Stocks
“Investors who bring the floor price should raise it by themselves”
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam stated that every decision in the stock market tends to provoke either anger or joy among individuals. In such cases, we tend to favor what the majority desires or what will be beneficial. We do not want floor prices, but those who bring up this issue here (investors) will have to raise the floor price themselves. We will not increase the floor price.
On Tuesday (23 May), during the inauguration ceremony of the new brokerage house of Gibson Securities Limited at Dhaka Stock Exchange (DSE), the principal guest expressed these views.
The BSEC Chairman mentioned that the newly approved brokerage houses are improving the stock market. Our decision to grant licenses to new brokerage houses was accurate.
Regarding the investors’ intentions,he said there will be no repetition of 1996 or 2010 in the stock market. If anyone manipulates after the increase in floor price, we will revert back to the floor price. You all are engaged in business. We hope that soon all companies will rise above the floor price. Through investment in the capital market, there are opportunities to improve your future days. If everyone actively participates in the market, everyone will benefit.
Professor Shibli Rubayat-Ul-Islam said, “We are trying to bring good companies to the stock market. However, when we enforce governance and compliance, companies are not eager to come. Even the companies that come are not preferred.”
He mentioned that government bonds offer higher returns than FDIs. However, none of you are engaging in buying and selling them. Despite that, government securities are currently providing returns of up to 11%. Therefore, brokerage houses need to market government securities.
Mr. Md. Abu Naser, Director, FBCCI, Mr. Amzad Hossain, Director-In-Charge, FBCCI Standing Committee on Capital Market & Bond, Mr. Richard D’ Rozario, President, DSE Brokers Association of Bangladesh, Mr. Md. Sayadur Rahman, President, Bangladesh Merchant Bankers Association, Mr. M. Shaifur Rahman Mazumdar, FCA, FCMA, Managing Director (Acting), Dhaka Stock Exchange Limited, and Dr. Rezwanul Huque, Professor, Institute of Business Administration (IBA), University of Dhaka attended as Special Guests. Mr. Mohammad Gulam Mustafa Bhuiyan, Managing Director, Gibson Securities Limited and other officials of the organization were also present.
Major General Mohammad Quamruzzaman (retd) has stepped down from his role as an independent director of the board of the Dhaka Stock Exchange, citing personal reasons.
He also served as a member of the DSE’s Nomination and Remuneration Committee (NRC).
Quamruzzaman was appointed to the DSE board on 1 September 2024, following the fall of the Awami League-led government. After serving for nearly one year and nine months, he submitted his resignation on Saturday (24 May).
Speaking to Quamruzzaman confirmed his resignation, saying, “Yes, I have resigned as an independent director for personal reasons.”
Md Shafiqur Rahman, Deputy General Manager of Public Relations and Publications at the DSE, said Quamruzzaman submitted a resignation letter mentioning personal reasons behind his decision.
“The DSE board will now take a decision regarding the resignation,” Shafiqur Rahman said.
He also indicated that Quamruzzaman may be planning to join another company, which could have influenced his decision to resign.
Earlier, another independent director of the DSE board, Shahnaz Sultana, also resigned from her position. She was likewise a member of the NRC.
According to the DSE annual report, Shahnaz Sultana is the CEO and Chief Consultant of FINS Alliance Risk Advisory and Consultancy and has served as the Founder and Chairperson of the WE Global Women Foundation since 2020.
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
