performance evaluation of dhaka stock exchange

7/23/2019 Performance Evaluation of Dhaka Stock Exchange

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1.1 Origin of The Report

This report has been prepared in respect to the four month course of "BUS 498 (ro!ect aper".

ro!ect report is a practica# part of academic studies. This is a ref#ection of academic $no%#edge

through practica# %or$ e&perience. Thus this ro!ect report aims to ref#ect the professiona# 'ie%of rea# %or#d %or$ing en'ironment.

The report on "erformance ppraisa# of )ha$a Stoc$ *&change" is prepared b+ Shoumee$

Sar$er. ,t is an indi'idua# %or$ done under the super'ision and guidance of -d. -ahbubu#

a/ue 0han 2ecturer in 3inance )epartment of Business dministration *ast est Uni'ersit+.

,t fu#fi##s the re/uirement of the pro!ect %or$ that a Business 5raduate must undergo in order to

/ua#if+ for the degree of BB in *ast est Uni'ersit+.

1.6 Ob!ecti'es of The Stud+

The ob!ecti'es of the stud+ are as fo##o%s7

i. To present an o'er'ie% of )S*

ii. To appraise the functions of )S*iii. To ana#+e different categories of Shares traded in )S*

i'. To appraise the performance of )S*

'. To identif+ the prob#ems of )S*'i. To suggest remedia# measures for the de'e#opment of )S*

1. Scope of The Report

The scope of this report is to find out the o'era## performance of )S* b+ ana#+ing data of #ast

se'en +ears. The report is basica##+ di'ided into t%o parts7

• Theoretica# or Organiationa# art

• erformance or na#+tica# art

The theoretica# foundation part of the report gi'es an o'er'ie% of )ha$a Stoc$ *&change. ,t

focuses upon the histor+ of )S* mission of )S* :ision of )S* formation #ega# contro# of

)S* membership management #isting ru#e at )S* ob!ecti'es and functions of )S*



forecasting financia# mar$et and t+pes of mar$et at )S*. The stud+ a#so concentrates upon the

different functions performed b+ )S* inc#uding sur'ei##ance acti'ities.

The ana#+sis part of the report basica##+ e'a#uates the performance of )ha$a Stoc$ *&change

through different performance measurement indicators such as #isted issues issued capita# ,Ooffering )S* turno'er mar$et capita#iation )S* inde& etc. and in the #ast portion of the report

prob#ems and #imitations of )S* is presented and some suggestions are addressed.

14 Methodology

The data is co##ected from discussion %ith m+ pro!ect instructor reading of re#ated boo$s

pub#ications artic#es different report magaines and documents co##ected from ,nternet

and information from )S* #ibrar+. To perform the stud+ after identif+ing and co##ecting

the data from different sources the+ %i## be c#assified ana#+ed interpreted and

presented in a s+stematic manner. The ana#+sis %i## be presented theoretica##+

ana#+tica##+ mathematica##+ and graphica##+.

1.5 Limitations of the Report

,t is true that at the time of doing an+ stud+ on a sub!ect or research on a sub!ect e'er+

materia# of stud+ %ou#d not be a'ai#ab#e a## the time. , might face some prob#ems or

there must be some #imitations. t the beginning stage of m+ stud+ , had some prob#em

#i$e , did not get a## re#e'ant information. Sometimes , got information but #ater it

turned into uncomp#eted or o#d information. nother significant #imitation of the stud+

%as time restriction. *'en though , ha'e gi'en our fu## effort to ma$e this report a good

one but it is too tough to perform %e## such an ana#+sis %ithin a shorter period of time.

Though , ha'e faced some other prob#ems such as una'ai#abi#it+ of some information

technica# prob#ems %hich inc#udes computer prob#em 'irus prob#ems soft%are

prob#ems , a#so had prob#ems regarding some brochures fi#e information paper. But ,

did not gi'e it up. , continued m+ /uest. nd , %as ab#e to get o'er the prob#ems and

#imitations.



2.1 Brief History of DSE

)ha$a Stoc$ *&change %as estab#ished as *ast a$istan Stoc$ *&change ssociation 2imited

on pri# 68 19;4. 3orma# trading of the bourse began in 19;<. On =une 6 19<6 it %as

renamed as *ast a$istan Stoc$ *&change 2td. The name of the stoc$ e&change %as once

again changed to )acca Stoc$ *&change 2td on -a+ 1 19<4. The ser'ice on the stoc$

e&change continued uninterrupted unti# 19>1. The trading %as suspended during the #iberation

%ar and resumed in 19>< %ith the change of economic po#ic+ if the go'ernment.

Since then the bourse did not #oo$ bac$ and continued its !ourne+ contributing to the

de'e#opment acti'ities of the nation. On ugust 1? 1998 the )S* introduced screen@based

state@of@the@art automated on#ine rea# time trading through 2oca# rea Aet%or$ (2A and

ide rea Aet%or$ (A. )S* upgraded its automated trading s+stem on ugust 61 6??;.

entra# )epositor+ S+stem ()S for e#ectronic sett#ement of share trading made a debut in

the )S* during that period. The )ha$a Stoc$ *&change becomes a fu## )epositor+ articipant

() of )B2 to faci#itate the trading of its non@) members. 5o'ernment Bonds made a

)ebut on the )S* on 1st =anuar+ 6??;. ,n its ;;@+ear !ourne+ the stoc$ *&change has made

significant contribution to the econom+ of Bang#adesh pro'iding the uni/ue 'enue to raise

in'estment from the members of the pub#ic. The Stoc$ *&change is in the re#ent#ess process of

moderniation and up@gradation of its s+stems and faci#ities to home in #atest techno#ogies

a'ai#ab#e. O'er the +ears the bourse has earned confidence of the in'estors. The S*

appro'ed the )ha$a Stoc$ *&change )irect 2isting regu#ation@6??< as proposed b+ the )S*

%hich pa'ed the %a+ for direct #isting of #arge and profitab#e companies %ith the )S*. ne%

#isting Regu#ation is a#so at fina# stage to accommodate the changing needs of the econom+.

6.6 -ission of )S*

-ission of )S* is simp#e @ to ma$e one a better in'estor so that he can in'est con'enient#+ atBang#adesh stoc$ e&changes. )S* too# #ets one create the %ebCs best #oo$ing financia# charts

for technica# ana#+sis. ,ts scan *ngine sho%s one the Bang#adesh share mar$etCs best in'esting

opportunities.

,n toda+Cs %or#d if one re#ies on fundamenta# ana#+sis bro$ers ad'ise share price information



ne%spaper artic#es or business channe#s for +our in'esting or trading decisions one is as$ing

for a painfu# e&perience in the mar$ets.

hether +ou are a first time in'estor a seasoned pro an "in and out" da+ trader or a #ong term

in'estor at )ha$a stoc$ e&change Stoc$Bang#adesh.com %i## pro'ide +ou %ith the necessar+

information +ou need for ma&imum profits and success in toda+Cs d+namic mar$ets.

The goa# of )S* is to he#p traders and in'estors of Bang#adesh share mar$et to achie'e abo'e@

a'erage returns from the mar$ets b+ pro'iding them %ith profitab#e trading signa#s and at the

same time protect their trading capita# from #arge dra%do%n %ith sound mone+ management

princip#es.

The methods used to ana#+e securities and ma$e in'estment decisions fai# into t%o 'er+ broad

categories7 fundamenta# ana#+sis and technica# ana#+sis. 3undamenta# ana#+sis in'o#'es

ana#+ing the characteristics of a compan+ in order to estimate its 'a#ue. Technica# ana#+sis

ta$es a comp#ete#+ different approachD it doesnCt care one bit about the "'a#ue" of a compan+ or

a commodit+. Technicians (sometimes ca##ed chartists are on#+ interested in the price

mo'ements in the mar$et.

)espite a## the fanc+ and e&otic too#s it emp#o+s technica# ana#+sis rea##+ !ust studies supp#+

and demand in a mar$et in an attempt to determine %hat direction or trend %i## continue in the

future. ,n other %ords technica# ana#+sis attempts to understand the emotions in the mar$et b+

stud+ing the mar$et itse#f as opposed to its components. ,f +ou understand the benefits and

#imitations of technica# ana#+sis it can gi'e +ou a ne% set of too#s or s$i##s that %i## enab#e +ou

to be a better trader or in'estor.

6. :ision of )S*

To be a #eading bro$erage firm in Bang#adesh b+ pro'iding our c#ients a fu## range of in'estment

products@ inc#uding stoc$s bonds mutua# funds and )s.

To be the premier pro'ider of in'estment ad'isor+ and financia# p#anning ser'ices@ inc#uding

sa#es research under%riting and trading for indi'idua#s and institutions.



6.4 3ormation of )S*

)ha$a Stoc$ *&change ()S* is a pub#ic #imited compan+. ,t is formed and managed under

ompan+ ct 1994 Securit+ and *&change ommission ct 199 Securit+ and *&change

ommission Regu#ation 1994 and Securit+ *&change (,nside Trading regu#ation 1994. Theissued capita# of this compan+ is T$. ;????? %hich is di'ided up to 6;? shares each pricing T$.

6???. Ao indi'idua# or firm can bu+ more than one share. ccording to stoc$ mar$et ru#e on#+

members can participate in the f#oor and can bu+ shares for himse#f or his c#ients. t present it

has 68 members. -ar$et capita#iation of the )ha$a Stoc$ *&change reached to T$. 188>1>>

mi##ion in 6??9 and T$. 4>11?9 mi##ion in 6?1?.

6.; 2ega# ontro# of )S*

The )ha$a Stoc$ *&change ()S* is incorporated as ub#ic 2imited ompan+. ,t is a Se#f@

Regu#ator+ Organiation and its acti'ities are regu#ated b+7

• rtic#es of ssociation ru#es E regu#ations and b+e@#a%s

• Securities and *&change Ordinance F 19<9

• ompanies ct F 1994

• Securities E *&change ommission ct F 199

6.< -embership

The )S* has 250 memers %ho are the shareho#ders of the *&change. The members are #icensed

b+ the Securities and *&change ommission (S* for conducting trading as Stoc$ )ea#er or

Bro$er. ## Bro$erage house ha'e been corporatied in 6??<.

