United News of Bangladesh

Stocks witnessed a sharp downturn on Sunday as major indices of the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) closed significantly lower amid widespread selling pressure. At the DSE, the benchmark DSEX plunged 138 points. The Shariah-based DSES lost 26 points, while the blue-chip DS30 index fell 52 points. Most listed companies ended in the red, with 353 issues declining against 30 gainers and six remaining unchanged. Weekly market wrap: Indices rally at DSE, CSE despite shrinking turnover The turnover also dropped sharply. The DSE recorded transactions worth Tk 775 crore, down from Tk 947 crore in the previous session. In the block market, shares of 23 companies worth Tk 24 crore were traded. Orion Infusion posted the highest block turnover at Tk 4.60 crore. Shinepukur Ceramics PLC topped the gainers’ chart on the DSE, advancing nearly 10 percent, while Bangladesh Welding Electrodes Limited languished at the bottom, shedding around 8 percent. The CSE also experienced a major slide, with its benchmark CASPI index plunging 245 points. Out of the traded issues, 138 declined, 35 advanced and 11 remained unchanged. Stocks advance at DSE, CSE in early trading The turnover at the port city bourse stood at Tk 12 crore, down from Tk 19 crore in the previous trading day. Prime Finance and Investment Limited led the gainers at the CSE with a 10 percent rise, while Apex Tannery Limited was the worst performer, losing 10 percent.

Stocks rebounded on Monday as indices rose at both the bourses—Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) snapping a streak of declines, with most listed companies posting gains. At the DSE, the benchmark DSEX advanced 85 points at the close. The Shariah-based DSES gained 11 points, while the blue-chip DS30 index rose 33 points. The market breadth remained strongly positive as 347 issues advanced against 21 decliners, while 22 remained unchanged. The turnover at the premier bourse increased to Tk 718 crore, up from Tk 568 crore in the previous session. In the block market, shares worth Tk 88 crore were traded from 34 companies, with Olympic Industries PLC dominating the segment with Tk 72 crore worth of shares changing hands. Among individual issues, Energypac Power Generation PLC topped the gainers’ chart on the DSE, rising nearly 9.5 percent, while Meghna Cement Mills PLC was the worst loser, shedding over 5 percent. The CSE also closed higher, with its key CASPI index gaining 147 points. Out of the traded issues, 107 advanced, 43 declined and 16 remained unchanged. The turnover at the port city bourse stood at Tk 18 crore, up from Tk 13 crore in the previous session. Prime Finance and Investment Limited emerged as the top gainer on the CSE with a 10 percent rise, while EXIM Bank 1st Mutual Fund lost nearly 6 percent to become the day’s worst performer.  

The benchmark index of the Dhaka Stock Exchange (DSE) edged up marginally on Sunday, the first trading day of the week, recovering from early losses in the final hour of trading, while the Chittagong Stock Exchange (CSE) failed to rebound. The DSEX, the prime index of the DSE, rose by 1 point at the close after remaining in negative territory for most of the session. Of the other indices, the Shariah-based DSES remained unchanged, while the blue-chip DS30 index advanced by 6 points. Stocks slide in early trade as DSEX loses 20 points Most of the issues declined on the DSE as prices of 194 companies fell against 123 gainers, while 71 remained unchanged. The total turnover at the DSE stood at Tk 568 crore, up from Tk 559 crore in the previous session. In the block market, shares worth Tk 16 crore from 25 companies were traded, with Summit Alliance Port Limited dominating the segment with shares worth Tk 9 crore. Sonargaon Textiles Limited topped the gainers’ list on the DSE, advancing 9 percent, while Asiatic Laboratories Limited was the worst loser, shedding 9.5 percent. Meanwhile, the CSE witnessed a sharp fall as its overall index CASPI declined by 46 points. Of the traded issues, 93 declined, 44 advanced and 13 remained unchanged. Stocks end week sharply lower as DSE, CSE indices tumble The port city bourse recorded a turnover of Tk 13.60 crore, slightly higher than Tk 13.10 crore in the previous trading day. VFS Thread Dyeing Limited gained 7.5 percent to lead the gainers’ chart at the CSE, while Ring Shine Textiles Limited plunged 10 percent to become the day’s worst performer.

The benchmark index of the Dhaka Stock Exchange (DSE) fell on Monday, a day after a major rally, as most listed companies witnessed price erosion and overall turnover declined. On the second trading day of the week, the DSEX, the prime index of the DSE, lost 11 points. The Shariah-based DSES dropped 8 points, while the blue-chip DS30 index shed 9 points. The total turnover at the DSE stood at Tk 1,257 crore, down from Tk 1,275 crore in the previous session. DSE slips, CSE gains in early trading Most of the traded issues ended lower, with 218 companies posting losses against 153 gainers, while prices of 26 companies remained unchanged. In the block market, shares worth Tk 32 crore were traded from 26 companies, with Grameenphone topping the list with Tk 14 crore worth of shares changing hands. Premier Bank PLC emerged as the top gainer at the DSE, advancing nearly 10 percent, while ICB Islamic Bank PLC was the worst loser, shedding around 10 percent. Meanwhile, trading at the Chittagong Stock Exchange (CSE) ended on a positive note, with its benchmark CASPI index rising by 7 points. DSE revises trading hours for Ramadan Out of the traded issues, 116 companies advanced, 90 declined and 22 remained unchanged. The turnover at the CSE, however, dropped to Tk 13 crore from Tk 24 crore in the previous session. Safko Spinning Mills Ltd topped the gainers’ chart at the CSE with nearly 10 percent price appreciation, while Shepherd Industries PLC was the worst performer, losing around 10 percent.

