a wide range of stocks that have been in a remedy stage for the last couple of sessions, DSEX, the broad-based index of the Dhaka Stock Exchange (DSE) inched up 0.14pc on Tuesday to close at 6,537 points.
The blue-chip index DS30 and Shariah index DSES inched down as investors booked profits from most of the selective stocks after some quick gains in a week.
“The market has been witnessing jerky rides as investors are watchful due to recent upward momentum in the market,” wrote EBL Securities in its daily market commentary.
Moreover, investors were unable to settle for particular sector-specific stocks since they were focusing on reshuffling their portfolios due to having expectations from the upcoming earnings declarations, it added.
Meanwhile, the Dhaka bourse also observed a slight increase in participation while the total turnover increased by 8.8pc to Tk1,480 crore.
Pharmaceuticals, miscellaneous, and engineering sectors contributed a maximum of 20.2pc, 19.7pc, and 10.4pc of the daily turnover respectively.
Most of the sectors displayed mixed returns, while jute, ceramic, and IT, having comparatively smaller market capitalizations, gained the most – 7.4pc, 2pc, and 1.8pc respectively.
Services and real estate, cement, and pharmaceuticals suffered the highest corrections of 1.9pc, 0.6pc, and 0.5pc respectively.
As many as 129 scrips advanced in the DSE against declines of 108, while the price of 140 scrips remained unchanged.
CSCX and CASPI, the broad-based indices in the Chittagong Stock Exchange, closed 0.2pc higher while turnover in the port-city bourse increased by 25pc to Tk35 crore.
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.
The Bangladesh Securities and Exchange Commission (BSEC) has removed three audit firms from its panel for their failure to secure enlistment with the Financial Reporting Council (FRC), according to a notice issued today.
The firms—A Hoque & Company, FAMES & R, and SK Barua & Company Chartered Accountants—were delisted following the FRC’s request. In December last year, the FRC published a list of enlisted audit firms and subsequently, in February, requested the BSEC to remove any firms that were not included on that list.
BSEC regulations mandate that financial statements signed by auditors outside its approved panel will not be accepted. With the removal of these three firms, the total number of audit firms on the BSEC panel has been reduced from 48 to 45.
Sources from the FRC revealed that 15-20 audit firms failed to secure enlistment last year, and approximately 45 chartered accountants are currently under restrictions imposed by the Institute of Chartered Accountants.
Although the delisted firms can no longer audit issuer companies or listed securities, they are allowed to complete audit and assurance services that were initiated before their removal, the BSEC clarified.
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