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  • Last Update : 04:24 pm

DSE launches new index to attract foreign investment

  • Published at 10:02 pm December 30th, 2019
web-DSE-File photo of Dhaka Stock Exchange Limited
File photo of Dhaka Stock Exchange Limited Mehedi Hasan/Dhaka Tribune

Stock investors will be able to trade on the new index from Tuesday

The country’s prime bourse, Dhaka Stock Exchange (DSE), on Monday launched a new index called CNI-DSE Select Index (CDSET) to attract foreign portfolio investment in the country.

Stock investors will be able to trade on the new index from Tuesday. 

The base year of the index will be counted from December 31, 2015 and the base value will be 1,000 points with 40 companies. The list of companies will be renewed every six months.

The index is jointly designed and developed by Shenzhen Securities Information Company Limited and Dhaka Stock Exchange as a part of technical collaboration plan between Dhaka bourse and Chinese strategic partner. 

DSE Chairman Professor Abul Hashem at the inauguration program of the index said: “In the spirit of mutual development cooperation between Dhaka Stock Exchange and Shenzhen Stock Exchange today we have launched the CNI-DSE Select Index which will represent the largest percentage of capitalization of the investable universe of Bangladesh Capital Market.”

“We have also planned to launch Size-Based Indices like CNI-DSE Large-Cap Index, CNI-DSE Mid-Cap Index and CNI-DSE Small-Cap in the coming days,” he said. 

He also said, “This collaborative action is a huge step forward with our Strategic Investors. The progress we have made together is remarkable that created new opportunities for both of us." 

The Chinese consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange has been the strategic partner of DSE since May 2018.

Currently, DSE has three indices — DSE broad index, DSE30 index and DSE Shariah Index.

The new index would be displayed in the Shenzhen Stock Exchange to make foreign investors more informed about the country’s stock market.

Abdul Matin Patwary Managing Director (In-charge) of Dhaka bourse said DSE planned to launch size-based indices based on DSE Large-Cap Constituents, DSE Mid-Cap Constituents and DSE Small-Cap Constituents.

He said the DSE officially launched CNI-DSE Select Index which would represent the largest percentage of capitalization of the investable universe of Bangladesh Capital Market. 

The index comprises 40 large companies. Fundamentals and liquidity, as well as total market capitalization are considered for the constituents screening while free float capitalization is used for index price calculation.

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