6.> -anagement of )S*

The Board of )irectors

Through continuous reforms )ha$a Stoc$ *&change has emerged into a modem *&change. The

da+ to da+ affairs of the )S* is run b+ a high#+ /ua#ified and trained e&ecuti'e team %ho %or$s

independent#+ under po#icies set b+ the Board of )irectors.

http://www.dsebd.org/search_all.php





The )S* Board comprises of 6; members. mong them 16 are e#ected through direct e#ection

from the 68 shareho#ders of )S* and 16 are se#ected from different trade bodies and re#e'ant

organiations. nd the *O of the *&change is the 6;th )irector of the Board. ccording to the

rtic#es of ssociation ru#es E regu#ations and b+e@#a%s7

The contro# and management of the affairs of the *&change sha## be 'ested in a Board of

)irectors consisting of the fo##o%ing 64 (t%ent+@four )irectors name#+7

• T%e#'e )irectors to be e#ected direct#+ b+ the -embers of the *&change in accordance

%ith the pro'isions of these rtic#es and the *#ection Ru#es made there under.

• One )irector to be nominated b+ the -inistr+ of 3inance (3inance )i'ision not be#o%

the ran$ and status of =oint Secretar+D

• One )irector to be nominated b+ the Bang#adesh Ban$ from amongst its officers of or

abo'e the ran$ of 5enera# -anagerD

• resident of ,B. e&@officioD

• resident of 3B, e&@officioD

• resident of -, e&@officioD

• resident of ), e&@officioD

• One )irector to be nominated b+ the -inistr+ of ,ndustr+ not be#o% the ran$ and status

of =oint Secretar+D

• One )irector to be nominated b+ the -inistr+ of ommerce not be#o% the ran$ and

status of =oint Secretar+D

• One )irector to be nominated b+ the -inistr+ of 2a% not be#o% the ran$ and status of

=oint Secretar+D

• resident of Supreme ourt Bar ssociation e&@officioD

• resident of Ban$sG,nsurance ssociation e&@officioD

• ead of the )epartment 3inanceG *conomics )ha$a Uni'ersit+ e&@officio.

• The nominated under sub@rtic#e , (b and 1(c sha## ho#d office for a period of one +ear

but sha## be e#igib#e for re@nomination.

The )irectors e#ected under sub@rtic#e 1 (a sha## e#ect from amongst themse#'es one resident

one Senior :ice resident and one :ice resident %ho sha## be resident Senior :ice resident

and :ice resident respecti'e#+ of the Board of )irectors of the *&change. The resident Senior

:ice resident and :ice resident sha## be re/uired to submit %ee$#+ statement to the



ommission sho%ing in detai#s their transactions in shares and securities of the #isted companies

during the period of their ho#ding office in the Board of )irectors of the *&change.

DSE Offices:

DSE Head !ffi"e#

)ha$a Stoc$ *&change 2td.

Stoc$ *&change Bui#ding

9G3 -oti!hee# G

)ha$a@1???

hone7 H88@?6@9;<4<?1 >1>;>?@11

3a&7 H88@?6@9;<4>6> H88@?6@9;<9>;;

DSE Bran"h !ffi"es#

)S* hittagong Office )S* S+#het Office

ddress7 ddress7

Shafi Bhaban RA To%er

< Shei$h -u!ib Road ho%hatta

grabad ommercia# rea S+#het

hittagong@41??

hone7 H88@?1@6;141?? hone7 H88@?861@>6>88?

3a&7 H88@?1@6;141?? 3a&7 H88@?861@>6>88?

6.8 2isting Ru#e at )S*



ccording to the #isting regu#ations of the )ha$a stoc$ e&change #imited7

a Ao dea#ings in securities of a compan+ sha## be a##o%ed on the *&change either on the

Read+ /uotation Board or #eared 2ist un#ess the compan+ or the securities ha'e been

#isted and permission for such dea#ing has been granted in accordance %ith theseRegu#ations.

b The permission under sub@regu#ation (1 ma+ be granted upon an app#ication being made

b+ the compan+ or in respect of the securities in the manner prescribed at #east ten da+s

prior to issue of the first prospectus. The *&change in granting such permission %i##

consider among other things sufficient#+ of pub#ic interest in the compan+ or the

securities as determined b+ the ounci# in a %e##@defined %a+.

c The *&change sha## decide the /uestion of granting permission %ithin a ma&imum period

of si& %ee$s from the date of c#osure of subscription #ists. ,n case the permission isrefused the reasons thereof %i## be communicated to the app#icant and the ommission

%ithin si& %ee$s from the date of c#osure of subscription #ists.d The ounci# %i## be the so#e authorit+ to grant defer or refuse such permission and ma+

for that purpose re#a& an+ of these regu#ation sub!ect on#+ to t%o@third ma!orit+ of the

counci#ors present at such meeting of the counci# and so reso#'ing b+ the ma!orit+ of

them.

e The app#ication for #isting sha## be made b+ the app#icant@compan+ or on beha#f of the

securit+ in the prescribed form and %i## be accompanied b+ the fees specified in theRegu#ations.

f The ounci# ma+ re/uire additiona# e'idence dec#arations affirmations and information

as a#so other forms to be fi##ed up reasonab#e and re#e'ant to app#ication for #isting and

a## such re/uisitions sha## be deemed to be prescribed re/uisitions for the purpose of a

proper app#ication for consideration b+ the ounci# for #isting.

g ,f an app#ication together %ith the additiona# information referred to in sub regu#ation (6

is not submitted the ounci# ma+ defer consideration or dec#ine to consider it in %hich

case such app#ication %i## stand disposed of as refused. o%e'er the app#icant ma+ mo'ea fresh app#ication after si& months from the date of such refusa# un#ess the ounci#

other@%ise decides.

h n pp#icant@compan+ or securit+ app#+ing for #isting sha## furnish fu## and authentic

information in respect thereof and such other particu#ars reasonab#e and re#e'ant to the



app#ication for #isting as the ounci# or the *&change ma+ re/uire from time to time. ##

routine particu#ars ma+ be ca##ed for b+ the Secretar+.

5enera# rocess of 2isting Through ,O

The un#isted companies are re/uired to comp#ete certain procedures to get #isted at )S*. The

present processG%a+ of #isting in short is described be#o%7

,. *'er+ compan+ intending to en#ist its securities to )S* b+ issuing its securities through

,O is re/uired to appoint ,ssue -anager to proceed %ith the #isting process of the

compan+ in the *&change.

,,. The ,ssue -anager prepares the draft prospectus of the compan+ as per ub#ic ,ssue

Ru#es of S* and submit the same to the S* and the *&change(s for necessar+

appro'a#.,,,. The ,ssuer is a#so re/uired to ma$e agreement %ith the Under%riter(s and Ban$ers to the

,ssue for ,O purpose

,:. fter recei'ing the draft prospectus the *&change e&amine and e'a#uate o'era##

performance as %e## as financia# features of the compan+ %hich ma+ ha'e short term and

#ong term impact on the mar$et:. The *&change send its opinion to S* %ithin 1; da+s of receipt of draft prospectus for

S*Cs consideration:,. fter proper scrutin+ S* gi'es it consent for f#oating ,O as per ub#ic ,ssue Ru#e

:,,. a'ing consent from S* the ,ssuer is re/uired to fi#e app#ication to the *&change for

#isting its securities %ithin ; da+s of issuance of its prospectus

:,,,. On successfu# subscription the compan+ is re/uired to comp#ete distribution of

a##otmentGrefund %arrants %ithin 46 da+s of c#osing of subscription

,I. fter 1??J distribution of sharesGrefund %arrants and comp#iance of other re/uirements

the app#ication for #isting of the ,ssuer is p#aced to the *&changeCs meeting for necessar+

decision of the Board of )S*.

I. The Board of )S* ta$es the decision regarding #istingGnon@#isting of the compan+ %hich

must be comp#eted %ithin >; da+s from the c#osure of the subscription.

)S* )irect 2isting Regu#ations 6??<



-ature companies are a##o%ed for direct #isting. But the fo##o%ing $e+ conditions must be

fu#fi##ed to be e#igib#e for direct #isting@

• Sha## ha'e minimum paid up capita# of T$. 1?? (one hundred mi##ion

• Sha## ha'e no accumu#ated #oss

• Sha## be in commercia# operation for at #east immediate #ast fi'e +ears

• Sha## ha'e profit in three +ears out of the immediate #ast fi'e comp#eted accounting G

financia# +ears %ith stead+ gro%th pattern

• ,s regu#ar in ho#ding nnua# 5enera# -eeting (5-

• a'e a credit rating BBB or abo'e

.1 Ob!ecti'es of )S*

The ob!ects for the estab#ishment of )S* are7

a To pro'ide regu#ate and maintain a suitab#e bui#ding room or rooms for a Stoc$

*&change in Bang#adesh.

b To conduct the affairs of the Stoc$ *&change.

c To faci#itate the transaction of business on the Stoc$ *&change and to ma$e #a%s B+e@

2a%s and Regu#ations sub!ect to %hich business on such Stoc$ *&change sha## be

transacted and the conduct of the persons transacting the same and genera#it+ for the good

other and go'ernment of the members of *&change.d To promote support and protect the character status and common interests of Stoc$ and

Share Bro$ers and Stoc$ Share )ea#ers.

e To ad!ust contro'ersies bet%een its members to estab#ish !ust and e/uitab#e rincip#es in

the business to promote honorab#e practices amongst members and to decide a## /uestion

of usage or courtes+ bet%een or among members of the *&change.

f To urchase ta$e on #ease on tenanc+ or other%ise ac/uire for an+ estate or interest

%hatsoe'er and to ho#d de'e#op dea# %ith and turn to account options #eases propert+

rea# and persona# %hich the *&change for the purpose thereof ma+ from time to time

thin$ proper to ac/uire.g To se## e&change mortgage #et to #ease or sub#et disposes of account or other%ise dea#

%ith a## or an+ part of the propert+ of the e&change.

h To borro% or raise or secure the pa+ment of an+ mone+ in such manner as the *&change

sha## thin$ fit and in particu#ar b+ the issue of debentures or debenture stoc$ perpetua# or

other%ise charged upon and or an+ of the propert+ of the *&change both present and



future inc#uding its unca##ed capita# and to purchase redeem and pa+ off and such

securities.i To in'est an+ mone+s of the *&change not for the time being re/uired such in'estment

(other than shares or stoc$ in the *&change as ma+ be thought proper and to ho#d se## or

other%ise dea# %ith such in'estments. ! To subscribe for or guarantee mone+ for an+ Aationa# charitab#e bene'o#ent genera# or

usefu# ob!ect.$ To enter into an+ arrangements and to ta$e a## necessar+ and proper steps %ith

5o'ernment or %ith other authorities Aationa# #ega# municipa# or other%ise of an+ p#ace

in %hich the *&change or its members ma+ ha'e interest and to promote or assist the

promotion %hether direct#+ or indirect#+ of an+ #egis#ation %hich ma+ appear to be in the

interest of the *&change and to oppose and resist %hether direct#+ or indirect#+ an+

#egis#ation %hich ma+ seem disad'antageous to the *&change or its members.# To underta$e and e&ecute an+ trust the underta$ing of %hich ma+ seem to the *&change

desirab#e and either gratuitous#+ or other%ise and to do a## such other things as are

incidenta# conduci'e to the attainment of the abo'e ob!ect sub!ect.

