Stocks
Stock market is the only platform to raise long-term capital: BSEC
BSEC: Bangladesh Securities and Exchange Commission Chairman Professor Shibli Rubayat-Ul-Islam said that the stock market is being given a complete shape by bringing innovative products.
He stated this in the President’s speech at the ‘Investment Education Conference’ organized jointly by BSEC, Bangladesh Academy for Capital Markets (BASM) and Capital Market Stabilization Fund (CMSF) at a convention center in Sylhet on Saturday (January 21). Expatriate Welfare and Foreign Employment Minister Imran Ahmed was the chief guest at the event.
Professor Shibli Rubayat-Ul-Islam said “we are giving a complete shape to the capital market by bringing all innovative products. Many doors are opening for you in alternative finance and investment. By getting your small investments through bonds or equity, big companies are creating big industries in the country. Thousands of people are getting employment. When employment is created from home to home, there will be no way to stop the development of the country. At this moment employment is the only thing we need. Therefore, the only source of long-term investment is the capital market”.
He said, just as you need businessmen, so businessmen also need you. Traders will benefit through investors, giving good returns to investors. We warn, penalize and fine those who do not file returns. Very soon you will see a beautiful Share market.
Regarding investment education, Professor Shibli Rubyat-Ul-Islam said that all brokers and investors are being trained. Because we realized, when people know and understand, no one can deceive them. There will be no word of trust, our work will also decrease.
He said Bangladesh is now the 41st largest economy in the world. We are assured of food, clothing and shelter. We now have to import heavy industries like oil, iron, copper. Bangladesh is now the second-largest exporter of textiles. As the price of the dollar increases, the product has to be bought at a higher price. The result is inflation. If the supply chain is fixed, the price of the dollar will come down. And if the price goes down, our pressure will also go down.
One of the Listed companies, AB Bank PLC has recommended 2% Bonus Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported Consolidated EPS of Tk. 1.02 for the year ended December 31, 2023. NAV per share of Tk. 29.58 paisa.
The Annual General Meeting (AGM) of the company will be held on June 12, through the digital platform. The record date for this has been fixed at May 26.
Q1 Financials: The company’s Consolidated earnings per share EPS was Tk. 0.12 for January – March 2024 as against Consolidated EPS of Tk 0.13 (restated) for January – March 2023. As of March 31, 2024, Consolidated net asset value (NAVPS) was Tk 29.67 paisa.
The review of the U.S. stock markets highlights a mixed performance across different indices during the week. While the Nasdaq Composite recorded a significant hike, reaching a closing value of 16,156 points, the S&P 500 index showed a negative trend despite adding 28 points.
Conversely, the DJIA Index experienced a notable hike, concluding at 38,675 points after a week of gains. The Russell 3000 Index saw a modest gain, while the Russell 2000 Index demonstrated a notable increase. Overall, the week witnessed varied movements in the stock market, with certain indices showing resilience and others experiencing fluctuations.
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 229 points, reaching a closing value of 16,156 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, adding 28 points to settle at 5,127 points. Meanwhile, DJIA Index experienced a notable hike, adding 436 points during the week and concluding at 38,675 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 18 points to reach 2,934 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable gain of 33 points, ending the week at 2,035 points.
In the Outgoing week, the European stock market displayed a losing performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a slight drops of 2.45 points to close at 505.53.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant surge, adding 74 points or finishing the session at 8,213.
In Germany, the DAX 30 index, losing by 160 points to reach 18,001, while France’s CAC 40 decreased by 131 points to stop at 7,957 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 620 points to 33,629. However, Spain’s IBEX 35, fell by 300 points, to close at 10,854.
