A SHORT VIEW

ON
INDICES OF DHAKA STOCK EXCHANGE

SUBMITTED TO:
SHABBIR AHMAD
PROFESSOR
DEPARTMENT OF FINANCE
UNIVERSITY OF DHAKA

SUBMITTED BY:

Department of Finance
University of Dhaka

1
 1.0 Major indices of DSE

DSE has three major indices to reflect market behavior. They are namely;
• DSE- 20 Index.
• DSE General Index (A, B, G & N).
• DSI (All Share Price Index).
•

1.1 DSE-20 Index

The DSE-20 index was introduced on January 01; 2001.The DSE-20 index has a basis of
1000 base index. This index is introduced to reflect the behavior of 20 blue chips
companies taken from different industries and having a good track of paying high
dividend and remaining under the A category companies. This index has a closing value
as on 07 April 7, 2009 of 1872.35979.
The criteria tables taken into account in formality the separate index
were minimum market capitalization worth tk.2oo million minimum 20
percent share in public hands minimum payment of 10 percent
dividend for the last 3 consecutive years and 95 percent trading days
in the last six month. Subjective criteria such as good corporate
governance, regular holding of annual general meeting and sectoral
representative were the other key qualification for becoming eligible
for inclusion in the DSE 20.

1.2 Main features of DSE-20

Index

 The DSE-20 index was introduced on January 01; 2001.

 The DSE-20 index has a basis of 1000 base index.
 Reflects the behavior of 20 blue chips companies taken from different industries
and having a good track of paying high dividend.
 Does not reflect the behavior of the overall market.

DSE-20 index includes the following 20 blue chips listed company : ACI Limited,
A.M.C.L Pran, Apex Tannery Ltd., Beximco Pharmaceuticals Ltd., BATBC, BOC
Bangladesh Ltd., Bata Shoe Company (Bangladesh) Ltd., Bangladesh Lamps Ltd., Dhaka
Bank Ltd.,GQ Ball Pen Industries Ltd., Islami Bank Bangladesh Ltd., Meghna Cement
Mills Limited,Monno Ceramic Industries Ltd.,National Bank Ltd., Prime Bank
Ltd.,Southeast Bank Ltd,Singer Bangladesh Ltd., Square Pharmaceuticals Ltd.,Square
Textile Ltd.,Uttara finance.

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1.3 A graphical view of last 30
days DSE-20 index

1.4 DSE General Index

DSE General Index, the benchmark price barometer was introduced on November 27,
2001, with a base index of 817.62 points. The index excludes the companies of Z
categories and is calculated on the basis of price movement of individual stocks. This
index is a value weighted index in nature. The entire market capitalization excluding Z
category, is taken into consideration in deriving the general index. This is the most used
index used by all types of investors to reflect the behavior of the market. This index has a
closing value as on 07 April 7, 2009 of 2438.44856.
1.5 Main features of DSE
general Index

 introduced on November 27, 2001,

 Has a base index of 817.62 points.
 The index excludes the companies of Z categories.
 This is calculated on the basis of price movement of individual stocks.

3
  This index is a value weighted index in nature.
 The entire market capitalization excluding Z category, is taken into consideration
in deriving the general index.
 This is the most used index used by all types of investors to reflect the behavior of
the market.
1.6 Last 30 days DSE general
index

1.7 DSI (All Share price Index)

Another index of DSE is All Share Price Index which was reintroduced on March 28,
2005. This index consists of all the companies listed with the DSE, or more specifically,
Z category share are also included in deriving the DSE All Share Price Index.

4
1.8 Last 30 days DSE general
index

2.0 Differences between the indices

Particular DSI (all DGEN (A, B, G & DS20

shares) N)

1.Compositi DSI consists of DGEN consists of DS20 consists

on all listed only A, B, G,N of only 20 Blue
Securities categories of chip categories
listed Securities of listed
Securities

2.Base 350 (as on 01- 817.63 (as on 24- 1000 ( as on

Index 11-1993) 11-2001) 01-01-01)

3.Current 2024.36427 2438.44856 1872.35979

Index

5
4.Percentag 578.29% 298% 187%
e increase
from Base
Index

3.0 Construction of DSE general price index

The algorithm of index calculation according to IOSCO index methodology are

following:

Yesterday's Closing Index X Closing M.Cap

Closing Index = --------------------------------------------------------------
Opening M.Cap(Yesterday)

Closing M.Cap = ∑ (TCP X Total no. of indexed shares)

Opening M.Cap = ∑ (YCP X Total no. of indexed shares)

According to this formula of calculating DSE general index we are choosing ten listed
shares of DSE and taking their trade information from 22nd march to 31st march, 2009.
Here we have taken the base index for March 22, 2009 is 100. We cannot take the
yesterday index in this regard because yesterday DGEN index has calculated based on all
the existing traded shares in DSE. The following ten are the listed company:

