DSE
Stocks regain on day 2 after lifting floor price, turnover crosses Tk1000 crore
The capital market of the country turned around on Monday, and turnover exceeded Tk1000 crore for the first time in 6 months, on day 2 of lifting the floor price (minimum selling rate).
The Dhaka Stock Exchange (DSE) index fell sharply on Sunday, the first working day after the floor price was lifted. Turnover too was subdued.
However, after a day on Monday, the index closed higher on the second working day. Also, after six months, the turnover in the market exceeded Tk1000 crore.
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Shares and units of 207 companies increased in DSE on this day. On the contrary, the price of 145 decreased. And the price of 40 remains unchanged. The main price index of DSE DSEX increased by 14 points to 6254 points.
Among the other two indices, DSE Shariah increased by 6 points to 1,380 points compared to the previous day. The DSE-30 index has increased by 10 points compared to the previous day and stands at 2147 points.
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At the end of the day, Tk1042.22 crore was traded in DSE, which was Tk588.87 crore on the previous working day (Sunday).
The top 10 companies traded on DSE were BD Thai Aluminum, Associated Oxygen, Orion Infusion, LafargeHolcim Bangladesh, Karnaphuli Insurance, Deshbandhu Polymer, Sea Pearl Beach Resort, Beach Hatchery, Santhani Life Insurance, and Bangladesh Shipping Corporation.
DSE launches new data center for uninterrupted transactions on stock market
However, the overall price index of Chittagong Stock Exchange (CSE) CASPI decreased by 93 points. Out of 267 firms participating in the market, 123 rose in price. In contrast, the prices of 118 decreased and 26 remained unchanged.
Tk21.81 Crore traded on Monday at the CSE, which was Tk12.74 Crore traded on the previous working day (Sunday).
80 percent of brokerage houses struggling
About 80 percent of brokerage houses have been struggling to meet their operating expenses for the last one and a half years due to the floor price barrier, the sector’s leaders said on Thursday.
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They said that trading in the country's stock market has decreased significantly due to the fixing of the floor price (minimum selling rate) by the regulator.
They said this in a views exchange meeting with members of the DSE Brokers Association of Bangladesh (DBA) and Capital Market Journalists Forum (CMJF) at the DSE Tower in Nikunjs of the capital on Thursday.
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Saiful Islam, President and Director of BRAC EPL Stock Brokerage Limited, Senior Vice President and Managing Director of IDLC Securities Muhammad Saifuddin, Vice President and Managing Director of Eminent Securities Umar Haider Khan, CMJF President SM Golam Samdani Bhuiyan, General Secretary Abu Ali, Former President Ziaur Rahman, and Vice President Babul Burman, among others, were present in the meeting.
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DSE launches new data center for uninterrupted transactions on stock market
Dhaka Stock Exchange (DSE), the main stock market of Bangladesh on Sunday launched a new data center to ensure automated and uninterrupted transactions.
The DSE authorities have claimed it is a state-of-the-art data center with 106 racks, a press release said.
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The data center has already achieved ANSI/TIA-942, Rated-3 (Design and Construction) international standard certification, DSE said.
Rated-3 data centers have multiple paths to keep power, cooling, and other systems updated and running without taking them offline. As a result, equipment/devices can be removed/replaced/maintained on a planned basis without disrupting application operations, said the DSE.
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On November 12, the DSE announced that trading activities have been launched from the new data center at DSE Tower in Nikunja. It further stated that trading activities are being conducted successfully through the new data center since its commissioning.
According to DSE, the new data center has been equipped with state-of-the-art servers, network components, storage, and electrical equipment. By launching this state-of-the-art data center, DSE has ensured a highly reliable and modern trading platform for the benefit of investors and all stakeholders.
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DSE Chairman Professor Dr. Hafiz Muhammad Hasan Babu, Director Rubaba Daula, Managing Director Dr. ATM Tariquzzaman, Chief Operating Officer M. Saifur Rahman Majumder, Acting Chief Technology Officer Tariqul Islam, among others, were present in the opening transaction ceremony.
Small investors’ woes in capital market unlikely to end before national polls: Analysts
Small investors in the stock market are frustrated as their wait for a good time gets delayed by the Bangladesh’s ongoing political unrest.
The political impasse over who should oversee the upcoming national polls is thwarting the stock market’s recovery from Covid-19 pandemic and the Ukraine-Russia war.
The small investors’ shares are stuck on the floor price (minimum sale rate) and overall economic downfall. This has been painful for many unfortunate small investors of the capital markets, according to market analysts.
Policymakers and the Bangladesh Securities and Exchange Commission (BSEC) paint a rosy picture for small investors saying that stock markets will rebound with enlistment of new companies and injection of big investments. But the situation for the small investors seems to be hopeless.
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A large number of shareholders have remained stuck with their investment in the capital market for over a decade amid fading hopes.
