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South Asian Stock Markets Witness Diverse Performance in Key Indices says Weekly Reports

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has dropped 589 points during the week. At the end of the week, the index stood at 66,009 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange declined by 145 points last week. At the end of the week, the index stood at 19,674 points.

Pakistan Stock Exchange Index ‘KSE 100’, gained 359 points last week. After a week of gaining, the index settled at 46,436 points.

On the other hand The Sri Lankan stock market index drops, the Colombo Stock Exchange index ‘ASPI’ decreased by 210 points in a week. After a week the index settled at 11,256 points.

Bhutan’s stock market index ‘BSI’ has slightly dropped by 42 points hence the index stood at 1,377 points throughout the whole week. Nepal’s ‘NEPSE’ added by 97 points last week, as the index stands at 2,029 points.

Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a hike 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 hiked by Tk 1 thousand 140 crore 41 lakh (17 September – 21 September). At the same time, the market capitalization has increased by 3 thousand 168 crore 35 lakh 87 thousand 674 taka.

The benchmark index ‘DSEX’ surged by 7.71 points or 0.12 percent, in the outgoing week. At the end of the week, the index stands at 6,309 points.

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Beximco Taps Iqbal Ahmed as New Managing Director

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Beximco Pharmaceuticals has announced the appointment of Iqbal Ahmed, a current director, as the new managing director for a five-year term.

hmed, who has been serving on the board since 1985, will assume the role pending approval from shareholders at the upcoming annual general meeting. The move follows the resignation of the company’s former managing director, Nazmul Hasan, who stepped down from the position after assuming a ministerial role in the government.

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6 More Companies to Enter ‘Z’ Categories Starting Tomorrow

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Starting tomorrow, Monday (March 4), shares of six companies will be transferred to the ‘Z’ category on the Dhaka Stock Exchange, as directed by the Bangladesh Securities and Exchange Commission (BSEC).

The decision stems from various factors, including the failure to host the annual general meeting, production shutdown for over six months, and many other reasons.

However DSE mentioned two companies from the textile sector, two from the pharmaceutical and chemical sector, one from the financial sector, and one from the insurance sector. The affected companies are Prime Textile, Prime Finance, New Line Clothings, Far East Islamic Life Insurance, AFC Agro Biotech, and Active Fine Chemicals Limited. The ‘Z’ category is typically assigned for companies facing financial troubles or regulatory issues, signaling caution for investors.

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Grameenphone’s Stock Plunge 8.72% after Lifting Floor

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The stock of Grameenphone (GP) experienced a significant decline of 8.72% immediately after the removal of the floor price restriction.

According to the directive of the Bangladesh Securities and Exchange Commission (BSEC), the floor price restriction on shares of Grameenphone Limited is set to be lifted from today, March 3rd.

Yesterday, GP shares were traded at Tk286.60 each. However, Today, experiencing a drop of Tk25.00 from the opening price at the Dhaka Stock Exchange (DSE). The session witnessed the exchange of a total of 7 lakh 43 thousand 710 shares, amounting to Tk19 crore 46 lakh.

This downturn in GP stocks had a notable impact, resulting in a decline in the key index DSEX, settling at 6,215 by the end of the day trading. The Bangladesh Securities and Exchange Commission (BSEC) had earlier issued a directive to withdraw the floor price restriction on Grameenphone stocks on 3 March. The floor price is the lowest set by the securities regulator, determining the minimum price at which a stock can be traded. In January, the BSEC lifted the floor price for most stocks, 18 months after its introduction.

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