Bangladesh’s capital market closed on a positive note on Monday, with indices at both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) posting notable gains amid higher turnover and broad-based price appreciation. At the DSE, the benchmark DSEX advanced by 82 points. The Shariah-based DSES index rose 11 points, while the blue-chip DS30 gained 33 points. Gainers dominated the market as prices of 327 companies increased against declines in 37 issues, while shares of 33 companies remained unchanged. Stocks open week lower at DSE, CSE despite gains in majority shares The turnover at the premier bourse jumped by about Tk 168 crore to Tk 646 crore, compared to Tk 478 crore in the previous session. In the block market, shares of 27 companies worth Tk 22 crore were traded, with Asiatic Laboratories Limited accounting for the highest turnover at around Tk 5 crore. Sharp Industries PLC topped the DSE gainers’ list with nearly a 10 percent rise, while Islami Bank Bangladesh PLC ended as the worst loser, shedding around 7 percent. The upbeat trend was mirrored at the CSE, where the broad-based CASPI index climbed 109 points. Out of the traded issues, prices of 130 companies advanced against declines in 41, while shares of 21 companies remained unchanged. The turnover at the port city bourse also increased to Tk 8 crore from Tk 6 crore in the previous session. AFC Agro Biotech Limited emerged as the top gainer at the CSE with a 10 percent price jump, while Northern Islami Insurance PLC ended at the bottom, losing 10 percent. Stocks open higher as DSE, CSE indices gain in first hour

Share market analysts have raised a red flag over potential manipulation, with four listed companies with halted or suspended production continuing to trade on the market. Halted or suspended production implies a status in which firms are not generating any revenue. Investing in such firms should not be recommended, said the share market analysts, warning particularly small investors to remain cautious about such companies. “Many traders could knowingly invest in these risky companies for quick profits,” said Tariqul Islam, a long-time investor in the Dhaka share market. Some of these traders could have insider information, enabling timely buying and selling, he said. “But small investors, driven by the greed to make quick bucks, often end up getting trapped with their investment,” he said. For instance, shares of Aramit Cement Limited, which faced struggles operating ever since the Covid-19 pandemic hit, are currently being traded at Tk 11.70 each. In a recent inspection by the Dhaka Stock Exchange (DSE) it was revealed that the cement factory had remained non-operational since before last July. Despite repeated warnings from the DSE, the company’s shares continue to be traded, with significant trading recorded on August 24 and September 3. Govt initiative needed to restore trust of share market investors: Khosru Trading of shares of New Line Clothings Limited continued despite share manipulation taking place involving the company. A share of the company is currently being traded at around Tk 5. The share price had soared to Tk 26 a year ago. A recent probe by the Bangladesh Securities and Exchange Commission (BSEC) revealed that manipulation worth hundreds of crores occurred involving the New Line shares in 2021. In September this year, the BSEC fined five investors Tk 13.33 crore for their involvement in the New Line share manipulation. The New Line shares continue to trade actively in the Z-category, which indicates the company’s inability to give dividends to its shareholders. Currently, 30% of the New Line shares are held by the company’s sponsors and directors, while the rest 70% shares are owned by institutional and individual investors. “These kinds of stocks are like a thorn in the investors’ side,” said Asaduzzaman Asad, branch manager of a Motijheel-based brokerage house. “The regulator should introduce a mandatory buyback law compelling non-performing companies to repurchase their shares. Otherwise, investors will keep falling into these traps,” he added. Another non-operational company, Nurani Dyeing & Sweater Limited, has seen its share price fluctuate between Tk 2.40 and Tk 5 over the past year. Although its operations have been suspended since July, trading in its shares continues. Banks’ additional investment term in share market extended for a year When asked why investors remain interested in such companies, some traders said investors with prior losses are desperate to make financial recoveries. “Low-price shares tempt particularly small investors. Many think it’s worth taking the risk to profit more with less investment,” one investor commented. Ratanpur Steel Re-Rolling Mills Limited (RSRML) has also stopped production since the beginning of the year. Nevertheless, the company’s shares are still being traded, though their price dropped from Tk 15 to Tk 8 in a year. Market analysts warn that the continued presence of such non-performing firms poses a serious risk to market stability. “In the past 15 years, many weak companies were granted IPO approvals. Some of the companies ceased production or even disappeared. Allowing such companies to list discouraged quality firms from entering the market, giving manipulators a free rein,” said Minhaj Mannan, director of the DSE. Investment Corporation of Bangladesh (ICB) chairman Abu Ahmed, however, is still hopeful, saying that several fundamentally strong companies are expected to be listed next year. “Once good companies come to the market, investors’ confidence will naturally improve. The market will be vibrant,” he added.