.6 3unctions of )S*

The ma!or functions are7

2isting of securities and ensuring comp#iance b+ the issuers.

Trading pro'isions for #isted securities through efficient trading p#atform (on#ine screen

based trading s+stem.

Sett#ement of trading (s per Sett#ement of Transaction Regu#ations.

5ifting of share G granting appro'a# to the transactionGtransfer of share outside the trading

s+stem of the e&change (s per 2isting Regu#ations 46.

-ar$et dministration E ontro#.

-ar$et Sur'ei##ance.

ub#ication of -onth#+ Re'ie%. -onitoring the acti'ities of #isted companies (s per 2isting Regu#ations.

,n'estorsC grie'ance e## ()isposa# of comp#aint b+e@#a%s 199>.

,n'estors rotection 3und (s per in'estor protection fund Regu#ations 1999.

nnouncement of rice sensiti'e or other information about #isted companies through

on#ine.



Some more functions of )S* are gi'en be##o%7

• )ispute reso#ution7 )S* has an arbitration s+stem to reso#'e disputes or c#aims against

members through a pane# of !udges comprising ; retired district !udges.

• S-S faci#it+7 )S* is offering S-S ser'ices. n+one can get 2atest Trade ,nformation of

an+ )S* 2isted ompan+ he or she desires b+ sending S-S.

• 5RS faci#it+7 )S* is offering 5RS ser'ices. 3or 5RS users to ma$e use of the BU22

soft%are. it is needed to get registered first. Then an+one can access the soft%are b+

mobi#e through 5RS to get a 'ariet+ of 2atest Trade ,nformation of )S*. The

app#ication re/uires #ogin before using it. On#+ 5rameenphone users can register and

#ogin right no%.

. Sur'ei##ance of )S*

## the instruments traded in the mar$et come under the Sur'ei##ance umbre##a of )S*. The main

ob!ecti'e of the Sur'ei##ance function of the *&change is to promote mar$et integrit+ in t%o

%a+sF

B+ monitoring price and 'o#ume mo'ements ('o#ati#it+ as %e## as b+ detecting potentia#

mar$et abuses at a nascent stage %ith a 'ie% to minimiing the abi#it+ of the mar$et

participants to inf#uence the price of the scripGscripCs in the absence of an+ meaningfu#

information.

B+ managing defau#t ris$ b+ ta$ing necessar+ actions time#+.

-ar$et buse is a broad term %hich inc#udes abnorma# priceG'o#ume mo'ement artificia#

transactions fa#se or mis#eading impressions insider trading etc. ,n order to detect aberrant

beha'ior or mo'ement it is necessar+ to $no% the norma# mar$et beha'ior. The sur'ei##ance

department carries out in'estigation if necessar+ based on the pre#iminar+ e&aminationGana#+sis

and suitab#e actions are ta$en against members in'o#'ed based on the in'estigation.

Sur'ei##ance acti'ities at the *&change are di'ided broad#+ into t%o ma!or segments @@



,. rice -onitoring

rice monitoring is man#+ re#ated to the price mo'ementG abnorma# f#uctuation in prices or

'o#umes etc. The functioning of the rice -onitoring is broad#+ di'ided into fo##o%ing acti'ities7

a On line Surveillance7 One of the most important too#s of the Sur'ei##ance is the On@#ine

Rea# Time Sur'ei##ance s+stem %ith main ob!ecti'es of detecting potentia# mar$et abuses

at a nascent stage to reduce the abi#it+ of the mar$et participants to undu#+ inf#uence the

price and 'o#umes of the scrips traded at the *&change to impro'e the ris$ management

s+stem and strengthen the se#f@regu#ator+ mechanism at the *&change. The s+stem

pro'ides faci#it+ to access trades and orders of members.

b Off-Line Surveillance7 The Off@2ine Sur'ei##ance s+stem comprises of the 'arious

reports based on different parameters and scrutin+ thereof

ighG2o% )ifference in prices

J change in prices o'er a %ee$G fortnightG month

Top A scrips b+ Turno'er o'er a %ee$G fortnightG month

Top A scrips b+ :o#ume o'er a %ee$G fortnightG month

Trading in infre/uent#+ traded scrips

Scrips hitting Ae% igh G 2o% etc.

c ,n'estigations7 onducting in@depth in'estigations based on pre#iminar+

en/uiriesGana#+sis made into trading of the scrip. ,n case of irregu#arities obser'ed

necessar+ actions are initiated or in'estigation case for%arded to S* if necessar+

through the *O.

d Sur'ei##ance ctions7

arning to -embers7 The department ma+ issue 'erba#G %ritten %arning to memberGs

%hen a mar$et irregu#arit+ in the scrip is suspected.

,mposition of pena#t+G suspension7 The department through the *O imposes

pena#t+ or suspend the memberGs %ho are in'o#'ed in mar$et irregu#arities based on

the inputGe'idence a'ai#ab#e from in'estigation report.

e Rumor 'erification



2iaising %ith omp#iance Officers of companies to obtain comments of the compan+

on 'arious price sensiti'e corporate ne%s items appearing in se#ected Ae%s apers.

omments recei'ed from the companies are disseminated to the mar$et b+ %a+ of

on#ine ne%s bu##etin.

,n'estigations based on rumor 'erifications are carried out if re/uired. to detect cases

of suspected insider trading.

,,. osition -onitoring7

The position monitoring re#ates main#+ to abnorma# positions of members etc. in order to

manage defau#t ris$. The Sur'ei##ance )epartment c#ose#+ monitors outstanding e&posure of

members on a dai#+ basis. 3or this purpose it obser'es 'arious off@#ine and on@#ine mar$et

monitoring reports. The reports are scrutinied to ascertain %hether there is e&cessi'e purchase

or sa#e position bui#d up compared to the norma# business of the member %hether there are

concentrated purchases or sa#es %hether the purchases ha'e been made b+ inacti'e or financia##+

%ea$ members and e'en the /ua#it+ of scrips is considered to assess the /ua#it+ of e&posure. The

fo##o%ing $e+ areas are e&amined to assess the mar$et ris$ in'o#'ed @@

a Online monitoring of Brokers Position7 Sur'ei##ance c#ose#+ monitors bro$erCs gross

turno'er e&posure for ensuring margin ca##s in time. b B/S Statement of Trading Members7 Scrutiniing the statement on dai#+ basis. ,t is for

$eeping a %atch on the e&posure of the members E ascertains the /ua#it+ of e&posures.

detai#ed report on the net outstanding positions of top purchasers and top se##ers in

indi'idua# scrips is prepared if considered necessar+.c oncentrated B/S7 ,t is considered a ris$+ issue. ,n case such a situation is noticed

fundamenta#s of the scrips their dai#+ turno'er their nature of transactions are

ascertained. Thereafter based on the mar$et ris$ perception appropriate sur'ei##ance

actions are ta$en.d B/S of scri!s "aving t"in trading7 ,t is c#ose#+ scrutinied as comparati'e#+ high mar$et

ris$ is in'o#'ed in trading in such scrips. )etai#s of trades in such scrips if necessar+ are

ca##ed from members to assess the mar$et ris$ in'o#'ed E decide on the appropriate

sur'ei##ance action.



e #erification of $nstitutional Trade7 The institutiona# trades e&ecuted b+ the trading

members are 'erified to ascertain the genuineness of trades.f #erification of %oreign Trade7 The foreign trades e&ecuted b+ the trading members are

'erified to ascertain the genuineness of trades.

g #erification of ross &e!orting Trade7 The report crossing trades e&ecuted b+ thetrading members are 'erified to ascertain the genuineness of trades.

h #erification of Dealers o'n trades7 Trades e&ecuted b+ the trading members ()ea#ers

are 'erified to ascertain the genuineness of trades.

i #erification of S!onsor(s Trade7 The Sponsors trades e&ecuted b+ the trading members

are 'erified to ascertain the genuineness of trades. ! Sna! $nvestigation7 To carr+ out %here'er considered necessar+ pre#iminar+

in'estigation of certain dea#ings to 'erif+ irregu#arities. 3urther actions 'i. referring

the case for detai#ed in'estigation referring the case to the Sec depending on the

findings of pre#iminar+ in'estigation.

$ Market $ntelligence7 The rumors f#oating in the mar$et are 'erified %ith the data

a'ai#ab#e %ith )S* Ae%spapers Te#e'ision ne%s channe#s E Reuters to ascertain the

nationa# E g#oba# factors affecting the mar$et sentiments. This enab#es the *&change to

a'ert mar$et prob#ems before it causes a serious damage.

