The securities regulator has widened the scope of investment for directors, officers and employees of stock exchanges and market operators while retaining restrictions on their direct investment in stocks.

According to a new directive issued by the securities regulator, the officials concerned will be allowed to invest in non-convertible bonds, government securities, open-end mutual funds, exchange-traded funds (ETFs) and real estate investment trust (REIT) funds. ETFs and REIT funds, however, are yet to be introduced in Bangladesh's capital market.

Previously, the investment scope was limited to open-ended mutual funds for the targeted group.

The directive covers directors, officers and employees of stock exchanges, Central Depository Bangladesh Ltd. (CDBL), Central Counterparty Bangladesh Ltd. (CCBL), Bangladesh Institute of Capital Market (BICM) and Bangladesh Academy for Securities Markets (BASM).Online newspaper subscription

BICM and BASM have also been brought under the restriction in the latest directive, extending its application to organisations involved in capital market education, training and professional development.

The commission imposed restrictions on their direct investment in shares to prevent conflicts of interest and address concerns over the possible misuse of market-sensitive information by employees of capital market institutions, said Md Abul Kalam, executive director and spokesperson of the Bangladesh Securities and Exchange Commission (BSEC).

The restriction is particularly relevant and important for employees who have access to sensitive information relating to trading, clearing, settlement, depository operations, corporate actions or other market activities before such information becomes widely available.

The move is part of a broader effort to strengthen professional conduct and market integrity rather than merely restrict employees' personal investments, said Mr Kalam.

"The change therefore combines tighter restrictions on direct investment in listed securities with a wider scope for investment in fixed-income and diversified products," he said, adding that the restriction applies to BSEC officers and employees as well, with the directive having come into effect last week.Bangladesh economic report

The broader coverage indicates that the regulator is seeking to establish a common standard for individuals working across the capital market ecosystem, market operators said.

A DSE official, requesting anonymity, said the officials concerned and their dependents — sons, daughters, fathers and mothers — were previously not even allowed to open beneficiary owner's (BO) accounts.

Under the latest directive, however, they will be allowed to open BO accounts solely for investing in non-convertible bonds, government securities, open-ended mutual funds, ETFs and REIT funds.

The exemption of diversified investment vehicles reflects an attempt to strike a balance between preserving personal investment rights and securing market integrity, said Akramul Alam, head of research at Royal Capital.

The inclusion of BSEC officials means that the regulator itself is also subject to the investment restrictions.

"Even when there is no actual misuse of information, the public perception that an employee can benefit from privileged access to information may undermine confidence," said Mr Alam.

The BSEC's latest order is expected to reduce the scope for potential conflicts between institutional responsibilities and personal trading interests, he added.

Enforcement key to effectiveness

Market participants said the effectiveness of the directive would ultimately depend on proper monitoring and enforcement.

"Restrictions on paper are not enough. The regulator needs an effective monitoring and disclosure mechanism to ensure compliance," said a stockbroker, preferring anonymity.

Effective enforcement would require coordination among the BSEC, stock exchanges, brokerage firms, depository and other relevant market institutions.

The BSEC spokesperson said the commission would monitor the investment accounts of the individuals concerned and ensure that prohibited transactions do not take place.

"If the regulator finds any investment beyond the approved instruments, it will take action in accordance with the securities rules," he said.

The Dhaka Stock Exchange (DSE) edged lower today (9 September) as cautious investors remained on the sidelines amid uncertainty over the market's direction, while concerns over the country's ongoing gas and electricity crisis continued to weigh on sentiment.

The DSEX, the broad index of the DSE, fell 1 point to settle at 5,538. The blue-chip DS30 index shed 5 points to close at 2,103, while the Shariah-based DSES index gained 1 point to settle at 1,111.

Turnover fell nearly 12% to Tk520 crore from Tk590 crore in the previous session, reflecting subdued investor participation. Of the 387 securities traded, 165 advanced, 150 declined and 72 remained unchanged.

Market participants said uncertainty over the economy and corporate operations has kept investors cautious, particularly as ongoing gas and electricity shortages continue to disrupt industrial production. Concerns over the impact of the utility crisis on corporate earnings have discouraged investors from taking fresh positions.

Many investors are instead waiting for clearer signals on the market's direction and upcoming corporate earnings before increasing their exposure, market participants said.

Recent intervention by the stock exchange in large buy and sell orders has also unsettled some major individual investors, they said. Uncertainty over such interventions has prompted some investors to adopt a wait-and-see approach.

Meanwhile, recent inspections and investigations by the stock exchange at several brokerage houses have further weighed on market sentiment, according to market participants.

The DSE Brokers Association of Bangladesh (DBA) has urged the stock exchange to avoid unnecessary harassment of brokerage houses during such exercises and maintain a balanced approach so that inspections and investigations do not disrupt their normal operations.

EBL Securities, in its daily market commentary, said the capital market remained range-bound, with the indices showing largely flat momentum throughout the session. Large-cap stocks remained under pressure amid subdued participation as investors stayed cautious about the market outlook.

The brokerage also said investors were closely watching for fresh positive catalysts that could support a sustained recovery, while uncertainty over the upcoming earnings season continued to weigh on sentiment.

Despite more stocks advancing than declining, weakness in several large-cap stocks kept the benchmark index in negative territory.

On the sectoral front, Textile stocks accounted for the largest share of turnover at 31.2%, followed by General Insurance at 13% and Banking at 11.9%.

Textile stocks posted the highest sectoral gain, rising 2%, followed by Mutual Funds at 1.6% and Jute at 1.1%. On the other hand, Ceramic stocks declined 1.4%, Life Insurance fell 0.7% and Financial Institutions lost 0.3%.

ICB AMCL Sonali Bank Limited 1st Mutual Fund was the top gainer, rising 10%. Sena Insurance gained 9.98%, while Saiham Textile Mills advanced 9.76%.

SK Trims & Industries was among the biggest losers, falling 5.11%. Metro Spinning declined 3.81%, while Golden Son lost 3.73%.

Envoy Textiles led the turnover chart, followed by Sharp Industries and Saiham Textile Mills.

The Chittagong Stock Exchange (CSE) also ended lower on Wednesday. The CASPI index fell 59.1 points to settle at 14,869, while the CSCX declined 42.9 points to close at 9,088. Turnover at the CSE stood at Tk87.27 crore.

Market observers said the DSE may continue to see cautious trading in the near term unless concerns over utility shortages, corporate earnings and market-related regulatory issues begin to ease.

Capital market stakeholders have urged the government to allow listed companies to buy back their own shares and streamline merger and acquisition (M&A) processes through amendments to the Companies Act, 1994.

