Dhaka Stock Exchange DSE, Bourse on the last working day of the week, 9th May, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.

911 crore 37 lakh taka shares were traded on this day. 41 crore 78 lakh more tradings were done in DSE today compared to the previous workday, 8th May , Shares worth Tk 869 crores 59 lakh shares were traded last time, Wednesday.

The benchmark DSEX lose 29.73 points or 5,661 The Shariah-based index DSES dropped 7.84 points or 1,242, and the blue-chip index DS30 decreased by 10.98 points or 2,015.

Of the issues traded, 93 advanced, 258 declined and 41 remained unchanged.

Saif Powertec Limited ranked top gainer on DSE, the share price increased by Tk 2.30 paisa or 9.91 percent. On this day, the share was last traded at Tk 25.50 paisa.

Beacon Pharmaceuticals PLC ranked top loser on the DSE, the share price dropped by Tk 5.60 paisa or 2.99 percent. On this day, the share was last traded at Tk 181.80 paisa.

DSE topped on trade is Asiatic Laboratories Limited 39 crore 32 lakh takas of company shares have been traded.

A total of 43 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 74 lakh 75 thousand 869 shares of the companies were traded. The financial value of which is 37 crore 99 lakh taka

Asian traders endeavored to regain momentum in the recent rally on Thursday following a lukewarm performance on Wall Street. However, soaring achievements in Europe underscored optimism surrounding potential interest rate cuts by central banks.

London celebrated another milestone, reaching an all-time high ahead of an anticipated Bank of England meeting. Many anticipate that officials will signal their intention to commence the normalization of monetary policy in the summer.

This development follows Sweden’s central bank’s decision to lower borrowing costs for the first time in eight years, hinting at further reductions in the future.

The Riksbank’s move comes almost two months after the Swiss National Bank’s groundbreaking decision, making it the first major Western central bank to adjust its policies amidst a global tightening campaign aimed at combatting inflation driven by Covid recovery and the Ukraine conflict.

Traders, who had been anticipating rate cuts from the Federal Reserve, experienced a tumultuous journey this year. A series of inflation readings surpassing forecasts compelled them to revise down their expectations. Initially estimated at six, the consensus now stands at around two rate cuts by January 2024.

Several Federal Reserve policymakers have also attempted to moderate expectations. Boston Fed President Susan Collins, the latest to weigh in, suggested that rates might need to remain at their highest levels in two decades for a longer period to rein in prices. Her sentiments echoed those expressed by her Minneapolis counterpart, Neel Kashkari, the previous day.

Nevertheless, a slew of positive corporate results, reassuring remarks from Fed Chair Jerome Powell regarding the likelihood of a rate hike, and a significant shortfall in US jobs data last month have buoyed trader sentiment over the past week.

Analysts maintain a generally positive outlook on equities despite the absence of encouraging news on inflation. Mark Hackett of Nationwide noted, “As the Federal Reserve extends the timeline for interest rate cuts, historical data shows that longer Fed pauses often correlate with better equity returns. This should give investors reasons to be optimistic.”

Following London’s record-breaking performance and gains in Paris and Frankfurt, New York witnessed a mixed session, while Asian markets encountered challenges.

Hong Kong resumed its upward trajectory after a two-day decline following a ten-day winning streak, with Tokyo, Shanghai, and Manila also posting gains. However, Sydney, Singapore, Seoul, Wellington, and Taipei experienced marginal declines.

Oil prices saw a second consecutive increase as investors monitored efforts towards a ceasefire in the Middle East, notwithstanding Israel’s ongoing assault on Rafah in southern Gaza.

Dhaka Stock Exchange’s Managing Director, ATM Tariquzzaman, has been designated as a commissioner at the Bangladesh Securities and Exchange Commission (BSEC), the regulatory authority overseeing the capital market. The Financial Institutions Division (FID) of the Finance Ministry issued a notification confirming this appointment, alongside two other commissioners, including Dr. Shaikh Shamsuddin Ahmed from Dhaka University’s Finance Department, and Md Mohsin Chowdhury, formerly of the Bangladesh Karmachari Kallyan Board (BKKB).

The newly appointed commissioners, as per the gazette, will serve a four-year term upon joining the commission. This announcement comes as the current five-member commission’s tenure is set to conclude this month.

Notably, Dr. Rubana Islam, the current commissioner and the first female to hold the position at BSEC since May 2022, will continue her tenure with the new commission for another two years.

ATM Tariquzzaman’s transition from executive director at BSEC to commissioner underscores his significant role in regulatory affairs. His predecessor, Prof Swapan Kumar Bala, also formerly of DSE, had similarly served as a commissioner.

Dr. Shaikh Shamsuddin Ahmed, a seasoned academic and economist, previously served as a director at Janata Bank and held a senior position at the World Bank’s Dhaka office before his appointment to BSEC.

Md Mohsin Chowdhury, with a background in government service, notably as DG of BKKB, brings valuable experience to his new role as commissioner, effective June 2nd.

This reshuffling within BSEC’s leadership reflects the ongoing efforts to ensure effective governance and oversight within Bangladesh’s capital market regulatory framework.