# &evie' Block Trades7 To determine K

hether the b#oc$ %as e&ecuted at a price e'en if at a discount or premium %hich

%as in #ine %ith other trading of the stoc$.

hether there %as an+ ne%s on the compan+ %hich caused the price increase or decrease subse/uent to the b#oc$ transaction.

m &evie' List of Settlement %ailures7 To identif+ K

bro$erGs %ith fre/uent fai#ures

a particu#ar stoc$ %ith a pattern.

n #erif) om!an) *ccounts7 To scrutinie compan+ announcements compan+ reports

auditors /ua#ifications E other notes of specia# interests in the pub#ished accounts of

such compan+.

o &evie' Media $nformation7 To scrutinie press artic#es or other media on the dai#+

basis the ne%s re#e'ant to the share prices of companies. p Monitoring on +e'l) Listed Stock 7 To re'ie% a## acti'ities of a ne%#+ #isted stoc$ for

the first 1 G 6 %ee$s to identif+ an+ abnorma# dea#./ Develo! ,ood Liaison7 To de'e#op E maintain good #iaison %ith staff members of S*

E #isted companies E member firms as %e##.

r )e'e#op mar$et contacts E to pic$ up ,nte##igence.



.4 3orecasting 3inancia# -ar$et

The methods used b+ )S* for 3inancia# -ar$et 3orecasting are as fo##o%s7

a 3undamenta# na#+sis7

3undamenta# na#+sis is a method in %hich a securit+ is e'a#uated b+ tr+ing to determine its

intrinsic 'a#ue b+ e&amination of associated economic financia# and other /ua#itati'e and

/uantitati'e factors. 3undamenta# na#+sts research on e'er+thing that inf#uences the 'a#ue of

the securit+. This ma+ a#so inc#ude macroeconomic factors (o'era## condition of econom+ and

industr+ and particu#ar indi'idua# factors (management and financia# condition of companies.

3undamenta# ana#+sis uses rea# data for e'a#uation of the 'a#ue of a securit+ #i$e sset :a#uation

Ba#ance Sheet )ata and ,ncome Statement etc.

b Technica# na#+sis7

The technica# ana#+sis is a method in %hich securities are e'a#uated %ith the he#p of ana#+ing

statistica# data %hich is generated b+ mar$et acti'ities #i$e past prices and 'o#umes. Technica#

na#+sis does not tr+ to measure the intrinsic 'a#ue of a securit+. ,t uti#ies charts graphs and

other too#s to determine patterns suggesti'e of future acti'ities. Technica# na#+sis suggests that

the past performances of stoc$s and mar$ets indicate the future performance. ,t is !ust the

opposite approach of 3undamenta# na#+sis.

. ; T+pes of -ar$et at )S*

Trading is done through automated on#ine s+stem e'er+ da+ e&cept 3rida+ Saturda+ and other

go'ernment ho#ida+s. There are four mar$ets in the s+stem7



DhakaStock

Exchange

PublicMarket

SpotMarket

Blockmarket

Odd LotMarket

3igures7 T+pes of mar$et at )S*

. Public Market7 ,n this mar$et instruments are traded in norma# 'o#ume. On#+ trading of

mar$et #ot share is done here through automatic matching.B. S!ot Market7 ,nstruments are traded in norma# 'o#umes under corporate action if an+.

Spot transactions are done here through automatic matching %hich must be sett#ed %ithin

64 hours.. Odd lot Market7 Odd #ots of a## ,nstruments are trade in this mar$et. Odd #ot scripts are

traded here based on pic$ and fi## basis.

). Block Market7 ,nstruments are traded in bu#$ 'o#ume. ,t is a p#ace %here bu#$ /uantities

of shares are traded through pic$ and fi## basis.

Recent#+ )ha$a Stoc$ *&change introduced OT mar$et for the !un$ shares traded in )S*.

## transactions in pub#ic mar$et of a da+ after netting are sett#ed and c#eared through the )S*

#earing ouse due on rd and >th %or$ing da+ respecti'e#+ ca#cu#ated from date of trading.

-embers sha## be a##o%ed to carr+ out transaction of foreign bu+ers andGor se##er in'o#'ing a

custodian ban$ to be sett#ed direct#+ bet%een the members through the custodian ban$ %ithin the

fifth da+ subse/uent to the trading da+.



.< Transaction rocess at )S*

Orders

)irect 2isting

orporation

,n'estor (6Bro$ers

,n'estor (1

,n'estment Ban$er

3#oor Bro$ers

S*

2otter+

roposa#

pp#ication

Specia#ist)ea#ersd'ertisement

3i&ed rice

Boo$ Bui#ding

uction



3igure7 Transaction process at )S*

.> ategoriation of Share

The prime bourse of the countr+ introduced "5roup " and "5roup B" from =u#+ 6 6??? based

on its financia# strength and performance to gi'e c#ear information to in'estors for ta$ing

informed decision. )S* has further categoried the securities b+ introducing "5roup L" %hich

came into effect from September 6< 6???. The Stoc$ *&change introduced another compan+

categor+ "5roup 5" on =une ? 6??6. The categoriation he#ps a #ot the in'estors in choosing

companies before ma$ing in'estment decision. A ategor+@ the ne%est one %as #aunched

through an order of S* on =u#+ 6??<.

(*( ategor) om!anies7 ompanies %hich are regu#ar in ho#ding the nnua# 5enera#

-eetings and ha'e dec#ared di'idend at the rate of 1? percent or more in a ca#endar +ear.

(-utua# 3unds )ebentures E Bond are being traded in this ategor+.

B( ategor) om!anies7 ompanies %hich are regu#ar in ho#ding the nnua# 5enera#

-eetings but ha'e fai#ed to dec#are di'idend at #east at the rate of 1? percent in a ca#endar

+ear.

,( ategor) om!anies7 5reenfie#d ompanies. (+( ategor) om!anies7 ## ne%#+ #isted companies e&cept 5reenfie#d companies %i##

be p#aced in this categor+ and their sett#ement s+stem %ou#d be #i$e B@categor+

companies.

.( ategor) om!anies7 ompanies %hich ha'e fai#ed to ho#d the nnua# 5enera#

-eetings or fai#ed to dec#are an+ di'idend or %hich are not in operation continuous#+ for

more than si& months or %hose accumu#ated #oss after ad!ustment of re'enue reser'e if

an+ is negati'e and e&ceeded its paid up capita#.

.8 )S* utomated Trading S+stem

reamb#e



5#oba##+ the de'e#opments in information E communication techno#ogies (,T ha'e created a

ne% instance in the securities mar$et operations. Stoc$ *&changes a## o'er the %or#d ha'e

rea#ied the potentia#it+ of ,T and inc#ined to the e#ectronic trading s+stems. ,t %as understood

b+ )S* that techno#og+ %ou#d ensure transparenc+ time#iness and satisfaction in customer

ser'ice. onsidering those )S* introduced utomated Trading S+stem on 1?th ugust 1998.,n

other %ords the trading f#oor mo'ed right into the memberCs office premises %here an in'estor

started to p#ace bu+Gse## orders.

onsidering mar$et gro%th the utomated Trading S+stem %as upgraded t%o times. The

recent#+ Upgraded Trading S+stem %as started from 61st )ecember 6??8.

ard%are

)S* utomated Trading S+stem ( AonStop S>8?< is running on fau#t to#erant high

a'ai#ab#e sca#ab#e and maintainab#e -ainframe Ser'er. re'ious#+ )S* estab#ished the

TA)*- AonStop 06?4 S+stem on September 1998 and on ugust 6??; it %as rep#aced %ith

high#+ sca#eab#e AonStop S>8?6.

)S* upgraded the Trading S+stem again on 61st )ecember 6??8. The e&isting AonStop

S>8?< Ser'er is high#+ fau#t to#erant to the fact that no sing#e component fai#ure %i## ha#t the

s+stem. ,ts constituent parts are hot s%appab#e and up%ard compatib#eD components can be

added or remo'ed %hi#e the s+stem is running and an+ compatib#e ne% upgraded %i## %or$ %ith

the s+stem.

## dis$ dri'es are mirrored so if an+ of the dis$ crashes the e&act cop+ of the data is a'ai#ab#e at

on#ine. -oreo'er the connecting path for e'er+ dis$ %hether it is primar+ or mirror is a#so

redundant. ,n e'er+ case minimum t%o periphera# de'ices e&ist. ## the components are %or$ing

acti'e @ acti'e #oad ba#ancing procedure. To ensure better po%er /ua#it+ %e ha'e ensured high

end USCs %ith #ong durab#e bac$up capabi#it+ t%o instant bac$up generations and other

e#ectrica# de'ices.

Aet%or$ (2A G A

## the -ember (68 members Ser'er pp#ications (-S are connected %ith AonStop S@

Series Ser'er through either )S* 2A or A connecti'it+. *ach member has one or more



Trader or$ Station (TS. The TSs are being connected to the Trading Ser'er 'ia respecti'e

-S through 2A and A connection.

)S* outsourced -etroAet 2td. )AS 2td. I@Aet 2td. )ha$a om 2td. Ran$s ,TT 2in$@

Ro+a# 5reen On#ine 2td. etc Aet%or$ Ser'ice ro'iders (AS under A *&pansion ro!ect.

Ao% a da+s members can estab#ish a main office or branch offices to their remote #ocation and

can trade smooth#+ b+ using different media )S2 Optica# fiber and Radio 2in$ from )ha$a

and other important cities such as 5aipur Aara+angan! omi##a obigan! hittagong S+#het

0hu#na Barisa# Ra!shahi and Bogra at the same time.

Three )S* branch offices #ocated at hittagong S+#het and 0hu#na are connected 'ia BTTBCs

))A #in$. e a#so used another connecti'it+ for redundanc+ for the ))A #in$. e ha'e a p#an

to reach the )S* branches in same %a+.

)S* 2AGA *&pansion )S* 2AGA *&pansion

ithin )ha$a it+7 Outside of )ha$a it+7



,n case of trade interruption due to serious hard%are soft%are net%or$ fai#ure or

te#ecommunication disruption at the Bro$erage houses there is a pro'ision to a##o% traders to

trade at )S* ontingenc+ Trading f#oor.

