Stocks
Treasury bond trading to start this year: BSEC chairman
Treasury bond trading will start this year. Then the growth of the capital market will increase as well as the contribution to the GDP. Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam commented that after a few days we will start all kinds of bond trade, then the market will increase by 50pc.
He said these things in the speech of the chief guest at the round table meeting titled ‘Bangladesh Stock Market: Present and Future’ jointly organized by Capital Market Journalists Forum (CMJF) and Bangladesh Merchant Bankers Association (BMBA) at Hotel Westin on Saturday, September 17.
BSEC Chairman said, 18 of our closed companies have already reopened. There is a possibility that these companies will repay their bank loans. Banks have benefited from this. Also, NBRO will benefit as it will get a big tax from here. So we also need the cooperation of NBR.
Shibli Rubayat-Ul-Islam said, if we compare with any other country on various aspects of the economy, then we must look at the overall condition of that country first. If we talk about the derivative market, then people have to look at it, but in our country, nobody has a good idea about the derivative market.
He said, our mutual funds recent decisions are very good, they are also starting to pay dividends. If not, they are being called and visited. Not only Bangladeshi products but foreign products will be traded in the commodity exchange. The farmer’s paddy will be bought and sold here before it is harvested. If we go to buy its software, then it will take about 100 to 150 crore taka, and if we want to buy better software, then it will take 400 crore taka. We are working on such big projects, the market size will increase if they start soon.
He also said that no matter how much support is given to the capital market, the country’s taxes will increase. If good companies are brought here, they will not have the opportunity to evade taxes. We are thinking of working on a short sale. Prior, to the launch of CCBL, we are thinking of launching a short sale. Because short sale requires the development of trading capacity.
The Chairman of BSEC said that the road shows that we have done are basically going on the instructions of the Prime Minister. We are starting to reap the benefits of this. We will also do road shows in some countries. Basically, when we brand our products abroad through road shows, they become interested in investing here, because high-level government policymakers are present with us in road shows. Foreigners are interested in their beautiful presentation.
President of Capital Market Journalist Forum (CMJF) Ziaur Rahman presided over the event, as President of Bangladesh Merchant Bankers Association (BMBA). Chhaydur Rahman.
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.
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