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Weekly Bourse Performed Mixed

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Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a hikes in turnover & drop in Market Capitalization. On the other hand, Index performed mixed. This information was disclosed in the weekly market review from the DSE

According to sources, (5 working days) the market capitalization of DSE dropped by Tk 210 crore 75 lakh 60 thousand 703  (7 May – 11 May). At the same time, the turnover has gained by 1 thousand 549 crore 15 thousand 106 taka.

The benchmark index ‘DSEX’ increased by 3.27 points or 0.05 percent, in the outgoing week. At the end of the week, the index stands at 6,272 points. The Shariah-based index ‘DSES’ gained 4.63 points or 0.34 percent and therefore the index stands at 1,372 points. The blue-chip index ‘DS30’ shed 10.39 points or 0.47 percent, hence the index stands at 2,194 points.

Shares and units worth 3 thousand 957 crore 35 lakh 53 thousand 591 taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 7 lakh 66 thousand 106 crore 74 lakh 95 thousand 371 taka.

Shares and units of 402 companies were traded on DSE during the week. Of these, 226 shares were unchanged, 47 companies declined, and 118 companies advanced.

Bangladesh Shipping Corporation has ranked at the top of weekly trading on DSE. It is known that 1 crore 20 lakh 78 thousand 348 shares of the company were traded throughout the week. Its market value is 157 crore 17 lakh 47 thousand takas.

Apex Foods Limited has ranked at the top of weekly gainers on DSE. It is known that the share traded a total of Tk 68 crore 81 lakh 17 thousand, which is an average of 13 crore 76 lakh 23 thousand 400 per day. The share has risen 27.70 pc to its highest price.

Sea Pearl Beach Resort & Spa Limited has ranked at the top of weekly losers on DSE. It is known the share traded a total of Tk 120 crore 20 lakh 74 thousand, which is an average of  24 crore 4 lakh 14 thousand 800 shares per day. The share has dropped 15.68 percent lowest in the last week.

/NR

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European Stock Market Shows Varied Performance in the Previous Week

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In the Outgoing week, the European stock market displayed a losing performance.

The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a slight gain of 0.54 points to close at 462.15.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed significant drops, lost 20 points or finishing the session at 7,607.

In Germany, the DAX 30 index added 68 points to reach 16,051, while France’s CAC 40 also shed 49 points to stop at 7,270 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, was the best performer of the day, gained 355 points to 27,068. Also, Spain’s IBEX 35, increased by 132 points, to close at 9,323.

Read More: European Stocks Displayed Varied Performance Over the Past Week

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South Asian Stock Markets Soar in Performance during the Recent Week

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South Asian Bourse or Stock Markets saw gain performance last week.

Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a hikes in turnover,Market Capitalization & Index. This information was disclosed in the weekly market review from the DSE

According to sources, (5 working days) the turnover of DSE gained by Tk 935 crore 77 lakh 48 thousand 732  (28 May – 1 June). At the same time, the market capitalization has gained by 1 housand 721 crore 30 lakh 42 thousand 833 taka.

The benchmark index ‘DSEX’ increased by 29.82 points or 0.47 percent, in the outgoing week. At the end of the week, the index stands at 6,355 points.

A review of South Asian markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has gained 46 points during the week. At the end of the week, the index stood at 62,547 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange added by 35 points last week. At the end of the week, the index stood at 18,534 points.

Pakistan Stock Exchange Index ‘KSE 100’ hiked 354 points last week. After a week of gaining, the index settled at 41,356 points.

On the hand The Sri Lankan stock market dropped, the Colombo Stock Exchange index ‘ASPI’ increased by 70 points in a week. After a week the index settled at 8,767 points.

Bhutan’s stock market index ‘BSI’ rose by 30 points and the index stood at 1,332 points throughout the whole week. Nepal’s ‘NEPSE’ lost by 93 points last week, as the index stands at 1,866 points.

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BSEC Declines Islam Oxygen’s IPO Application

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The initial public offering (IPO) application of Islamic Oxygen Limited, seeking to be listed on the stock market through the primary public offering, has been rejected by the Bangladesh Securities and Exchange Commission (BSEC). The institution’s application was canceled by the regulatory authority due to the involvement of controversial figure Kazi Saifur, who had multiple previous convictions by the BSEC for various offenses. Moreover, Kazi Saifur had also been banned from the stock market for an extended period of time.

On Thursday, June 1, the Managing Director and spokesperson of the Bangladesh Securities and Exchange Commission (BSEC), Mohammad Rezaul Karim, confirmed the cancellation of the IPO application of Islam Oxygen Limited. It had been pending for a considerable period. However, the company has showcased its financial stability by demonstrating substantial assets. Nevertheless, the company failed to provide evidence of sales. In addition, there is an ongoing writ petition in the High Court regarding the value-added tax (VAT) exemption by the National Board of Revenue (NBR). Considering these factors, the IPO application of the company has been revoked.

Kazi Saifur, who had previously been involved in facilitating the listing of several weak companies in the stock market, was working as a pathway to bring Islam Oxygen into the share market. He particularly assisted these companies in preparing fabricated financial statements for listing.

Notably, Islam Oxygen Limited had sought to raise Tk 93 crore through the book-building method from the stock market. The company held its roadshow on October 25, 2021. Janata Capital and Investment Limited was responsible for managing the issue, while Sonali Investment Limited acted as the registrar to the issue. However, indirectly, the primary responsibility of the issue management was carried out by the controversial Shahjalal Equity Management. This same institution had already listed several weak companies in the stock market by providing fabricated financial statements. Furthermore, Kazi Saifur Rahman, a controversial figure in the stock market, is also associated with the ownership of Shahjalal Equity Management.

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