S+stem Soft%are

The s+stem soft%are is roprietar+ AonStop 0*RA*2 and inc#udes the database as part of

the operating s+stem thereb+ e#iminating the #a+er t+pica##+ found in most )atabase -anagement

S+stems ()B-S. The )atabase functiona#ities are hand#ed b+ AOASTO SM2 %hich is simp#+

a different operationa# session for the operating s+stem. The proprietar+ nature of the s+stem

soft%are arguab#+ enhances s+stem securit+.

Operating s+stem is Cs proprietar+ AonStop 0erne#.

)B-S hand#ed b+ AonStop SM2.

The s+stem soft%are treats a## its hard%are resources as ob!ects and is thus entire#+ message

dri'en. This then a##o%s app#ication soft%are to be dep#o+ed using c#ient G ser'er architecture

pro'iding shared data processing bet%een the centra# ser'er and the user %or$station. The centra#trading s+stem resides in the Stoc$ *&change premises %hich is running 64 hrs in a da+ E <;

da+s in a +ear.

pp#ication Soft%are



The app#ication %hich runs in )S* for trading is ca##ed T*S (The *#ectronic Securities

rchitecture. T*S has t%o parts7 -S (-emberCs Ser'er pp#ication E TS (Trader

%or$station. -S is the "5ate%a+" bet%een the traders and the Stoc$ *&change %hich

manages a## the transactions and database operations bet%een the traders and the Trading *ngine.

TS is the 3ront@end pp#ication c#oser to in'estors %here the+ can submit Bu+GSe## orders for

their desired securities.

T*S (The *#ectronics Securities rchitecture is the Trading soft%are (Based on proprietar+

?GS E )B-S. ,t has de'e#oped in 'ie% of )istributed )atabase s+stem. ,n the c#ient site it is

being using SM2 as #oca# )atabase Trading Soft%are is -S E TS. ,n STS) (Signa# trader

Sing#e )atabase s+stem both -S E TS are running on a indo%s 6$ rofessiona# GI

rofessiona# %or$station and for -TS) (-u#tip#e trader Sing#e )atabase -S insta## in a

indo%s 6$ Ser'er E the TSs are in different indo%s 6$ rofessiona# rofessiona#

%or$station@using members in house 2A.

T*S rchitecture

T*S soft%are is bui#t for the g#oba# securities mar$ets. ,t uses fau#t to#erant computers

inte##igent %or$stations and c#ient G ser'er design techni/ues. This pro'ides co@operati'e

processing high message integrit+ continuous operation and fu##+ automatic reco'er+. This co@

operati'e mechanism enab#es 'er+ high speed processing %hich is essentia# for toda+Cs e#ectronic

mar$ets.

T*SCs pp#ication rogrammatic ,nterface (, is the gate%a+ to the T*S s+stem from the

outside %or#d. ## e&terna# de'ices connect through the ,. The , pro'ides the trans#ation

bet%een e&terna# de'ices and interna# processes. This means that a ne% process does not need to

be %ritten to support each ne% de'ice on#+ the , needs to be modified.

So#ution Benefits

The T*S app#ication suite deri'es significant ad'antages from being imp#emented on the

AonStop p#atform. The AonStop customers ha'e benefited from these ad'antages.

$a%lt &oleran"e7 One of the most important automation re/uirements for an+ stoc$ e&change

s+stem is continuous s+stem a'ai#abi#it+. ith most s+stems 3au#t To#erance is created at the



app#ication #e'e#. 3au#t To#erance is a fundamenta# design feature of the AonStop

architecture.

Data 'ntegrity7 )ata integrit+ is an integra# feature of architecture. T*S emp#o+s standard

too#s to achie'e e&ceptiona# data integrit+.

S"alaility7 The abi#it+ of an e&change to accommodate e&traordinar+ increases in transaction

'o#umes %ithout #oss of its apita# in'estment in automation is 'er+ important. The AonStop

Ser'er is massi'e#+ sca#ab#e due to ara##e# processors.

T*S 3unctiona# -ode#

n o'er'ie% of the T*S 3unctiona# -ode#

(lient ) Ser*er 7 T*SCs #ient G Ser'er architecture enab#es an efficient a##ocation of computing

resources and pro'ides easi#+ modified user@friend#+ interfaces. T*S %or$stations operate

under indo%s 60G I professiona# and can function either as ser'ers on a bro$erCs net%or$ or

as %or$station. These are used to perform trading and sett#ement acti'it+ b+ the bro$ers.

rincipa# 3unctions of T*S

Mar+et 'nformation7 Supp#+ing a## mar$et information needed to formu#ate the bu+ and se##

decisions.

!rder Management 7 ccept 'a#idate and store orders and /uotes from bro$er %or$stations and G

or s+stems.

!rder E,e"%tion7 utomatica##+ e&ecutes orders %hen bu+ and se## prices match.

&rade Reporting 7 Trade e&ecution reports are pro'ided to each trade participant to the sett#ement

s+stem and G or the depositor+ and to the mar$et.

'nde, (al"%lation7 a#cu#ates and pub#ishes mar$et indices ()S* 5enera# ,nde& E eighted'erage ,nde&.

Mar+et -""ess7 ro'ide e&change members %ith efficient affordab#e 5U,@based too#s for

accessing the mar$et.

Trading Sessions



T*S conducts trading in@;@phases.

En%iry7 ,n this session Bro$ers can #ogon to the s+stem. Ao order %i## be submitted in this

session. Ao trade %i## be e&ecuted. On#+ pre'ious orders can be %ithdre% in this session

!pening 7 The Opening is a pure sing#e@price auction. ## bu+ and a## se## orders are compared

and ca#cu#ate the open@ad!ust price. Ao trades %i## be e&ecuted in this session

(ontin%o%s &rading 7 )uring this phase participants enter orders and immediate e&ecution or for

inc#usion in the boo$. utomatic matching and e&ecution ta$es p#ace based on best priceG first in

first out trading ru#es

(losing 7 #osing prices are ca#cu#ated and disseminated to mar$et participants

En%iry7 -ar$et %i## be c#osed in this session E other faci#ities #i$e the pre'ious en/uir+ session.

-ar$et ontro#

The -ar$et ontro# or$station a##o%s the e&change administrati'e staff to contro# the

operation of the mar$et e.g.

Session (ontrol 7 Opening and c#osing the mar$et 'ia interacti'e contro# or b+ preset timers.

/alidation arameters7 Setting and 'ie%ing parameters that contro# the trading engine 'a#idation

e.g. tic$ sie ircuit Brea$er ircuit 3i#ter -ar$et #ot rice protection ercentage.

Messaging 7 ##o%s the dissemination of compan+ announcement data and genera# mar$et

administrati'e massages.

-ar$et ,nformation

-ar$et ,nformation is a rea#@time mar$et data s+stem. ,t co##ects manages generates and stores

information re#ating to trade instruments and issuing companies. -ar$et ,nformation is

responsib#e for

(olle"ting Real&ime Mar+et 'nformation7 Bids offers #ast sa#e (i.e. most recent trade price and

'o#ume boo$ and other data are gathered 'ia the Trading engine. ,t supports T*SCs automated

and manua# trading modu#es and can process the trades of e&terna# and off@mar$et s+stems.



(olle"ting "ompany 'nformation7 ## information supp#ied b+ the #isted companies are

maintained in the T*S database.

enerating Mar+et Statisti"s7 T*S generates mar$et indices on a rea# time basis. ,t generates

other statistica# information such as rice.

Bro$er Support

Research and *n/uir+7 this modu#e pro'ides bro$ers access to the #oca# Bro$er Support and

T*S databases for en/uiries and research purposes.

ub#ic Order Boo$

Bro$er Order Boo$

The mu#ti@%indo%s en'ironment a##o%s users to simu#taneous#+ 'ie% orders mar$et and trades.

Bro$er Support offers Stoc$ *&change members t%o configurationsD standa#one and mu#ti@user.

Both configurations maintain a database consisting of information generated b+ the T*S Ser'er

and the #oca# s+stem.



)e'e#opment E 5ro%th erformance *'a#uation7

,n this section the o'era## performance of )S* is ana#+ed b+ considering the performance of

number of #isted issues issued capita# mar$et capita#iation turno'er 'o#ume and 'a#ue dai#+

a'erage turno'er 'a#ue initia# pub#ic offerings dai#+ a'erage number of trade dai#+ a'eragetrade 'o#ume and share price inde& etc.

4.1 2isted ,ssues

,n'estment instrument (such as stoc$ shares bonds that is officia##+ #isted (/uoted on a stoc$

e&change for pub#ic trading. Un#isted securities are traded in o'er the counter mar$et or in

a#ternati'e in'estment mar$et. #so ca##ed #isted in'estment or /uoted securit+. 2isted securities

inc#ude stoc$s bonds con'ertib#e bonds preferred stoc$s %arrants rights and options a#though

not a## forms of securities are accepted on a## e&changes.

ear Listed $ssue 0 of "ange

6??8 416 @

6??9 41; ?.>

6?1? 44; >.66?11 ;?1 16.;8

6?16 ;1; 6.>9

Source: (ompiled from different iss%es if monthly re*ie3 Dha+a Sto"+ E,"hange



2008 2009 200 20 2020!00

2!00

"!00

#!00

8!00

0!00

2!00

"!00

0!$%

$!2%

2!&8

2!$9

0 of "ange of Listed $ssues

0 of "ange

ear

0 of "ange

2008 2009 200 20 2020

00

200

%00

"00

&00

#00

"2 "&""&

&0 &&

Listed $ssue

Listed $ssue

ear

+o1 Listed $ssue

5ro%th pattern of )S* #isted securities is ref#ected from the chart. 3rom 6??4 to 6?1? e'er+ +ear

#isted securities has increased in )S*. ,n 6??4 number of #isted securities %as 6;< and in 6?1? it

%as 44;. The gro%th %as highest 1>.>1J in 6??8 and #o%est ?.>J in 6??9. The a'erage

gro%th rate of #isted securities of )S* from 6??4 to 6?1? is 8.8J. So the number of #isted

compan+ is in a gro%ing stage. *ach +ear the number is increasing than pre'ious +ear.



4. -ar$et apita#iation

-ar$et capita#iation is defined as a measurement of the sie of a business enterprise 'a#ue.