Name of the company No. of outstanding

share
AB BANK LIMITED 22,297,854
THE CITY BANK LIMITED. 13,662,000
INTERNATIONAL FINANCE INVESTMENT AND 13,414,314
COMMERCE BANK LIMITED
ISLAMI BANK BANGLADESH LIMITED. 47,520,000
NATIONAL BANK LIMITED. 18,727,213
PUBALI BANK LIMITD. 29,400,000
RUPALI BANK LIMITED. 12,500,000
UTTARA BANK LIMITED. 7,986,592
ICB ISLAMIC BANK LIMITED 6,647,023
IDLC FINANCE LIMITED 2,500,000

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After calculating we have got the following results:
Date Index

22-03-2009 102.59

23-03-2009 104.2194817

24-03-2009 98.39587467

25-03-2009 96.45197305

29-03-2009 90.08157921

30-03-2009 89.70774722

31-03-2009 88.22230562

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8
 Appendix

22-03-2009
Name of the company Tcp Ycp No. of M. Cap on M. Cap on
outstandin Tcp Ycp
g share
AB BANK LIMITED 581 556 22,297,854 1295505317 123976068
4 24
THE CITY BANK LIMITED. 407 409.50 13,662,000 5560434000 5594589000
INTERNATIONAL FINANCE INVESTMENT 579.75 559.25 13,414,314 7776948542 7501955105
AND COMMERCE BANK LIMITED
ISLAMI BANK BANGLADESH LIMITED. 462.25 453.50 47,520,000 2196612000 215503200
0 00
NATIONAL BANK LIMITED. 682.75 670.50 18,727,213 1278600467 125565963
6 17
PUBALI BANK LIMITD. 395 371.75 29,400,000 1161300000 109294500
0 00
RUPALI BANK LIMITED. 664.75 663.75 12,500,000 8309375000 8296875000
UTTARA BANK LIMITED. 1,869.50 1,803.25 7,986,592 1493093374 144018220
4 24
ICB ISLAMIC BANK LIMITED 879.75 865 6,647,023 5847718484 5749674895
IDLC FINANCE LIMITED 1,636.25 1,674 2,500,000 4090625000 4185000000
1.05836E+1 1.03164E+1
1 1
22-03-2009 Yesterday’s 100
G. index
Today’s
Closing G. 102.59
index

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10
23-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
1392500982 129550531
AB BANK LIMITED 624.50 581 22,297,854 3 74
THE CITY BANK LIMITED. 405.25 407 13,662,000 5536525500 5560434000
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 598.50 579.75 13,414,314 8028466929 7776948542
2182356000 219661200
ISLAMI BANK BANGLADESH LIMITED. 459.25 462.25 47,520,000 0 00
1278600467 125565963
NATIONAL BANK LIMITED. 682.75 670.50 18,727,213 6 17
1189965000 116130000
PUBALI BANK LIMITD. 404.75 395 29,400,000 0 00
RUPALI BANK LIMITED. 657.50 664.75 12,500,000 8218750000 8309375000
1515256167 149309337
UTTARA BANK LIMITED. 1,897.25 1,869.50 7,986,592 2 44
ICB ISLAMIC BANK LIMITED 873.50 879.75 6,647,023 5806174591 5847718484
IDLC FINANCE LIMITED 1,643 1,636.25 2,500,000 4107500000 4090625000
1.07284E+1 1.05607E+1
1 1
Yesterday’s
G. index 102.59
Today’s
Closing G. 104.21948
index 17

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12
24-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
1348462720 139250098
AB BANK LIMITED 604.75 624.50 22,297,854 7 23
THE CITY BANK LIMITED. 395 405.25 13,662,000 5396490000 5536525500
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 575.75 598.50 13,414,314 7723291286 8028466929
2208492000 218235600
ISLAMI BANK BANGLADESH LIMITED. 464.75 459.25 47,520,000 0 00
127860046
NATIONAL BANK LIMITED. 438.75 682.75 18,727,213 8216564704 76
1176000000 118996500
PUBALI BANK LIMITD. 400 404.75 29,400,000 0 00
RUPALI BANK LIMITED. 658.25 657.50 12,500,000 8228125000 8218750000
1468334939 151525616
UTTARA BANK LIMITED. 1,838.50 1,897.25 7,986,592 2 72
ICB ISLAMIC BANK LIMITED 843.25 873.50 6,647,023 5605102145 5806174591
IDLC FINANCE LIMITED 1,642.75 1,643 2,500,000 4106875000 4107500000
1.01289E+1 1.07284E+1
1 1
Yesterday’s 104.21948
G. index 17
Today’s
Closing G. 98.395874
index 67