In a letter to the Ministry of Commerce, the DSE Brokers Association of Bangladesh (DBA), the platform of Dhaka Stock Exchange brokerage houses, called for specific provisions on share buybacks and M&A in the proposed third amendment to the law.

The DBA also urged the government to empower the Bangladesh Securities and Exchange Commission (BSEC) to formulate and enforce rules on the issues to ensure effective regulation and investor protection.

Currently, listed companies have no mechanism to repurchase their shares when prices fall sharply during periods of market volatility. The absence of a comprehensive M&A framework also forces companies to seek court approval, resulting in lengthy delays.

"Every country has laws governing share buybacks, but Bangladesh has none. As a result, many cash-rich companies cannot repurchase their shares even when prices fall. Consequently, there is no market support during a downturn," DBA President Saiful Islam told TBS.

He added that if this law is enacted, companies will be able to buy their own shares, providing crucial support during periods of market volatility.

Under current regulations, sponsors and directors can purchase shares when prices fall, but such purchases increase their personal stakes rather than directly benefiting the company, he said.

"Allowing companies to execute share buybacks would deliver direct value to the firm," Saiful said, adding that the DBA had urged the government to include buyback provisions in the Companies Act.

He also called for a dedicated M&A framework to reduce legal complexities and speed up transactions.

"M&As currently require court approvals, which is a time-consuming process. Having dedicated laws or regulations would enable faster mergers and acquisitions," he said.

DBA seeks greater BSEC oversight

In its letter to Commerce Secretary Md Ataur Rahman Khan, the DBA proposed allowing listed companies to conduct share buybacks, with BSEC empowered to formulate rules and oversee their implementation.

It also called for BSEC to be given authority to regulate mergers and acquisitions involving listed companies to reduce legal complexities and protect investors.

The association said empowering the capital market regulator to formulate and implement rules in these areas would ensure more effective oversight and better protection of investors and other stakeholders.

BSEC also seeks buyback provision

Separately, BSEC has called for allowing listed companies to buy back shares in the proposed amendment to the Companies Act.

The regulator also proposed modernising corporate reporting standards, requiring regulatory approval for mergers involving listed companies and extending the validity of financial statements used in prospectuses.

BSEC Executive Director Abul Kalam made the proposals at a views-exchange meeting on the draft Companies Act amendment at the FBCCI Board Room in the capital on Monday.

He said targeted revisions were needed to align the law with modern business practices, noting that several BSEC recommendations submitted on 18 December 2025 had been omitted from the current draft.

Referring to Section 58 of the existing law, which restricts companies from purchasing their own shares, Kalam urged policymakers to allow listed entities to conduct buybacks under specific conditions to improve capital management and protect shareholder interests.

On mergers, acquisitions, demergers and restructuring under Sections 228 and 229, he proposed requiring BSEC involvement when a listed company merges with an unlisted entity to protect general investors, citing similar regulatory arrangements in India.

The country's premier bourse returned to negative territory today (8 September), erasing early intraday gains as subdued investor confidence and macroeconomic headwinds prompted a wave of profit-taking.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) dropped by 28 points, or 0.50%, to settle the session at 5,539.

The day's trading was characterised by significant volatility. The market opened on a positive note, carrying forward the bargain-hunting momentum from the previous day's late-session rally, which pushed the benchmark index to an intraday high of 5,628.63 points.

However, the optimism was short-lived. As the session progressed, selling pressure intensified, dragging the index to an intraday low of 5,536.98 points before it closed near that level.

According to market analysts at EBL Securities, the capital market failed to sustain the previous day's buying spree as broad-based sell-offs resumed. Subdued investor confidence, fuelled by persistent concerns over the national energy crisis and uncertainty ahead of the corporate earnings season, outweighed optimism over potential regulatory support.

Despite the high trading volume, the textile sector fell 1.7%, while ceramics and general insurance also ended lower. Services and real estate was the lone gainer, edging up 0.4%.

Sheltech Brokerage Limited said the fragile sentiment led to heavy distribution in the late session, reflecting a preference among investors to lock in whatever gains remained.

Market participation remained relatively low, although turnover on the DSE rose marginally by 3% to Tk590 crore from the previous session. Market breadth turned sharply bearish, with 252 issues declining, 83 advancing and 61 remaining unchanged.

The textile sector dominated turnover, accounting for 30.3% of total trading, followed by general insurance at 13.5% and pharmaceuticals at 9.2%.

Despite leading turnover, the textile sector fell 1.7%. Ceramics and general insurance also ended lower, while services and real estate was the lone sector to gain, edging up 0.4%.

Individual stock performance was highlighted by Envoy Textile, Malek Spinning, and Sharp Industries, which were among the most traded stocks of the day.

In the gainers' list, Sunlife Insurance topped the chart with a 6.32% rise, followed by Atlas Bangladesh, GQ Ball Pen, and Envoy Textile.

Conversely, Saiham Textile emerged as the top loser, shedding 9.74% of its value, followed closely by Prime Textile, Reliance One Mutual Fund, and Malek Spinning.

The bearish sentiment was not entirely mirrored at the Chittagong Stock Exchange (CSE), where the key indices managed to eke out marginal gains.

The Selective Categories' Index (CSCX) inched up to 9,131 points, while the All Share Price Index (CASPI) rose by 8 points to settle at 14,927. Turnover at the port city bourse saw an 8% surge, reaching Tk20 crore.

The Chittagong Stock Exchange (CSE) is pushing to diversify Bangladesh's capital market by introducing a commodity exchange, aiming to expand investment opportunities and bring the country's financial market closer to international standards.

Md Saifur Rahman Mazumdar, managing director of the CSE, said the initiative would also challenge the conventional perception that the capital market is limited to share trading.

He made the remarks at a workshop titled "Diversification of the Capital Market: Prospects of Commodity Exchange in Bangladesh", organised by the Chattogram Television Reporters Network at the CSE conference room today (8 September).

Saifur said incorporating a commodity market into the capital market would diversify the financial system and create new investment avenues.

Speakers said a commodity exchange could help businesses manage risks from price fluctuations while providing a more transparent mechanism for price discovery.

An organised and properly regulated market would allow buyers and sellers to determine commodity prices through formal trading rather than relying solely on fragmented physical markets, they said.

Bangladesh's capital market is currently centred largely on equities and related securities. A commodity exchange would introduce organised trading in commodities and potentially provide instruments to hedge against price risks.

The speakers, however, stressed that the market would require appropriate regulations, trading infrastructure, warehousing and quality standards, along with safeguards against manipulation.

The CSE has been working on developing a commodity exchange for several years as part of efforts to broaden the country's capital market.