-ar$et capita#iation is e/ua# to the share price in secondar+ mar$et mu#tip#ied b+ the number of

shares outstanding for compan+ INL. apita#iation is the therefore the compan+Cs %orthiness in

pub#ic opinion. apita#iation cannot gi'e the actua# 'a#ue of a compan+ but rather a mar$et

estimate of a compan+Cs 'a#ue based on pub#ic percei'ed future prospects economic and

monetar+ conditions @ and the genera# pub#ic is a#%a+s %rong.

ear Market a!itali2ation 0 of "ange

6??> >;9;;

6??8 1?4>99 8.44

6??9 19?668 86.4

6?1? ;?8??< 84.6

6?11 6<1<>1 @6;.41

6?16 64?;;< @8.1;


0 of c"ange of market ca!itali2ation from 3445 to 3463 is s"o'n belo' b) a line c"art



200$ 2008 2009 200 20 202

'"0!00

'20!00

0!00

20!00

"0!00

#0!00

80!00

00!00

%8!""

82!%" 8"!%2

'2&!"

'8!&

0 of "ange in Market a!itali2ation

% of Change

ear

% of Change

200$ 2008 2009 200 20 2020

&00000

000000

&00000

2000000

2&00000

%000000

%&00000

"000000

$&%9&&

0"%$99

90%228

%&0800#

2##$%2"0%&&#

Market a!itali2ation

Market a!itali2ation

ear

Tk $n mn

5ro%th pattern of mar$et capita#iation has sho%n in this chart. )uring 6??4 to 6?1? e'er+ +ear

)S* mar$et capita#iation has increased from the pre'ious +ear. But mar$et capita#iation has

e&ceptiona##+ increased in 6??>. amount %as T$. >;9;; mi##ion and gro%th %as 1.1<J in

6??>. nd in 6??8 it1.1<J b+ a huge amount. 5ro%th rate decreased to 4?.;J from

1.1<94. ,t is a#so ref#ected from the tab#e that mar$et capita#iation of different +ear has

f#uctuate at a #arger percentage.



4.4 Tota# Turno'er in :o#ume

:o#ume of shares traded as a percentage of tota# shares #isted on an e&change during a period

usua##+ either a da+ or a +ear. The same ratio is app#ied to indi'idua# securities and the portfo#ios

of indi'idua# or institutiona# in'estors.

earTotal Turnover in

#olume0 of "ange

6??> 681

6??8 4<?; <6.<<

6??9 >9> >.14

6?1? 1<9>; 116.91

6?11 1<9<> @?.?;

6?16 61<89 6>.8Source: (ompiled from different iss%es if monthly re*ie3 Dha+a Sto"+ E,"hange

0 of c"ange of Total turnover in volume from 3445 to 3463 is s"o'n belo' b) a line c"art



200$ 2008 2009 200 20 202'20!00

0!00

20!00

"0!00

#0!00

80!00

00!00

20!00

#2!## $%!"

2!9

'0!0&

2$!8%

0 of "ange in Turnover #olume

0 of "ange

ear

0 of "ange

200$ 2008 2009 200 20 202

0

&000

0000

&000

20000

2&000

28%"#0&

$9$%

#9$& #9#$

2#89

Total Turnover in #olume

Total Turnover in #olume

ear

#olume

This chart sho%s the tota# turno'er in 'o#ume in )S*. 3rom this tab#e it is ref#ected that tota#

turno'er in 'o#ume has increased 6??; from the pre'ious +ear the amount %as 88?.8?9mn from

<84.?8mn. The gro%th rate of turno'er in 'o#ume of )S* has increased to 68.><J in 6??; and

the 'a#ue decreased in 6??<. gain the 'a#ue has e&ceptiona##+ increased in 6??> amount %as

T$. 681.6 mi##ion and gro%th %as ?.?1J. The tota# turno'er in 'o#ume %as highest in 6?1?

and the 'a#ue %as 1<9>4.;6mn and gro%th rate %as 11.?J and #o%est in @;.4<J 6??<. The

a'erage gro%th rate of tota# turno'er in 'o#ume of )S* is >.1;4.

4.; Tota# Turno'er in :a#ue



The tota# 'a#ue of stoc$ so#d in a +ear di'ided b+ the a'erage 'a#ue of goods he#d in stoc$. This

chec$s that cash is not tied up in stoc$ for too #ong #osing its 'a#ue o'er time.

earTotal Turnover in #alue

7Tk1 Millions80 of "ange

6??> 668<>

6??8 <<>9<; 1?<.89

6??9 14>;?1 16?.8>

6?1? 4??991 1>1.8?

6?11 1;<?916 @<1.?>

6?16 1??1?8; @;.8>Source: (ompiled from different iss%es if monthly re*ie3 Dha+a Sto"+ E,"hange

0 of c"ange of Total turnover in value from 3445 to 3463 is s"o'n belo' b) a line

c"art



200$ 2008 2009 200 20 202

'00!00

'&0!00

0!00

&0!00

00!00

&0!00

200!00

0#!8920!8$

$!80

'#!0$

'%&!8$

0 "ange in Turnover #alue

0 of "ange

ear

0 og "ange

200$ 2008 2009 200 20 2020

&00000

000000

&00000

2000000

2&00000

%000000

%&00000

"000000

"&00000

%228#$##$9#&

"$&%0

"0099%

&#092

0008&

Total Turnover in #alue

Total Turnover in #alue

ear

Turnover #alue

Tab#e ; sho%s the )S* tota# turno'er in 'a#ue. 3rom the abo'e tab#e of the )S* tota# turno'er in

'a#ue %e can see that in 6?1? the tota# turno'er in 'a#ue (T$. 4??9916.<>mn %as highest and in

6??4 it %as #o%est (T$. >?6mn. )uring 6??4 to 6?1? e'er+ +ear )S* tota# turno'er in 'a#ue

has increased from pre'ious +ear. The gro%th rate of turno'er in 'a#ue of )S* has increased in



6??; and decreased in 6??< from >;.1<J to ?.J. gain the 'a#ue e&ceptiona##+ increased to

9<.11J in 6??> and a#so decreased in 6??8. fter 6??8 to 6?1? the 'a#ue increases at a

increasing rate.

4.< )ai#+ 'erage Turno'er :a#ue

)ai#+ a'erage turno'er is ca#cu#ated through di'iding tota# turno'er 'a#ue of the +ear b+ tota#

trading da+s of that +ear.

Tab#e7 )ai#+ 'erage Turno'er :a#ue

earDail) *verage Turnover

7Tk1 Millions8

0 of "ange

6??8 6818

6??9 <?4< 114.;;

6?1? 1<44 1>1.86

6?11 <<46 @;9.;8

6?16 46?< @<.<8


0 of c"ange of Dail) average turnover value from 3449 to 3463 is s"o'n belo' b) a line c"art



2008 2009 200 20 202

'00!00

'&0!00

0!00

&0!00

00!00

&0!00

200!00

"!&&

$!82

'&9!&8

'%#!#8

0 of "ange of Dalil) *vg1 Turnover

0 of "ange

ear

0 of "ange

2008 2009 200 20 2020

2000

"000

#000

8000

0000

2000

"000

#000

8000

288

#0"#

#"%"

##"2

"20#

Dail) *verage Turnover

Dail) *verage Turnover

ear

Tk $n mn

Tab#e sho%s the )ai#+ a'erage turno'er 'a#ue. 3rom the abo'e tab#e %e can see that in 6?1?

dai#+ a'erage turno'er 'a#ue (T$.1<44.?>mn %as highest and in 6??4 it %as #o%est (T$.

199.<?mn. )uring 6??4 to 6?1? e'er+ +ear )S* dai#+ a'erage turno'er 'a#ue has increased

from pre'ious +ear. The gro%th rate of dai#+ a'erage turno'er 'a#ue of )S* has increased in

6??; and decreased in 6??< from 6;.9<J to 1;.;J. gain the 'a#ue e&ceptiona##+ increased to

<9.><J in 6??> and a#so decreased in 6??8. fter 6??8 to 6?1? the 'a#ue increases at a

increasing rate.



4.9 )ai#+ 'erage Trade :o#ume

The a'erage amount of indi'idua# securities traded in a da+ or o'er a specified amount of time.

Trading acti'it+ re#ates to the #i/uidit+ of a securit+D therefore %hen a'erage dai#+ trading

'o#ume is high the stoc$ can be easi#+ traded and has high #i/uidit+. s a resu#t a'erage dai#+trading 'o#ume can ha'e an effect on the price of the securit+.

Tab#e7 )ai#+ 'erage Turno'er in :o#ume

earDail) *vg1 Turnover in

#olume 7million80 of "ange

6??8 19

6??9 6 <8.46

6?1? >? 118.>;

6?11 >6 6.8<

6?16 91 6<.9


0 of c"ange of Dail) *verage Turnover in #olume from 3449 to 3463 is s"o'n belo'

b) a line c"art

2008 2009 200 20 2020!00

20!00

"0!00

#0!00

80!00

00!00

20!00

"0!00

#8!"2

8!$&

2!8#

2#!%9

0 of "ange in Dail) *vg1 Turnover

0 of "ange

ear

0 of "ange



2008 2009 200 20 2020

20

"0

#0

80

00

9

%2

$0 $2

9

Dail) *vg1 Turnover in #olume 7million8

Dail) *vg1 Turnover in #olume 7million8

ear

Trade #olume $n mn

This chart sho%s the dai#+ a'g. trade 'o#ume of )S*. 3rom this tab#e it is ref#ected that dai#+

a'g. trade 'o#ume has increased in e'er+ +ear from 6??4 to 6?1?. The gro%th rate of dai#+ a'g.

trade 'o#ume of )S* has increased to 4.16J in 6??; and the rate decreased to 8.9?J in 6??<.

gain the 'a#ue has e&ceptiona##+ increased in 6??> 'a#ue %as 11.9; mi##ion and gro%th %as

66>.9J. )ai#+ a'g. trade 'o#ume %as highest in 6?1? and the 'a#ue %as <9.<? and #o%est %as

6.;; in 6??4. The a'erage gro%th rate of dai#+ a'g. trade 'o#ume of )S* is >4.?J.

