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.
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
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.