“No one, not even the regulator or stock market authorities pay heed to their screams,” Abdul Latif, a grocery owner and one of the affected investors, told UNB in a broken voice. He said he invested Tk13 lakh in 2011 to buy shares of different companies listed in Dhaka Stock Exchange (DSE).
After graduation in 1998 Latif found no suitable job and then started a small business in the Motjheel area in 2002 with support from his father-in-law. He made a good profit in the business and invested money in the share market.
In 2010 Latif invested around Tk13 lakh of which 5 lakh was his own and 8 lakh borrowed from relatives. All of his investment was stuck in shares of different companies due to a big scam in the capital market in 2011.
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Like Latif, thousands of investors lost their hard-earned capital in 2011, and after that, some were able to gain part of the capita. But most of them left the capital market losing nearly all investment.
Many of such investors are still in the market hoping for a rebound in the DSE, but without any good news.
There is no sign of lifting the floor price before the next election. However, economists say that people do not have confidence in the market. BSEC advises investors to be patient until the general election is held by January next.
Dr ABM Mirza Azizul Islam, an economist and a former adviser of a caretaker government, told UNB that there has been a crisis in investors' confidence in the stock market for a long time.
“To this are added various economic crises, the international situation, and everything including elections and national politics,” he said.
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As a result, first of all, steps should be taken to eliminate the trust crisis. In this case, trust should be ensured by establishing good governance, he said.
That is, the investors have to be given the assurance that if someone steals their money through manipulation, they will be prosecuted. Besides, the supply of good shares should be increased. Through these two steps, it is possible to eliminate the market problem. But it is not easy at all, said Dr Azizul Islam.
Dr Abu Ahmed, former professor of Dhaka University’s Economics Department, said there are two crises in the market: one on the demand side and the other in investor confidence.
On the supply side, the problem is that there are fewer good companies. As a result, it is a win-win situation for manipulation and syndicates, he said.
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All in all, the stock market is currently in an unstable condition and gradually the situation is getting worse. The passage from here is very difficult, he said.
According to market insiders, the stock market situation is in a dire. The situation is not improving due to political uncertainty ahead of national elections, increases in commodity prices, and various international issues.
The market has lost its importance to the government as well. For those who are not directly involved with government policymakers, the stock market is a source of irritation.
Their thinking is like this - if there is no stock market, there will be no problem in the country. For these reasons, the government wants to hold the market with floor prices until the next national election. This brings an opportunity for syndicates blessed by the regulatory body to be controlling the market, the market insiders said. They spoke on condition of anonymity.
BSEC Chairman Professor Shibli Rubayat Ul Islam told UNB in this regard that the global situation is not in the hands of the regulator or the government. Investors should beware of investing with any company depending on rumours.
He also said due to a lack of financial literacy, people are sometimes investing in weak shares with an expectation of big profit which is not the right way of investment.
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DSE gets new managing director
Former executive director of capital market regulator Bangladesh Securities and Exchange Commission, Dr ATM Tariquzzaman, joined the Dhaka Stock Exchange as its new managing director on Sunday.
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The BSEC approved his appointment on August 8. He was appointed as MD of DSE for the next three years after the resignation of Tariq Amin Bhuiyan.
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Tariq Amin Bhuiyan submitted his resignation on 23 August 2022. Before this, professors Swapan Kumar Bala (late), KAM Majedur Rahman, and Kazi Chanaul Haque worked as MD of DSE.
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DSE urges tax exemption on earned interest in bond market
The Dhaka Stock Exchange (DSE) on Tuesday urged the government to consider its 6-point proposal on the budget for the fiscal year 2023-24, to encourage investment.
DSE Board of Directors Chairman, Professor Hafiz Hasan Babu made the call from a 'post-budget press conference' at a hotel in the capital on Tuesday.
The proposals are tax-exemption for earned interest on bonds, to reduce the tax gap between listed and non-listed companies to 10 percent, reduce VAT from 15 percent to 10 percent for companies in the capital market, reduce the tax gap to 10 percent for stock exchange SME companies, and reduce tax at source on broker houses’ transactions.
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In a written speech at the press conference, DSE Chairman said that currently, the size of the corporate bond market is very small which creates limitations in the capital market as well as in the financial market.
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“A well-functioning bond market can help the economy in several ways. Exemption of tax on interest in all types of bonds would encourage creating a strong bond market," he said.
Stock market gained over Tk 10,185 crore capital last week
The stock market has passed the 4th week of the current month with a capital gain of Tk 10,185 crore in four days, data analysis of the capital market has revealed.
The capital of Dhaka Stock Exchange (DSE) was Tk 7.56 lakh crore at the beginning of trading on the first working day of last week. On the last day, after transaction on Thursday (January 26, 2023), the capital stood at Tk 7.67 lakh crores.