For Bangladesh, where businesses are often exposed to sharp fluctuations in imported raw material and commodity prices, such a platform could provide an additional tool for managing commercial risks.

The success of the initiative will depend on establishing the regulatory, technological and physical infrastructure needed to ensure transparent and credible commodity trading.

Former CSE president Mirza Salman Ispahani attended the workshop as chief guest, while CSE Director Major Md Emdadul Islam was present as special guest.

The Dhaka Stock Exchange (DSE) is set to introduce a web-based platform to automate and integrate the creation and redemption of open-end mutual fund units, aiming to make mutual fund investments more accessible and transparent for investors.

The proposed system was unveiled at a workshop hosted by the DSE on Monday. The platform will be accessible through both desktop and mobile applications, allowing investors across Bangladesh to participate more conveniently in open-end mutual fund transactions.

Under the proposed framework, stockbrokers will act as selling or dealing agents for asset managers, assisting investors in purchasing and redeeming fund units. All sales and redemptions will be executed at prices determined by the respective asset managers, in compliance with the Bangladesh Securities and Exchange Commission (Mutual Fund) Rules, 2025.

BSEC Commissioner Nafeez Al Tarik, who attended the workshop as chief guest, praised the DSE initiative, saying the platform would play an important role in developing the mutual fund industry and delivering greater benefits to investors.

DSE Managing Director Nuzhat Anwar said the initiative is part of the exchange's broader efforts to modernise capital market infrastructure and encourage portfolio diversification.

"Developing this platform marks a major step toward making mutual fund investments simpler, more convenient, transparent and technology-driven," she said.

DSE General Manager (Market Development) Saied Mahmud Zubayer gave a detailed presentation on the proposed system and its operational framework at the workshop.

The proposed platform is expected to bring the buying and redemption process for open-end mutual fund units into a more integrated digital environment, potentially reducing operational complexities for investors, brokers and asset managers.

The Dhaka Stock Exchange (DSE) Brokers Association (DBA) has urged the stock exchange to avoid what it called "unnecessary harassment" of brokerage houses, particularly in cases where inspections or investigations could disrupt their normal business operations.

The association made the request at a meeting with the DSE today (8 September), where members of the DSE board were present. The meeting discussed recent inspections of brokerage houses and their potential impact on the capital market.

Market participants said nearly 100 brokerage firms have come under investigation over the past one and a half years. Of these, around 8 to 10 brokerage firms were reportedly inspected or investigated last week.

DBA President Saiful Islam told TBS that the association does not oppose investigations by the Bangladesh Securities and Exchange Commission (BSEC) or the stock exchange.

"We do not want unnecessary harassment of brokerage houses. The aggressive approach taken by the stock exchange in investigating brokerage houses has had a negative impact on the market, which is not desirable," he said.

He said routine investigations were necessary and that appropriate action should be taken if any brokerage house was found to have committed irregularities.

"Routine investigations can take place. If any brokerage house has committed an irregularity, it should be appropriately punished. But it should not be done in a way that creates a negative impact on the market," he said.

Saiful said several brokerage houses have recently faced investigations, and the way these incidents have come into the public domain has negatively affected both the concerned firms and the broader capital market.

"Investigations should be conducted in a tolerable manner so that there is no disruption to business activities. We should not feel stressed, and there should be no damage to the market," he said.

DSE's position

Responding to concerns over excessive intervention in brokerage houses, the DSE chairman said the exchange's board does not interfere in the day-to-day activities of its Regulatory Affairs Department. Instead, the board provides policy-level guidance.

He said the DSE would investigate or conduct inquiries into specific matters when there is information indicating particular irregularities.

The DSE chairman also urged member firms to resolve any shortages in their CC accounts, shares or other assets on their own initiative and without delay.

Such shortages not only affect the operations of the concerned firms but also damage the reputation of the capital market's overall ecosystem, he said.

"To make the market more disciplined, transparent and aligned with international standards, all stakeholders must properly perform their respective responsibilities. Through collective efforts, it is possible to take Bangladesh's capital market to a new height within the next five years," he said.

He also called on member firms to share their problems, concerns, recommendations and new ideas with the DSE, saying the exchange wants to make its market-development initiatives and future activities more effective based on the practical experiences and views of its members.

Why recent inspections were conducted

The DSE said some compliance and surveillance inspections from 2025 remained unresolved and needed to be completed through the submission of reports to the BSEC.

The recent inspections of brokerage houses were conducted as part of the process of completing those outstanding inspections, it said.

Participants at the meeting also stressed the need for clear and specific criteria for determining abnormal trading.

They said high trading volumes in a particular period should not, by itself, be considered an irregularity. Instead, assessments should take into account the nature of the transactions, their impact on share prices, the investor's financial capacity and the instructions given for the trades.

Saiful Islam said the concerns of brokerage houses were discussed in the presence of the DSE board, which he said agreed with the points raised by the DBA.

He added that the DSE managing director assured the association that such problems would not recur in the future.

Bangladesh's benchmark DSEX index could reach the 10,000-point mark by the end of 2027 as the economy moves from stabilisation to recovery and eventually acceleration, according to Capital Alliance (CAL), a frontier-markets-focused investment bank.

In its recent published Bangladesh Macro Outlook 2026-30 report, titled "Shifting Gears," CAL projects around 70% upside in the benchmark index from its late-July 2026 level of 5,896 points. The forecast is based on a combination of stronger corporate earnings, improving macroeconomic stability, monetary easing and a potential re-rating of the stock market.

CAL Bangladesh, a part of the CAL Group incorporated in the UAE with roots in Sri Lanka, previously received a Trading Rights Entitlement Certificate (TREC) from the Dhaka Stock Exchange to conduct stock-market operations under the brokerage firm named ACL Securities Limited.

The report, which tracks more than 450 macroeconomic and market indicators, argues that Bangladesh does not need an economic miracle to achieve the target. Rather, a return to historical growth patterns, combined with improving investor confidence, could drive the market higher.

Despite the bullish outlook, CAL has identified several risks. Global energy shocks could keep inflation elevated and delay interest-rate cuts, while unresolved banking-sector capital problems could limit the financial system's ability to fund economic expansion.

Domestic energy shortages could also prevent industries from fully utilising their existing capacity.

Earnings growth and valuation re-rating

CAL expects corporate earnings to rebound by 26% year-on-year, supported by higher revenues as real incomes recover, improved operating margins as companies utilise spare capacity, and lower finance costs as interest rates decline.

The investment bank also expects the market's price-to-earnings (P/E) multiple to rise from around 10.4 times currently to 14 times by end-2027.

