Dhaka Stock Exchange restructures DSEX, DS30

Staff Correspondent

15 January, 2019 12:00 AM printer

The country’s prime bourse, Dhaka Stock Exchange (DSE), has decided to include 15 new companies in its broad index, DSEX, and replace three companies in the blue chip index, DS30, as part of its annual and semi-annual rebalancing of the indices.

The DSE reconstituted the indices in line with DSE Bangladesh Index Methodology designed by S&P Dow Jones Indices, a global leader in providing investable and benchmark indices to the financial markets. The methodology is also supervised by a DSE panel.

The restructuring will occur every year, and the DSEX will have 283 companies, after the latest reforms come into effect on January 20, the DSE said in a statement.

The 15 companies, which will be included to the DSEX, are:  Nahee Aluminum Composite Panel, Alif Industries, SK Trims & Industries, VFS Thread Dyeing, Oimex Electrode, Pragati Insurance, Advent Pharma, Intraco Refueling Station, Aman Cotton Fibrous, Silva Pharmaceuticals, Asia Pacific General Insurance, Queen South Textile Mills, M.L. Dyeing, Sonargaon Textiles and United Insurance Company.

On the other hand, 17 existing companies will be excluded from the DSEX for failing to meet regulatory criteria. They are: Agrani Insurance, Aramit Cement, Asia Insurance, Bangladesh General Insurance Company, The Dacca Dyeing and Manufacturing Co, Eastern Insurance, First Finance, Imam Button Industries, Meghna Pet Industries, Mithun Knitting and Dyeing, Monno Jute Stafflers, Premier Cement Mills, Reliance Insurance, Shyampur Sugar Mills, Takaful Islami Insurance, Tallu Spinning Mills and Zeal Bangla Sugar Mills.

Also, the DSE will add three companies to the DS30 index, a list of blue-chip companies, and exclude existing three, after the semi-annual rebalancing of the index, as per criteria set by S&P Dow Jones Indices.

The new three companies, which will be included to the DS30, are: Pubali Bank, BBS Cables and Confidence Cement while existing companies -- Al-Arafah Islami Bank, Heidelberg Cement Bangladesh and Orion Pharma will be excluded from the DS30. This re-balance will also be effective from January 20, 2019