In other words, the capital has increased by Tk 10185 crore. It increased by Tk 2149 crore in the previous week. The investors' capital increased in the market for two consecutive weeks.
In the past week (January 22 to 26), trading was done on five working days. The first trading day marked a fall in the index, followed by four consecutive trading days during which the index rose from Monday to Thursday.
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During this period, a total of 387 shares and units were traded in DSE. Among them, 63 companies' share prices increased, those of 119 decreased and 205 unchanged.
Among the companies traded in the previous week, 114 rose, 68 fell and 205 remained unchanged. The number of companies reducing prices has increased compared to the previous week.
However, the main index of DSE increased by 30 points from the previous week to 6,296 points in the outgoing week as the share prices of several companies increased.
Among the other two indexes of DSE, the DSES index increased by 6 points to 1,374 points and the DS-30 index increased by 22 points to 2,230 points from the previous week.
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Although the index has increased, the volume of transactions has decreased. In the last week, the total transaction in DSE was Tk 3050 crores, which was traded in the previous week for Tk 3850 crore. That is, Tk 800 crore worth of transactions have decreased; as a percentage it has decreased by 20.78 percent.
The Chittagong Stock Exchange (CSE), another capital market of the country, was also traded in the same condition.
In the last week, the overall index of CSE increased by 89 points to 18565 points. Tk 63.19 crores were traded during this time, which was traded in the previous week for Tk 104.55 crore.
Among the traded companies, the share prices of 61 companies increased, 83 decreased and 134 remained unchanged.
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DSE market capitalisation increased by Tk4.5 lakh crore in 2022
The market capitalisation of the Dhaka Stock Exchange (DSE) increased by Tk4.47 lakh crore in the outgoing year 2022, as the 250 treasury bonds started trading in the DSE.
Although the index and the share price of most of the companies fell, the market value of 250 treasury bonds and Islamic Sukuk bonds started trading in the capital market for the first time in the DSE.
DSE data shows DSE started trading in 2022 with a market capitalization of Tk 3.14 lakh crore. Then on October 10, 2022, 250 government securities were listed on DSE. The market cap stood around Tk7.73 lakh crore. The market cap slightly decreased to Tk7.61 lakh crore at the end of the year.
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Among the transaction, the trade volume of the block market was Tk14253.19 crore, which is 6.4 percent of the total transaction. This ratio was 3.97 percent of the total transaction in the previous year. The transactions in the block market have increased compared to the previous year (2021).
The investors in the capital market passed another year, along with frustration and uncertainty in the capital market due to the global recession, which erupted from the Covid-19 pandemic and the Ukraine-Russia war.
Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Professor Shibli Rubayat –Ul-Islam told UNB that the regulator is working to improve the market situation through diversified products.
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“But the global situation, which is beyond our control, has created uncertainty in several sectors including capital market,” he said.
DSE share trading between 10am and 2:30pm from tomorrow
Share trading of Dhaka Stock Exchange (DSE) will be held as per the new office schedule – from 10am to 2:30pm – from Tuesday, an official notification said.
The Deputy General Manager of DSE, Shafiqur Rahman, told UNB that as per the directive of the Bangladesh Securities and Exchange Commission (BSEC), the new trading schedule will be in effect from Tuesday.
The BSEC instruction stated that from November 15, 2022, share trading will start at 10am and will continue till 2:30pm. There will be a 10-minute post-closing session. All trading will have to be completed by 2:30pm. There will also be a pre-opening session from 9:55am to 10pm.
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Meanwhile, along with the transaction of DSE, the official time schedule has also changed. On Tuesday, the official function will start at 9am and continue till 4:30pm.
The Chittagong Stock Exchange (CSE) will also follow the same time scheduled for trading.
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Experts urge government to turn DSE into public university
Eminent citizens of the country have urged the government to turn the Dhaka School of Economics (DSE) into a specialised public university.
The request was made at the reception for new undergraduate students and farewell for the departing students of the institution held at the office of the Economic Reporter’s Forum (ERF) on Saturday.
If DSE becomes a full-fledged university, it’ll safeguard monetary, fiscal and external economy and develop more human resources through capacity building with modern inductive learning techniques, said speakers.
Pranab Saha, editor of DBC News was present as the chief guest. Economist and IT expert Professor Muhammad Mahbub Ali was the session chair of the event, while Shaheda Parveen Trisha, Vice Chairperson of Prime Bank Investment Limited, was the special guest.
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Speaking as chief guest, Pranab said that there is no alternative to create entrepreneurs for the development of the country.
“If Masters and PGD courses are introduced for professionals through online in the current scenario like other Global universities, it will be more helpful in creating entrepreneurs,” Pranab said.
Talking as a special guest, Trisha said that to be an entrepreneur, concentration and dedication are required along with hard work.
Later, she encouraged the students with a motivational speech.
The event was followed by a cultural programme.