According to CAL, the combination of higher earnings and a higher valuation multiple could provide the main fuel for DSEX to reach 10,000 points.

The report identifies three key drivers behind the expected acceleration: demographic expansion, productivity gains and monetary easing.

Bangladesh is adding around 11.5 lakh workers annually, with the working-age population growing by about 1.5% a year. CAL predicts that by 2030, the number of households in the middle-income category – defined here as those earning more than $325 per month – will rise by 28%, reaching 1.5 crore households.

This expanding consumer base is expected to support demand for consumer goods and services.

At the same time, Bangladesh has significant unused industrial capacity. Companies invested heavily in FY23, but production remained constrained by energy shortages and high borrowing costs. As these pressures ease, companies could increase output without immediately undertaking substantial new capital expenditure, improving profitability through operating leverage, according the report.

Monetary policy is another key factor. Bangladesh Bank delivered its first policy-rate cut in six years in mid-2026, and CAL expects the easing cycle to continue.

The 364-day Treasury bill rate, which has remained above 12%, is projected to fall to 7.7%-8.5% by June 2027, according to the report. Lower borrowing costs are expected to support private-sector credit and investment.

Macro stability and consumer boom

CAL believes Bangladesh has largely moved beyond the correction phase of 2023-25. Money growth has been restrained, while inflation has fallen more than three percentage points from its peak.

The country's balance of payments has also returned to surplus and the foreign exchange market has stabilised, creating a more favourable backdrop for investment.

CAL expects the taka to remain relatively stable against the US dollar, reaching Tk125-Tk127 per dollar by June 2027, implying depreciation of only 1.5%-3.2%.

A more stable currency could also encourage foreign portfolio investors to return to Bangladesh's capital market after staying on the sidelines amid currency volatility and the previous floor-price regime, the report added.

The report also projects Bangladesh to become the world's ninth-largest consumer market by 2030, surpassing economies such as Germany and the UK. Per-capita GDP is expected to reach $4,000, supporting a shift from unbranded goods towards trusted and premium brands.

CAL said much of the infrastructure needed to support this consumption-led expansion is already in place or nearing completion. Electricity-generation capacity, for example, is expected to rise from 12.4GW to 28GW, while major infrastructure projects such as Dhaka Metro Rail and the third terminal of Hazrat Shahjalal International Airport are supporting economic activity.

CAL nevertheless maintains its "Accumulate Stocks" recommendation, arguing that these risks are more likely to affect the timing of the recovery than its overall direction.

The report concludes that investors who position themselves before the recovery becomes fully visible could benefit from the market's next phase of growth.

Bangladesh Bank has appointed an administrator and two associate administrators to oversee the resolution process of listed non-bank financial institution Fareast Finance and Investment Limited, amid efforts to ensure its smooth and effective implementation.

The central bank appointed its Director Md Sadequr Rahman as administrator, supported by Additional Directors Shadril Ahmed and Md Al-Amin as associate administrators, according to a disclosure published today (8 September).

All three officials formally assumed their respective roles on 9 August, the disclosure said.

The appointment follows Bangladesh Bank's decision to declare Fareast Finance alongside three other non-bank financial institutions (NBFIs) as non-viable under the Bank Resolution Act, 2026.

Following Bangladesh Bank's non-viable declaration and administrator appointments, both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) suspended trading of Fareast Finance shares. Fareast Finance and Investment got listed on the stock exchange in 2013.

Its current paid-up capital Tk164 crore divided by 16.40 crore shares. Market capitalisation of the NBFI stood at Tk34.46 crore until 8 September with Tk18.91 crore free-float capitalisation of the company.

Until September 2025, the company had incurred a loss of Tk61 crore, compared with a loss of Tk84.18 crore in 2024.

According to DSE data, sponsor-directors held a 39.74% stake in the listed firm, while institutional investors held 14.77% and general investors held the remaining 45.49%.

দেশের তরুণ প্রজন্মের মধ্যে পুঁজিবাজার, বিনিয়োগ ও আর্থিক বিষয়ে সচেতনতা বাড়াতে লংকাবাংলা সিকিউরিটিজ পিএলসি ও এক্সিলেন্স বাংলাদেশের মধ্যে সমঝোতা স্মারক স্বাক্ষরিত হয়েছে।

গত ৫ সেপ্টেম্বর ২০২৬, শনিবার রাজধানীর বনানীতে লংকাবাংলা সিকিউরিটিজের কার্যালয়ে আয়োজিত এক অনুষ্ঠানে দুই প্রতিষ্ঠানের প্রতিনিধিরা আনুষ্ঠানিকভাবে এই সমঝোতায় স্বাক্ষর করেন। অনুষ্ঠানে উভয় প্রতিষ্ঠানের জ্যেষ্ঠ ব্যবস্থাপনা পর্যায়ের কর্মকর্তা ও সংশ্লিষ্ট ঊর্ধ্বতন কর্মকর্তারা উপস্থিত ছিলেন।

সমঝোতার আওতায় দেশের বিভিন্ন বিশ্ববিদ্যালয়ের শিক্ষার্থীদের জন্য পুঁজিবাজার ও বিনিয়োগ বিষয়ে সচেতনতামূলক কার্যক্রম পরিচালনা করা হবে। পাশাপাশি শিক্ষামূলক আলোচনা, সেমিনার, শিক্ষার্থী প্রতিযোগিতা, ক্যাম্পাস প্রতিনিধি কার্যক্রম এবং ডিজিটাল প্রচারণার মতো বিভিন্ন উদ্যোগ নেওয়া হবে।

এই অংশীদারিত্বের মাধ্যমে ২০৩০ সালের মধ্যে দেশের ১০ লাখ শিক্ষার্থীর কাছে পুঁজিবাজার ও বিনিয়োগ সম্পর্কে প্রাথমিক ও প্রয়োজনীয় জ্ঞান পৌঁছে দেওয়ার লক্ষ্য নির্ধারণ করা হয়েছে। তরুণদের মধ্যে সঠিক আর্থিক জ্ঞান তৈরি এবং দায়িত্বশীল বিনিয়োগের সংস্কৃতি গড়ে তুলতে এ উদ্যোগ গুরুত্বপূর্ণ ভূমিকা রাখবে বলে আশা প্রকাশ করা হয়েছে।

অনুষ্ঠানে লংকাবাংলা সিকিউরিটিজ পিএলসির ব্যবস্থাপনা পরিচালক মোহাম্মদ নাসির উদ্দিন চৌধুরী এবং এক্সিলেন্স বাংলাদেশের প্রতিষ্ঠাতা ও প্রধান নির্বাহী কর্মকর্তা বেনজির আবরারসহ দুই প্রতিষ্ঠানের জ্যেষ্ঠ কর্মকর্তারা উপস্থিত ছিলেন।
দুই প্রতিষ্ঠানের পক্ষ থেকে বলা হয়েছে, এই সমঝোতার মাধ্যমে দেশের বিশ্ববিদ্যালয়, তরুণ প্রজন্ম ও পুঁজিবাজারের মধ্যে একটি কার্যকর এবং টেকসই সংযোগ গড়ে তোলার সুযোগ তৈরি হবে। একই সঙ্গে শিক্ষার্থীরা ভবিষ্যতে আর্থিক সিদ্ধান্ত নেওয়ার ক্ষেত্রে আরও সচেতন ও দক্ষ হয়ে উঠবেন বলে প্রত্যাশা করা হচ্ছে।

The country's premier bourse, the Dhaka Stock Exchange (DSE), witnessed a classic "V-shaped" recovery today (7 September), with the benchmark index staging a remarkable 95-point turnaround in the final hour of the trading session.