4.> ,nitia# ub#ic Offering

n initia# pub#ic offering (,O referred to simp#+ as an "offering" or "f#otation" is %hen a

compan+ (ca##ed the issuer issues common stoc$ or shares to the pub#ic for the first time. The+

are often issued b+ sma##er +ounger companies see$ing capita# to e&pand but can a#so be done

b+ #arge pri'ate#+@o%ned companies #oo$ing to become pub#ic#+ traded. ,n an ,O the issuer ma+

obtain the assistance of an under%riting firm %hich he#ps it determine %hat t+pe of securit+ to

issue (common or preferred best offering price and time to bring it to mar$et.



Tab#e7 ,nitia# ub#ic Offering

ear +o1 of $PO 0 of "ange

6??> 14

6??8 16 @14.69

6??9 18 ;?.??

6?1? 18 ?.??

6?11 14 @66.66

6?16 1> 61.4


$ssuing $PO from 3445 to 3463 is s"o'n belo' b) a !ie c"art

2007; 14; 15%

2008; 12; 13%

2009; 18; 19%

2010; 18; 19%

15%

2012; 17; 18%

+o1 of $PO



3rom this pie chart it is obser'ed that height number of ,O offered in 6?1? and #o%est number

of ,O offered in 6??4. 3rom the tab#e %e can sa+ that the gro%th rate of ,O has been

f#uctuated during 6??4@6?1?. ,O has e&ceptiona##+ increased in +ear 6??; b+ <<.<>J and

decreased in 6??< and 6??8. There %as a 1??J increase in 6??>. nd in 6??9 and 6?1? the

gro%th rate is be#o% the a'erage gro%th rate of ,O.

4.1? )S* ,nde&

There are three t+pes of inde& ca#cu#ation used in )ha$a Stoc$ *&change. The+ are )S* 5enera#

,nde& )S, ,nde& and )S*@6? ,nde&.

. )S, (a## shares

The a## Share rice ,nde& ()S, comprises a## #isted securities of the e&change %hich has been

ca#cu#ated since Ao'ember ?1 199 ca#cu#ated on the basis of price mo'ement of indi'idua#

stoc$s using ,3 method7 *ar#ier a price a'erage inde& %as in practice %hich %as not perfect.

Tab#e7 )S, (## share rice ,nde&

earDS$ 7*ll S"are Price

$nde8 ear Ended0 of "ange

6??> 6;;.9<

6??8 6?9.; @8.94

6??9 >4>.; <6.68

6?1? <8>>.<< 8.;

6?11 48.94 @<.6<

6?16 ;>>.61 @18.4?




0 of c"ange of DS$ 7all s"ares8 inde from 3445 to 3463 is s"o'n belo' b) a line c"art

200$ 2008 2009 200 20 202

'#0!00

'"0!00

'20!00

0!00

20!00

"0!00

#0!00

80!00

00!00

'8!9"

#2!28

8%!&%

'%#!2#

'8!"0

0 of "ange of DS$

0 of "ange

ear

0 of "ange

200$ 2008 2009 200 20 2020

000

2000

%000

"000

&000

#000

$000

8000

2&%&!9# 2%09!%&

%$"$!&%

#8$$!##

"%8%!9"%&$$!2

DS$ 7*ll S"are Price $nde:8 ear Ended

DS $ 7*ll S"are Price $nde:8 ear Ended

ear

DS$

The abo'e tab#e and graph sho%s the mo'ement of price of )S, ,nde& from +ear 6??; to 6?1?.

,n 6??; the +ear end inde& %as 16>;.?;. e can see from the abo'e graph the gro%th rate ups

and do%n there are no consistencies in the gro%th rate of )S, ,nde&. ,n +ear 6?1? the +ear end



inde& price %as <8>>.<< the highest and #o%est price %ere 16>;.?; in 6??;. The height gro%th

rate %as 91.96J in 6??> and the gro%th rate %ent to a negati'e 'a#ue (@8.94J on#+ in 6??8.

B. )S* 5enera# ,nde&7

)S* genera# inde& %ith a base@inde& of 81>.<6 points started on Ao'ember 6> 6??1. ,t inc#udes

B 5 and A group shares. But the inde& e&c#udes companies of L@categor+ and is ca#cu#ated

on the basis of price mo'ement of indi'idua# stoc$s. The entire mar$et capita#iation e&c#uding

the L@categor+ is ta$en into consideration in deri'ing the genera# inde&.

Tab#e7 )S* 5enera# ,nde&

ear D,E+ 7losing $nde8 0 of "ange

6??> ?1>.61

6??8 6>9;.4 @>.;

6??9 4;;.; <6.6;

6?1? 869?.41 86.>9

6?11 ;6;>.<1 @<.;8

6?16 4619.1 @19.>;


0 of c"ange of DSE general inde from 3445 to 3463 is s"o'n belo' b) a line c"art

200$ 2008 2009 200 20 202

'#0!00

'"0!00

'20!00

0!00

20!00

"0!00

#0!00

80!00

00!00

'$!%&

#2!2&

82!$9

'%#!&8

'9!$&

0 "ange of D,E+

0 of "ange

ear

0 of "ange



200$ 2008 2009 200 20 2020

000

2000

%000

"000

&000

#000

$000

8000

9000

%0$!22$9&!%"

"&%&!&%

8290!"

&2&$!#

"29!%

D,E+ 7losing $nde:8

D,E+ 7losing $nde:8

ear

D,E+

The +ear end inde& price of )S* 5enera# ,nde& ()5*A %as highest in +ear 6?1? %hich is

869?.41. On that +ear the highest inde& price %as 869?.41 %hich %as much higher than the



pre'ious < +ears. The #o%est price of the inde& on 6??4 %as 1?1.>6. The gro%th rate %as

minimum in 6??< and the amount %as @;.8?J and it increases to 8>.4<J in the +ear 6??> %hich

%as the ma&imum gro%th rate.

. )S6?

)S*@6? inde& %as introduced on =anuar+ ?1 6??1. The ,nde& comprises #eading 6? shares %ith

a base inde& of 1???. The criteria ta$en into account in formu#ating the inde& %ere mar$et

capita#iation free f#oat shares in pub#ic hands minimum pa+ment of 1? percent di'idend for the

#ast three consecuti'e +ears and 9; percent trading da+Cs #i/uidit+ in terms of trading during the

#ast si& months. Sub!ecti'e criteria such as good corporate go'ernance regu#ar ho#ding of annua#

genera# meeting and sectored representation %ere the other $e+ factors for becoming e#igib#e for

inc#usion in the ,nde&.

Tab#e7 )S*@ 6? ,nde&

earDSE- 34 $nde 7DS348

losing DS340 of "ange

6??> 648;.8>

6??8 668.>1 @<.6

6??9 6<1.49 16.6

6?1? ;6?4.98 99.1<

6?11 91?. @64.8>

6?16 4>6.;< @11.6?


0 of c"ange of DS34 7ear ended8 from 3445 to 3463 is s"o'n belo' b) a line c"art



200$ 2008 2009 200 20 202

'"0!00

'20!00

0!00

20!00

"0!00

#0!0080!00

00!00

20!00

'#!%2

2!2%

99!#

'2"!8$

'!20

0 of "ange of DSE- 34

( o) *hange

ear

0 of "ange

200$ 2008 2009 200 20 2020

000

2000

%000

"000

&000

#000

2"8&!8$ 2%28!$2#%!"9

&20"!98

%90!%%%"$2!&#

DSE- 34 $nde 7DS348 losing DS34

DSE- 34 $nde 7DS348 losing DS34

ear

DSE- 34

s of )ecember 6?16 )S*@ 6? ,nde& inc#ude fo##o%ing companies7

1. ,s#ami Ban$

6. AB2

. rime Ban$ 4. Southeast Ban$

;. )ha$a Ban$

<. Uttra Ban$

>. Bang#adesh 2amps8. Singer Bang#adesh

9. BTB

1?. -2 (ran



11. 2inde Bang#adesh 2imited

16. S/uare Te&ti#e

1. Be&imco harma14. , 2imited

1;. S/uare harma

1<. -eghna ement1>. pe& Tanner+

18. Bata Shoe

19. -onno eramics6?. 5M Ba## en

,n 6?1 )S* has introduced )S? ,nde& instead of )S6?.

3rom the abo'e tab#e and graph %e can see that )S6? inde& %as height in 6?1? and #o%est %as

in 6??<. The height 'a#ue %as ;6?4.98 and the #o%est 'a#ue %as 1<?9.;1. The height gro%th rate

%as 99.1<J in 6?1? and the #o%est gro%th rate %as @4.?4J in 6??<. fter 6??8 the graph sho%san up%ard trend of )S6? inde&.

)S* Sectora# erformance na#+sis from +ear 6??8 to +ear 6?16

Banks

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend "8!$$ 2#!# 29!# %!% 2"!88

G* #!%% #!"# 2&!2" 0!&0 8!#8

*S %%!&9 %#!%$ %$!$8 "%!#9 %2!



2008 2009 200 20 2020

0

20

%0

"0

&0

#0

"8!$$

2#!#29!# %!%

2"!88

#!%% #!"#

2&!2"

0!& 8!#8

%%!&9%#!%$ %$!$8

"%!#9

%2!

Banks

Di+idend P,E EPS

ear

Dividend/PE/EPS

%inancial $nstitutions

Particularsear

6??8 6??9 6?1? 6?11 6?11

)i'idend 28!2# 2&!%0 %9!%& "#!#9 20!

