Stocks
BSEC, DSE Unite to Combat Gossip: Sheikh Shamsuddin
Attempting to influence the market in various ways, gossip spreads, creating a cycle that impacts the Capital market. This leads to losses in the stock market, affecting investors. The cycle always seems to benefit from the rumors. To protect the market from such gossip, Dr. Sheikh Shamsuddin Ahmed, Commissioner of the Bangladesh Securities and Exchange Commission (BSEC), has advised not to turn a deaf ear to such rumors.
Recently, BSEC Commissioner Dr. Sheikh Shamsuddin Ahmed held an urgent meeting with Dr. A.T.M. Tariquzzaman, Managing Director of the Dhaka Stock Exchange (DSE), regarding the issue of gossip. At this time, he advised investors accordingly.
According to meeting sources, both BSEC and DSE are jointly committed to preventing any kind of gossip-creation attempt. Both institutions are dedicated to making the stock market dynamic and ensuring the utmost protection of investors’ interests.
Sources indicate that recently there have been various rumors circulating regarding the conflict between the Bangladesh Securities and Exchange Commission (BSEC) and the Dhaka Stock Exchange (DSE). BSEC Commissioner Dr. Sheikh Shamsuddin Ahmed stated that it is baseless and mere gossip. Dr. A.T.M. Tariquzzaman, Managing Director of DSE, echoed the same sentiment.
Recently, the country’s stock market has been affected by influential gossip spread on social media platforms like Facebook groups. Gossip often creates instability in the stock market, fostering a speculative atmosphere. Just a few days ago, rumors about floor prices created instability in the market, followed by rumors about shares in the ‘Z’ category, perpetuating a cycle of instability. As efforts are made to dispel these rumors, various baseless rumors are being spread between the regulatory bodies BSEC and DSE. Rumors are circulating Despite the BSEC Chairman’s absence from the commission. Such gossip contributes to market instability, although stakeholders have assured that these rumors are baseless.
Additionally, during Ramadan, a type of gossip regarding transactions also circulates in the stock market. Typically, the stock exchange determines transaction times. However, it is necessary to inform the regulatory authority. Since the country has two stock exchanges, it’s convenient for transactions to occur simultaneously on both. Otherwise, discrepancies in transactions, indices, and prices may arise. Hence, to facilitate coordination, transaction times are fixed.
On this matter, Dr. Sheikh Shamsuddin Ahmed stated, “We work for the overall interest of the market. The interests of investors are paramount. We have endured difficult times over the past three years due to the coronavirus pandemic. Everything was at a standstill. During this time, we have endeavored to keep the market operational.”
He further added, “When it comes to work, differences of opinion may arise. However, we must work within the framework of the law. We have no distance with DSE. The commission and the exchange work with the same objective for the betterment of the stock market. Accepting rumors for the sake of the market’s interest will not be tolerated. There is no conflict between the two institutions. Both are steadfastly working towards the same goal.”
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.