After a harrowing mid-session slump that saw the DSEX plunge below the psychological 5,500-point threshold, a surge of institutional buying interest helped the market erase its massive losses and settle on a positive note, according to the market insider.

The trading day began with significant volatility, and by 12:30pm, the DSEX had plummeted by 67 points, hitting an intraday low that triggered panic among retail participants. However, the momentum shifted abruptly in the afternoon. Between 12:30pm and 1:58pm, the broad index climbed sharply, recovering all lost ground and adding enough momentum to close at 5,567 points, up 8 points from the previous session.

Market insiders observed that the final-hour boost was primarily orchestrated by institutional investors and high-net-worth individuals. These "bargain hunters" identified the mid-session crash as an attractive entry point, moving in to accumulate fundamentally strong shares at multi-month lows. This professional intervention provided a much-needed lifeline to the market's faltering momentum.

According to the daily market review by EBL Securities, the capital bourse finally found its footing after a prolonged downturn. The session was defined by a fierce tug-of-war between sellers and buyers. While intensified selling pressure dominated the first half of the day, the late-session buying spree in heavyweight scrips allowed the benchmark index to reverse its nearly 70-point intraday loss.

On the sectoral front, the textile sector emerged as the primary driver of liquidity, accounting for a massive 29.8% of the total turnover. It was followed by general insurance at 12.8% and the pharmaceutical sector at 12.0%. Sectoral returns were mixed, with textiles gaining 2.7% and the travel sector rising by 1.9%. On the flip side, the cement sector faced a correction of 1.1%, while the telecommunication segment also ended marginally lower.

The market breadth reflected the late-hour recovery, with 170 issues advancing compared to 150 that declined, while 63 remained unchanged.

Total turnover on the DSE saw a 5% uptick, reaching Tk571 crore.

Major index pullers that supported the rebound included Pubali Bank, Dominage Steel, Southeast Bank, Envoy Textile, and Malek Spinning.

Individual stock performance was highlighted by Tung Hai Knitting, which hit the 10% upper circuit limit. Other top gainers included Saiham Cotton, Premier Leasing, and Sea Pearl Beach Resort.

Conversely, Sena Insurance was the day's top loser, shedding 9.97% of its value, followed by CAPM IBBL Mutual Fund and Prime Textile. On the liquidity front, Sharp Industries, Saiham Cotton, and Envoy Textile were among the most traded stocks of the day.

While the premier bourse ended in the green, the sentiment remained slightly dampened at the Chittagong Stock Exchange (CSE), where the broad CASPI index dropped 82 points to settle at 14,919. Turnover at the port city bourse stood at Tk18.84 crore.

The initial public offering (IPO) drought is showing no sign of easing. More than two years after the last approval, the Bangladesh Securities and Exchange Commission (BSEC) has yet to greenlight a new share offering, despite various initiatives to revive the capital market.

The commission last approved an IPO in March 2024 for Techno Drugs.

Even now, six months after the new government took office and three months into the new BSEC commission's tenure, no company has formally applied to raise funds through an IPO.

This renders the prospect of a new company listing on the stock exchange in the near future increasingly unlikely.

Market stakeholders had anticipated fresh IPO filings with the start of the new fiscal year, as companies seeking capital must submit audited financial statements covering the preceding 180 days.

The prolonged drought has effectively blocked a key avenue for businesses to raise long-term expansion capital, forcing growing reliance on bank loans and internal revenues.

More importantly, there are currently no IPO applications or proposals awaiting approval at the BSEC, according to officials familiar with the matter.

This signals that the issue extends beyond regulatory delays. The deeper concern is that potential issuers are failing to progress from initial interest to formal applications.

Interest exists, but applications do not

Market stakeholders note that while several well-established, financially sound companies wish to raise long-term capital through the stock market, this interest has yet to yield formal applications.

Speaking on condition of anonymity, several merchant bankers told The Business Standard they are preparing several candidate firms for IPOs; however, many are waiting for regulatory clarity before submitting paperwork.

Prominent groups including BRB, DBL, City, and Confidence have surfaced in market discussions as prospective issuers.

This has created a paradoxical impasse: corporate interest exists and merchant bankers are preparing deals, yet no formal filings are reaching the regulator.

New government, new commission, new rules

The new government took office on 17 February, while the new BSEC commission assumed charge on 4 June.

Since assuming charge, the current commission has placed a strong emphasis on attracting large, high-quality issuers to the capital market. BSEC Chairman Masud Khan noted recently that Bangladesh boasts numerous well-established domestic and multinational corporations whose listings could significantly strengthen the market.

He further said the regulator aims to bring several prominent flagship companies to the exchange over the next six to twelve months, hinting that legal mandates could be considered if voluntary listings stall.

However, BSEC spokesperson Abul Kalam told TBS that the commission has not asked any company to refrain from applying for an IPO because of its initiatives to reform the regulatory framework.

"No IPO application will proceed unless an issue manager or company formally submits one," Kalam noted, adding that direct listing rules are now active alongside ongoing efforts to simplify the overall IPO framework.

Nearly Tk1,000 crore worth of proposals withdrawn

According to market sources, around 18 public offering proposals, including IPO applications, have been cancelled or withdrawn at various stages since March 2024.

These proposals could have raised around Tk1,000 crore from the capital market.

The contraction in the primary market is also evident from annual fundraising figures. In 2024, four companies raised Tk645 crore through IPOs. In 2023, four companies raised around Tk202 crore.

Earlier, six companies raised Tk626.26 crore in 2022, while 15 companies raised Tk1,858.44 crore in 2021.

Why are companies staying away?

Market stakeholders point to several factors driving the prolonged IPO drought. Valuation remains a primary concern, as entrepreneurs fear diluting ownership at unfavourable prices.