13
14
25-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
1315015939 134846272
AB BANK LIMITED 589.75 604.75 22,297,854 7 07
THE CITY BANK LIMITED. 389.25 395 13,662,000 5317933500 5396490000
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 563.50 575.75 13,414,314 7558965939 7723291286
2182356000 220849200
ISLAMI BANK BANGLADESH LIMITED. 459.25 464.75 47,520,000 0 00
NATIONAL BANK LIMITED. 424.75 438.75 18,727,213 7954383722 8216564704
1145130000 117600000
PUBALI BANK LIMITD. 389.50 400 29,400,000 0 00
RUPALI BANK LIMITED. 636 658.25 12,500,000 7950000000 8228125000
1439183878 146833493
UTTARA BANK LIMITED. 1,802 1,838.50 7,986,592 4 92
ICB ISLAMIC BANK LIMITED 852 843.25 6,647,023 5663263596 5605102145
IDLC FINANCE LIMITED 1,610.75 1,642.75 2,500,000 4026875000 4106875000
9928827993 1.01289E+1
7 1
Yesterday’s 98.395874
G. index 67
Today’s
Closing G. 96.451973
index 05

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29-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
131501593
AB BANK LIMITED 447 589.75 22,297,854 9967140738 97
THE CITY BANK LIMITED. 376.75 389.25 13,662,000 5147158500 5317933500
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 540.50 563.50 13,414,314 7250436717 7558965939
2108700000 218235600
ISLAMI BANK BANGLADESH LIMITED. 443.75 459.25 47,520,000 0 00
NATIONAL BANK LIMITED. 402 424.75 18,727,213 7528339626 7954383722
1125285000 114513000
PUBALI BANK LIMITD. 382.75 389.50 29,400,000 0 00
RUPALI BANK LIMITED. 591.50 636 12,500,000 7393750000 7950000000
1369700528 143918387
UTTARA BANK LIMITED. 1,715 1,802 7,986,592 0 84
ICB ISLAMIC BANK LIMITED 827.25 852 6,647,023 5498749777 5663263596
IDLC FINANCE LIMITED 1,563.25 1,610.75 2,500,000 3908125000 4026875000
9273055563 992882799
8 37
Yesterday ‘s 96.451973
G. index 05
Today’s
Closing G. 90.081579
index 21

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30-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
AB BANK LIMITED 431.25 447 22,297,854 9615949538 9967140738
THE CITY BANK LIMITED. 370.50 376.75 13,662,000 5061771000 5147158500
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 518.25 540.50 13,414,314 6951968231 7250436717
2120580000 210870000
ISLAMI BANK BANGLADESH LIMITED. 446.25 443.75 47,520,000 0 00
NATIONAL BANK LIMITED. 389.25 402 18,727,213 7289567660 7528339626
1133370000 112528500
PUBALI BANK LIMITD. 385.50 382.75 29,400,000 0 00
RUPALI BANK LIMITED. 680 591.50 12,500,000 8500000000 7393750000
1296223881 136970052
UTTARA BANK LIMITED. 1,623 1,715 7,986,592 6 80
ICB ISLAMIC BANK LIMITED 819.50 827.25 6,647,023 5447235349 5498749777
IDLC FINANCE LIMITED 1,591 1,563.25 2,500,000 3977500000 3908125000
9234573059 927305556
3 38
Yesterday’s 90.081579
G. index 21
Today’s
Closing G. 89.707747
index 22

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19
31-03-2009
No. of
outstandin M. Cap on M. Cap on
Name of the company Tcp Ycp g share Tcp Ycp
AB BANK LIMITED 430.75 431.25 22,297,854 9604800611 9615949538
THE CITY BANK LIMITED. 357.50 370.50 13,662,000 4884165000 5061771000
INTERNATIONAL FINANCE INVESTMENT
AND COMMERCE BANK LIMITED 507 518.25 13,414,314 6801057198 6951968231
2096820000 212058000
ISLAMI BANK BANGLADESH LIMITED. 441.25 446.25 47,520,000 0 00
NATIONAL BANK LIMITED. 398.25 389.25 18,727,213 7458112577 7289567660
1128225000 113337000
PUBALI BANK LIMITD. 383.75 385.50 29,400,000 0 00
RUPALI BANK LIMITED. 664 680 12,500,000 8300000000 8500000000
1296223881 136970052
UTTARA BANK LIMITED. 1,623 1,715 7,986,592 6 80
ICB ISLAMIC BANK LIMITED 803.50 819.50 6,647,023 5340882981 5447235349
IDLC FINANCE LIMITED 1,575 1,591 2,500,000 3937500000 3977500000
9153920718 930804970
2 57
Yesterday’s 89.707747
G. index 22
Today’s
Closing G. 88.222305
index 62

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