G* 2&!2# %2!"& "$!2$ 2!& &!9

*S 29!$8 29!$& &8!$2 $2!# %9!2

2008 2009 200 20 2020

0

20

%0

"0

&0

#0

$0

80

28!2# 2&!%0

%9!%&"#!#9

20!2&!2#

%2!"&

"$!2$

2!& &!9

29!$8 29!$&

&8!$2

$2!#

%9!2

%inancial $nstitutions

Dividend P/E EPS

ear

Dividend/PE/EPS



$nsurance

Particulars

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend #!&$ 9!#0 9!%0 2%!$2 9!2

G* 2!8 %!%9 #"!#" 20!%$ 22!2&

*S 2"!%$ 2$!00 2!8& %0!&0 9!$&

2008 2009 200 20 2020

0

20

%0

"0

&0

#0

$0

#!&$9!#0 9!%0

2%!$29!2

2!8

%!%9

#"!#"

20!%$ 22!2&2"!%$2$!00

2!8&

%0!&0

9!$&

$nsurance

Dividend P/E EPS

ear

Dividend/PE/EPS

Mutual %unds

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend %9!&% %2!$# %%!$9 &&!$8 "#!#0

G* 20!%$ 29!0# $!&% #!2" 2!"2

*S %0!0 %0!2 22!98 2!%$ !%#



2008 2009 200 20 2020

0

20

%0

"0

&0

#0

%9!&%

%2!$# %%!$9

&&!$8

"#!#

20!%$

29!0#

$!&%

#!2"

2!"2

%0! %0!2

22!98 2!%$

!%#

Mutual %unds

Dividend P/E EPS

ear

)i'iendG*G*S

%ood ; *llied

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend $!9 $!% %$!$$ %9!9 %9!9

G* #!9% $!29 2$!%0 #!" #!"

*S &#!"& 2%!20 2"!#% %"!8% %"!8%

2008 2009 200 20 2020

20

"0

#0

80

00

20

"0

#0

$!9 $!%

%$!$$ %9!9 %9!2&

#!9% $!292$!%

#!" 20!99

&#!"&

2%!20 2"!#%%"!8%

9!

%ood ; *llied

Dividend P/E EPS

ear

Dividend/PE/EPS



P"armaceuticals

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend %2!0$ "0!#8 0!"& "9!0 &0!#0G* %0!9# 2$!#" %"!2 22!&2 8!#$

*S $0!2 89!"0 #$!&" #&!88 &&!#%

2008 2009 200 20 2020

20

"0

#0

80

00

20

%2!0$"0!#8

0!"&

"9! &0!#

%0!9# 2$!#"%"!2

22!&2 8!#$

$0!2

89!"0

#$!&" #&!88 &&!#%

P"armaceuticals

Dividend P/E EPS

ear

Dividend/PE/EPS

Tetile

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 8!$ 8!8 $!00 "!$0 #!&2

G* %!8& %2!9% &2!"" 22!## $!&0

*S &!%& 2!0# 8!$2 2%!% 2!%9



2008 2009 200 20 2020

0

20

%0

"0

&0

#0

8!$ 8!8

$"!$ #!&2

%!8&

%2!9%

&2!""

22!##$!&

&!%&

2!0#8!$2

2%!% 2!%9

Tetile

Dividend P/E EPS

ear

Dividend/PE/EPS

Engineering

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 20!00 20!#& 2$!8% &%!2" 9!#

G* %0!2" %#!&0 &0!0 2#!"0 9!08

*S 2&!%9 %9!9$ "!$ %9!8% %&!%2

2008 2009 200 20 2020!00

0!00

20!00

%0!00

"0!00

&0!00

#0!00

20 20!#&

2$!8%

&%!2"

9!#

%0!2"%#!&0

&0!0

2#!"0

9!082&!%9

%9!9$ "!$ %9!8%%&!%2

Engineering

Dividend P/E EPS

ear

Dividend/PE/EPS



eramics

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend &!00 %!$& 0!00 9!00 %!00G* "$!80 %9!9$ 0#!8# %0!20 20!#2

*S 8!#0 8!&& 2!8& 20!$0 20!#2

2008 2009 200 20 2020!00

20!00

"0!00

#0!00

80!00

00!00

20!00

&%!$& 0

9%

"$!8%9!9$

0#!8#

%0!220!#28!# 8!&&

2!8&20!$ 20!#2

eramics

Dividend P/E EPS

ear

Dividend/PE/EPS

Tanner)

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend "9!&$ &&!20 $2!&0 ##!00 #8!"0

G* #!"% &!%9 20!## &!#0 !$"

*S 08!8 #$!# $0!#2 8!9% 9&!28



2008 2009 200 20 2020

&0

00

&0

200

2&0

"9!&$ &&!20$2!&0 ##!00 #8!"0

#!"% &!%9 20!## &!# !$"

08!8

#$!# $0!#2

8!9%9&!28

Tanner)

Dividend P/E EPS

ear

Dividend/PE/EPS

Pa!er ; Printing

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend %!8% 2!&0 &!00 &!00 &!00

G* 9!%# 2$!&9 2#!9% "2!2% 29!8&

*S $!$& 9!92 &!2% 9!#" #!"0

2008 2009 200 20 2020

20

"0

#0

80

00

20

"0

%!8%2!&0

&!00 &!00 &!009!%#

2$!&9

2#!9%

"2!2%

29!8&

$!$& 9!92

&!2%9!#" #!"

Pa!er ; Printing

Dividend P/E EPS

ear

Dividend/PE/EPS



<ute

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 0!00 !#$ 2&!00 %!%% 0!00G* 2!& 2$!2% &&!## %2!#" 2%!#2

*S %9!9 "&!#$ "%!2 &2!82 %9!2"

2008 2009 200 20 2020!00

0!00

20!00

%0!00

"0!00

&0!00

#0!00

0 !#$

2&

%!%%0

2!&

2$!2%

&&!##

%2!#"

2%!#2

%9!9

"&!#$"%!2

&2!82

%9!2"

<ute

Dividend P/E EPS

ear

Dividend/PE/EPS

ement

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 9!#9 8!29 "!00 28!00 2$!&0

G* 0!2# &#!90 %%!"" 2!#0 2!8

*S $"!#8 !$9 %0!90 #$!#% &#!%



2008 2009 200 20 2020

0

20

%0

"0

&0

#0

$0

80

9!#9 8!29

"

28 2$!&

0!2#

&#!90

%%!""

2!#0 2!8

$"!#8

!$9

%0!9

#$!#%

&#!%

ement

Dividend P/E EPS

ear

Dividend/PE/EPS

%uel ; Po'er

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 28!00 8!%% 22!&0 2&!2& 20!2&

G* 22!## "&!#& "%!9% 2&!82 8!28

*S 20!80 2!#0 %&!#8 2"!80 9!$

2008 2009 200 20 2020!00

0!00

20!00

%0!00

"0!00

&0!00

28

8!%%

22!&2&!2&

20!2&22!##

"&!#& "%!9%

2&!82

8!28

20!80 2!#0

%&!#8

2"!80

9!$

%uel ; Po'er

Dividend P/E EPS

ear

Dividend/PE/EPS



Service ; &eal State

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 2!&0 8!%% 22!&0 2&!2& 20!2&G* 22!## "&!#& "%!9% 2&!82 8!28

*S 20!80 2!#0 %&!#8 2"!80 9!$

2008 2009 200 20 2020!00

&!00

0!00

&!00

20!00

2&!00

%0!00

%&!00

"0!00

"&!00

&0!00

2!&

8!%%

22!&2&!2&

20!2&22!##

"&!#&"%!9%

2&!82

8!2820!80 2!#0

%&!#8

2"!80

9!$

Service ; &eal State

Dividend P/E EPS

ear

Dividend/Pe/EPS

$T

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 2!&0 9!90 !0 9!00 !#$

G* "#!&2 #0!$ #"!9 %8!9% 22!92

*S 0!%& 9!0" #!9$ $!9 0!2"



2008 2009 200 20 2020!00

0!00

20!00

%0!00

"0!00

&0!00

#0!00

$0!00

2!&09!90 !0 9!00

!#$

"#!&2

#0!$#"!9

%8!9%

22!92

0!%& 9!0" #!9$ $!90!2"

$T

Dividend P/E EPS

ear

Dividend/PE/EPS

Telecommunication

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend #0!00 20!00 $!&0

G* 8"!8& 20!%& 20!#2 2!9

*S 22!0 0!8& $9!28 %2!#"

2008 2009 200 20 2020

20"0

#0

80

00

20

"0

#0

20 $!&

8"!8&

20!%& 20!#22!9

22!0

0!8&

$9!28

%2!#"

Telecommunication

Dividend P/E EPS

ear

Dividend/PE/EPS



Travel ; Leasure

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 22!&0 22!&0 &!00 0!00 2!#$G* #&!"& 2%!0$ 2&!%#

*S &!0% 9!$2 22!09

2008 2009 200 20 2020!00

0!00

20!00

%0!00"0!00

&0!00

#0!00

$0!00

22!&0 22!&0

&!000!00

2!#$

#&!"&

2%!0$ 2&!%#

&!0%9!$2

22!09

Travel ; Leasure

Dividend P/E EPS

ear

Dividend/PE/EPS

Miscellaneous

Particular

s

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 2$!&0 %!2$ "0!#$ %$!22 %#!

G* %"!"% 28!8& 9!&" 8!02 &!8"

*S #!# 2&!#0 #$!99 "9!0 %0!20



2008 2009 200 20 2020!00

20!00

"0!00

#0!00

80!00

00!00

20!00

"0!00

#0!00

80!00

2$!& %!2$"0!#$ %$!22 %#!%"!"% 28!8&9!&"

8!02 &!8"

#!#

2&!#0

#$!99

"9!0

%0!20

Miscellaneous

Dividend P/E EPS

ear

Dividend/PE/EPS

Market P/E

Particularsear

6??8 6??9 6?1? 6?11 6?16

-ar$et G* 18.46 6;.<; 69.1< 1.<8 16.?>

2008 2009 200 20 2020

0

20

%0

"0

8!"2

2&!#&29!#

%!#8 2!0$

Market P/E

Market P/E

ear

Market P/E



Overall Market

Particulars

ear

6??8 6??9 6?1? 6?11 6?16

)i'idend 2!&$ 2%!%2 %&!&8 %$!%& %0!&$

G* 8!"2 2&!#& 29!# %!#8 2!0$

*S %$!2 "0!2 "#!&0 "9!&0 "!0&

3449 344= 3464 3466 34634

64

34

>4

?4

@4

A4

361@53>1>3

>@1@9>51>@

>41@5

691?3

3@1A@3=16A

6>1A9 63145

>5163?4136

?A1@?=1@

?614@

Overall Market

Dividend P/E EPS

ear

Dividend/PE/EPS

performance evaluation of dhaka stock exchange

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