Stocks
DSE Weekly Losers Charts Shows Chaotic Reports
The recent weekly report by Dhaka Stock Exchange (DSE), the country’s main stock exchange, has come under scrutiny due to inaccuracies in the information presented. The report published last week showcased a list of top ten losers, but this time, there have been discrepancies in the percentage declines of certain companies compared to the previous reports. Notably, some companies with lower share losses were ranked at the top of the losers’ list, while those with higher declines were placed towards the end. This unexpected ranking has raised concerns among investors and the financial community.
According to the report, the highest percentage loss was recorded by Rupali Bank Limited, with a decrease of 11.08% in share value during the past week. Following closely, Al-Arafah Islami Bank Limited saw a decline of 0.42%, securing the second position in the top losers’ list. Shahjalal Islami Bank Limited ranked third, experiencing a 0.54% drop in share value. Union Capital Limited took the fourth spot with a decrease of 3.19% in share value, while the fifth position was occupied by CPIM IBBL Islamic Mutual Fund, which saw a decline of 8.33% in share value.
As per the standard practice, the DSE compiles and presents the list of top ten losers and gainers in terms of percentage changes in share prices. However, this time, the rankings on the losers’ list deviated from the norm, leading to confusion among investors.
DSE’s Managing Director, M. Saifur Rahman Majumdar, attributed the errors to a possible issue with linking the data in the Excel sheet used for the report. He assured that the matter would be investigated further to prevent such discrepancies in the future.
DSE’s Research Department, led by AM Mahfuzur Rahman, Assistant General Manager, disclosed that the loser’s list is linked to an Excel file (Microsoft Excel). However, there seems to be confusion as to whether there may be issues with the Excel link. Further investigation at the office is needed to ascertain the matter.
Mohammad Rezaul Karim, the Executive Director of the Bangladesh Securities and Exchange Commission (BSEC), stated that DSE will be responsible for confirming if any errors have occurred. In the event of inaccuracies, appropriate measures will be taken by BSEC to prevent such incidents in the future.
It is notable that this is not the first instance of misinformation leading to investor confusion by DSE. In previous instances, there have been multiple occurrences of providing erroneous data. For example, on January 31 of the current year, the financial report of Eastern Cables Limited was mistakenly published as a top loser, despite the company’s profit earnings. A similar incident was observed the following day when another listed company, Beach Hatchery Limited, had its financial report misrepresented.
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