Regulatory uncertainty further fuels caution, with frequent changes to the IPO framework leaving prospective issuers hesitant to submit filings.

Additionally, companies are wary of post-listing compliance burdens, including stringent requirements for financial reporting, auditing, corporate governance, and independent director appointments.

Business owners are also seeking greater flexibility in how IPO proceeds are utilised – specifically for expanding operations and retiring expensive bank debt.

The problem is now the pipeline

The IPO problem has shifted from approval to pipeline. There are currently no IPO applications awaiting approval at the BSEC.

Although Bangladesh has 66 licensed merchant bankers engaging with prospective issuers, many firms are holding off until a more stable and predictable regulatory landscape takes shape.

To address this, the capital market reform task force has recommended streamlining the IPO process, lowering regulatory fees, reducing compliance hurdles, and implementing digital filing systems.

The key challenge for the government and BSEC is therefore to create a stable framework that encourages quality companies to move from initial interest to formal IPO applications and rebuild the market's pipeline of new issuers.

The Dhaka Stock Exchange (DSE) has held an awareness and consultative session with market stakeholders on introducing financial derivatives on its exchange-traded platform to deepen the market and diversify investment products.

Top executives from brokerage firms, merchant banks, asset management companies, and market institutions attended the session, where DSE outlined its roadmap—approved by the Bangladesh Securities and Exchange Commission (BSEC)—to launch derivative products by January 2028.

BSEC Commissioner Nafeez Al Tarik said the regulator supports the introduction of derivatives but stressed that robust infrastructure, strong risk-management systems and an operational central counterparty (CCP) through Central Counterparty Bangladesh Limited (CCBL) are essential prerequisites.

"Derivatives offer crucial hedging and risk management tools against liquidity and volatility risks. However, without proper readiness, they can introduce systemic exposure," Tarik said, stressing timely regulatory amendments and capacity building for brokers.

BSEC Executive Director Abul Kalam said index derivatives are relatively easier to introduce via cash settlement, provided real-time margining, mark-to-market mechanisms, and updated Exchange Derivatives Rules are established.

DSE Managing Director Nuzhat Anwar acknowledged BSEC's guidance and reiterated plans for phased stakeholder workshops.

Saied Mahmud Zubayer, GM of DSE's Market Development Division, presented the product roadmap: launching stock index futures in the first phase, followed by single stock deliverable futures, and eventually an options market in the long term.

The Bangladesh Securities and Exchange Commission (BSEC) has called for a share buyback provision for listed companies in the proposed draft amendment to the Companies Act, 1994.

The capital market regulator also urged modernising corporate reporting standards, mandating regulatory consent for mergers involving listed firms, and extending the validity period of financial statements used in prospectuses.

BSEC Executive Director Abul Kalam placed the proposals at a views-exchange meeting on the draft amendment to the Companies Act at the FBCCI Board Room in the capital today (7 September).

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised it, with its Administrator Fazlul Hoque in the chair. Commerce Minister Khandakar Abdul Muktadir attended the event as the chief guest.

Representing BSEC, Kalam stated that targeted revisions across various sections are essential to align the law with modern business practices. He noted that despite submitting specific recommendations on 18 December 2025, key proposals – such as share buybacks – were omitted from the current draft.

Highlighting Section 58 of the existing act, which restricts companies from purchasing their own shares, Kalam urged policymakers to allow listed entities to buy back shares under specific conditions to improve capital management and safeguard shareholder interests.

Addressing Section 183, he emphasised updating statutory terminology – replacing "balance sheet" with "annual financial statements" and "board report" with "annual report" – while enabling digital publication and distribution of corporate reports.

Regarding mergers, acquisitions, demergers, and restructuring under Sections 228 and 229, Kalam advocated for formal BSEC involvement whenever a listed company merges with an unlisted entity to protect general investors, citing similar regulatory frameworks in India.

Furthermore, the BSEC representative proposed extending the time limit for using financial statements in prospectuses from 180 days to 270 days. Under current rules, financial data older than 180 days cannot be included in a prospectus for IPOs, rights shares, or bonds. However, Kalam explained that since the audit process alone can take up to 120 days, the remaining 60-day window is often insufficient to complete the approval and filing processes at the Registrar of Joint Stock Companies and Firms.

Shares of Sharp Industries PLC have plunged 56% in 16 trading sessions on the Dhaka Stock Exchange (DSE), following a sharp rally that prompted the Bangladesh Securities and Exchange Commission (BSEC) to order an investigation into the company's abnormal share price movement and trading activities.

According to DSE data, the share price fell from Tk44.10 on 12 August to Tk19.50 today(6 September), losing Tk24.60, or nearly 56%, in 16 trading sessions.

The decline came after the stock had more than doubled in value in less than two months. On 15 June, the share was trading at around Tk17. It subsequently surged to Tk44.10 on 12 August, gaining Tk27.10, or around 156%, in nearly eight weeks.

Following the unusual rise in the share price and trading volume, the BSEC instructed the DSE to investigate the company's trading activities. Earlier, the DSE had sought an explanation from Sharp Industries regarding the abnormal movement.

The company informed the DSE that it had no undisclosed price-sensitive information that could explain the unusual movement in its share price.

The DSE investigation is expected to examine the trading pattern of the company's shares and determine whether there was any market manipulation, unusual or coordinated trading, misuse of inside information or violation of securities laws and regulations.

The sharp fall has now erased a significant portion of the gains recorded during the stock's rapid rally. The share price is currently more than 55% below its 12 August peak.

The unusual price movement has come at a time when the textile spinning company is facing significant operational challenges, particularly shortages of electricity.

Power shortages have reduced the company's production by around 40%, according to company information. Sharp Industries has production capacity of around 70 tonnes of yarn per day, but its current output has fallen to about 42 tonnes.

The company operates around 1,20,000 spindles. The production disruption has also put pressure on its financial performance.

During the first nine months of fiscal year 2025-26, the company reported revenue of around Tk257 crore but incurred a net loss of Tk65 crore. Its loss per share stood at Tk2.16, while net asset value per share was Tk7.92 as of March 2026.

In the January-March quarter, the company generated around Tk56 crore in revenue and incurred a loss of approximately Tk21 crore. Its accumulated losses stood at around Tk78 crore at the end of March.

Despite the financial pressure, the company sees several factors that could support its business recovery.

According to the company, it has confirmed orders for six months, while yarn prices have increased. Higher export incentives and reduced pressure from India's anti-dumping measures are also expected to support the business.

The company expects that an improvement in electricity supply would allow it to increase production, utilise more of its existing capacity and fulfil its confirmed orders. It also sees an opportunity to secure additional orders as production disruptions at competing factories constrain market supply.

Shares of Aamra Networks Limited plummeted by 10.60% today (6 September), hitting a multi-year low after the company recommended a nominal 1-paisa dividend for its general shareholders for the fiscal year ended 30 June 2025.

The sharp decline in the stock price followed the removal of standard price limits (circuit breakers) for the session, a typical regulatory procedure following a corporate dividend declaration.
According to a price-sensitive statement filed with the Dhaka Stock Exchange (DSE), the company's board recommended a 0.10% cash dividend, equivalent to Tk0.01 or 1 paisa per share. The payout is exclusively for general shareholders, while sponsors and directors, who collectively hold 3.07 crore shares, will receive no dividend. The total payout to public shareholders' amounts to just Tk6.22 lakh.

The announcement triggered heavy selling, sending the share price down to Tk17.70 from its previous close.
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The investor backlash comes on the heels of a disastrous financial report. For FY25, Aamra Networks reported an earnings per share (EPS) of just Tk0.13, a massive drop from the Tk2.46 recorded in the previous fiscal year.

The company's liquidity position has also turned critical. Its net operating cash flow per share (NOCFPS) swung to a negative Tk0.69 from a positive Tk2.72 a year earlier, while its net asset value (NAV) per share edged down to Tk36.14.

Management attributed the collapse in profitability to a combination of falling sales and rising operating costs. However, a senior official at Aamra Networks, speaking on condition of anonymity, revealed a deeper systemic crisis.

"The company is grappling with an acute fund shortage primarily because our corporate clients have failed to clear significant dues for services rendered. This has essentially crippled our cash flow and operational flexibility," the official said.

Aamra Networks has been struggling to regain its market standing since being downgraded to the 'Z' or junk category in February 2025 after failing to disburse an approved 10% dividend for FY24

The company also faces further administrative hurdles. As it failed to hold its Annual General Meeting (AGM) within the legally mandated timeframe, it must now seek High Court permission to convene the meeting and finalise the 1-paisa dividend.

The record date for the dividend has been set for 24 September 2026.

A severe wave of panic selling gripped the Dhaka Stock Exchange (DSE) yesterday, dragging all indices sharply into the red, with 89% of stocks declining and market capitalisation falling by Tk6,781 crore.

Intensifying risk-averse sentiment and aggressive sell-offs by both institutional and individual investors pushed DSEX, the broad market index, down by over 103 points to close at 5,558, according to bourse data.

Market participants attributed the sharp fall to the ongoing countrywide utility crisis, particularly involving gas and electricity, which has severely dampened investor confidence and driven investors to the sidelines to protect their portfolios from further erosion.

They also pointed to unexpected intervention by the stock exchange regarding large buy and sell orders, which has unsettled major individual investors, prompting many to stay on the sidelines out of caution.

According to DSE data, this is the first single-day fall of over 100 points in DSEX since the new commission assumed office in June.

On 5 April, DSEX had lost 107 points; since then, the index has seen volatility, but declines had not exceeded 100 points until yesterday. Two and a half months earlier, DSEX had stood at 5,554 points on 22 June, according to data.

Following that, the benchmark index gradually climbed to the 5,900 mark as investor participation rose slightly on hopes surrounding the new chairman and commissioners assuming office at the regulatory body.

However, since 11 August, DSEX has lost 345 points, while market capitalisation has plunged by Tk17,065 crore as market sentiment and investor participation deteriorated due to the issue of changing in margin rules and other factors.

Saiful Islam, president of the DSE Brokers Association of Bangladesh, told TBS, "Overall investor confidence remains shaky due to the worsening energy crisis, with no immediate solutions in sight."

He added, "We have received allegations regarding stock exchange interference in large buy and sell orders. We have taken this seriously, discussed the matter with regulators, and are trying to resolve the issue."

He said due to the alleged market interference, some large investors may have moved to the sidelines. "We are talking with regulators to solve the issue," he stated.

When asked about the nosedive in indices and turnover, Abul Kalam, spokesperson for the Bangladesh Securities and Exchange Commission (BSEC), said the current regulator does not interfere in the market, noting that the market experiences ups and downs driven by the forces of demand and supply.

"We did not detect any suspicious trading in our surveillance regarding the decline in the market. It is normal trading," he said.

89% stocks price down

As per data of the DSE, an 89% stock price declined as massive sell-offs gripped the market since the beginning of the trading sessions yesterday.

Of the traded 389 stocks, 348 stocks prices declined, while 20 advanced and 21 remained unchanged. Of the advanced stocks, mutual funds dominated the gainer chart.

Trading session started on a positive note but did not sustain after two minutes as heavy sell-offs dumped rapidly with panic selling accelerating between 12pm and 2pm yesterday as stop-loss triggers and margin pressures forced investors to offload holdings.

Analysts attribute this sharp pullback to persistent macroeconomic uncertainty, institutional profit-taking, and a lack of fresh triggers to rebuild investor confidence in the short term.

EBL Securities in its daily market commentary said, the capital bourse suffered the brunt of intense selling pressure in the opening session of the week, dragging the benchmark index down by more than 100 points to a two and a half month low, as the market pulse swiftly shifted to a bearish tone amid prolonged uncertainties over a nationwide gas and electricity crisis, along with apprehensions over a sharp downturn in corporate earnings.

"From the outset of the session, the broad index remained on a downward trajectory as sector-wide sell-offs swept across the trading board, reflecting widespread risk aversion among investors. The relentless selling spree intensified in the latter half of the session, triggering broad-based erosion across equities and further weighing on investors' already battered portfolios, it said.

On the sectoral front, Textiles sector accounted for the highest share of turnover by 28.8%, followed by General Insurance 14.2% and Pharma 11.2%.

All the sectors posted negative returns, where General Insurance, Textile and Paper exhibited the most corrections on the bourse.

The port city bourse, CSE, also ended in negative terrain. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) lost 88.1 points and 171.0 points, respectively.

After the IPO market has remained dry for a long time, the securities regulator is optimistic that new primary issues will be floated in the next few months.

Many of the aspiring issuers have already signed agreements with issue managers and are working to prepare financial statements. They include BRB Cables, Solar Equity Venture, Confidence Infrastructure, Super Star Electrical Accessories, and Shoeniverse Footwear.

The companies are yet to fix the amounts to be raised through IPOs or debt securities.

Apart from them, City Group has also signed an agreement with LankaBangla Investments to raise around Tk 15 billion from the capital market. The conglomerate is looking to raise funds through IPO, private equity, preference shares, corporate bonds, Sukuk and/or other permissible capital market vehicles.

"We hope a good number of companies will be listed in the next few months," said Masud Khan, chairman of the Bangladesh Securities and Exchange Commission (BSEC).

Apart from easing the public issue rules, the regulator is set to introduce a hybrid mechanism allowing direct listing and IPO for the same companies.

Talking to the FE, several issue managers said companies were approaching them to learn about the process of going public.

Among the issue managers, ICB Capital Management has signed an agreement with two companies, including BRB Cables, and is in talks with another five companies interested in issuing primary shares.

"The [market] scenario will change following the listing of some good companies," said Mazeda Khatun, managing director of ICB Capital.

Asked about the trend, a senior official of the Dhaka Stock Exchange (DSE) said many companies had already visited the bourse to discuss listing.

Sources at the DSE said seven companies intend to float IPOs, while another eight have shown interest in raising funds through bonds.

"Some of them have also shared bitter experiences with the previous long-standing process of getting clearance from the regulator to float shares," said an official who preferred not to be named.

The Public Issue Rules 2025 reduced the period for approving or rejecting an IPO proposal to within 55 days.

The factors prompting issuer companies to go public include the pressure of bank loan repayment and the reduced scope of receiving fresh loans from banks. That is why highly leveraged companies are moving towards raising funds from the capital market.

Besides the shorter IPO approval period, the scope for fair valuation of shares and further amendments to the public issue rules under consideration have also encouraged many companies to raise capital from the market.

The securities regulator is working on further amendments to the public issue rules.

Asked about this, Iftekhar Alam, chief executive officer of LankaBangla Investments, said that apart from signing an agreement with Shoeniverse Footwear, the firm was in talks with five other companies interested in going public.

Confidence Infrastructure plans to raise Tk 3 billion through an IPO to finance electric vehicle (EV) battery production, business expansion, debt repayment and investments in new sectors, including food.

The company has appointed UCB Investment Limited as issue manager for the proposed IPO.

The country's premier bourse ended a volatile week with marginal gains as a mid-week surge in bargain hunting successfully offset heavy selling pressure seen in the early sessions.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) inched up by 6 points, or 0.11%, to settle the week at 5,662 points.

Despite the fragile recovery, the market witnessed a "tug-of-war" between opportunistic buyers and cautious sellers. The blue-chip DS30 index followed the broad index's lead, gaining 5 points to close at 2,140. However, the DSE SME Index faced a setback, dropping 26 points to settle at 1,046.

Market participation saw a slight improvement, with the daily average turnover rising by 6% to stand at Tk608 crore.

EBL Securities, in its weekly market review, said the market came under heavy selling pressure at the beginning of the week amid concerns that persistent domestic headwinds could hurt corporate earnings. The absence of fresh positive catalysts also pushed the DSEX below the 5,600 mark after around two months.

The market, however, received some respite in the middle of the week as bargain hunters accumulated beaten-down shares following favourable remarks from regulatory authorities regarding long-term structural reforms. The recovery attempt lost momentum in the final session as weak conviction over the market's direction triggered quick profit-taking.

Sheltech Brokerage Limited said market performance was largely shaped by the competing forces of buying interest and selling pressure. Optimism surrounding BSEC Chairman Masud Khan's recently proposed market-development initiatives supported buying, while concerns over the energy-supply crisis kept investors cautious.

The brokerage said renewed buying emerged after the BSEC chairman announced several market-development initiatives, but persistent selling pressure kept the market volatile. Going forward, progress on the proposed reforms, developments in the energy-supply situation, and upcoming earnings and dividend announcements from June-closing companies are likely to influence market direction.

Textile stocks dominated trading, accounting for 33.6% of total turnover, followed by general insurance at 12% and pharmaceuticals at 11.3%.

Sector performance was mixed. General insurance led the gainers with a 2.7% rise, followed by travel and jute, each gaining 1.4%. Services was the biggest loser, declining 2.1%.

Beximco Pharma, Malek Spinning, Paramount Textile, Beacon Pharma and Saiham Cotton were among the major stocks supporting the DSEX during the week.

Saiham Textile, Sharp Industries, Malek Spinning, Saiham Cotton and IPDC Finance recorded the highest average turnover.

Saiham Cotton led weekly gainers, rising 15.9%, followed by Nahee Aluminum at 11.1% and Bangladesh National Insurance at 10.5%. Safko Spinning gained 10.5%, while Nitol Insurance advanced 9.6%.

On the other hand, Sharp Industries suffered the steepest decline, falling 20.6%. Lovello Ice-cream dropped 15.7%, Apex Spinning declined 13.6%, Reliance Insurance Mutual Fund One fell 11.5%, and Tung Hai Knitting lost 10.6%.

The trustee board of Vanguard AML Rupali Bank Balanced Fund has approved a proposal to voluntarily convert the closed-end mutual fund into an open-end scheme, potentially improving liquidity and providing unitholders with a more flexible exit option.

According to an official disclosure issued by the Investment Corporation of Bangladesh (ICB), the fund's trustee approved the conversion proposal submitted by its asset manager, Vanguard Asset Management Ltd (VAML), in line with the Bangladesh Securities and Exchange Commission (Mutual Fund) Rules, 2025.

The fund will seek unitholders' approval for the proposed conversion at a Special General Meeting (SGM) scheduled for 26 October 2026 at 11:00am at RAOWA Convention Hall in Mohakhali, Dhaka.

Unitholders will vote at the meeting on whether to proceed with the conversion of the closed-end fund into an open-end scheme.

The trustee has set 4 October 2026 as the record date, on which trading of the fund's units on the stock exchanges will be suspended until further notice to determine the list of eligible voters.

The conversion initiative comes at a time when the fund has shown signs of a financial turnaround. After grappling with net losses since 2022, the fund reported a significant recovery in the first half of 2026.

For the January–June period, the earnings per unit (EPU) stood at Tk1.19, a sharp reversal from a loss of Tk0.57 in the same period last year. The recovery was particularly strong in the second quarter (April–June), which contributed Tk0.91 to the EPU.

Despite the earnings rebound, the fund's cash flow remains under pressure, with a negative net operating cash flow per unit of Tk0.68 for the first half of the year.

As of 30 June 2026, the Net Asset Value (NAV) per unit at market price was Tk9.57, while at cost price, it stood at Tk10.72. Listed on the Dhaka Stock Exchange in 2016, failing to declare any dividends since 2024.

Market observers believe the shift to an open-end structure will be a major relief for investors, as closed-end funds in Bangladesh have historically traded at steep discounts to their NAV. In the last trading session on 3 September, the fund's unit price closed 1.25% higher at Tk8.10 on the Dhaka bourse.