Fortune Shoes replaces Bank Asia in CSE-50 index
The Chittagong Stock Exchange (CSE) has made the semi-annual revision of its selective 50 scrips index CSE-50 and Fortune Shoes Ltd has replaced Bank Asia Ltd as a constituent.
The change would be effective from 20 October, said the port city bourse in a statement on Monday.
The updated list for the next six months includes 22 banks – Al-Arafah Islami, Brac, Dhaka Bank, Dutch-Bangla, Eastern, Exim, First Security Islami, IFIC, Islami Bank, Jamuna, Mercantile, National, NCC, One Bank, Prime, Shahjalal Islami, South East, Standard, City, Premier, United Commercial, and Uttara Bank.
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From the energy and power sector, MJL Bangladesh, Padma Oil, Shahjibazar Power, Summit Power, Titas Gas, and United Power are the constituents of the selective index.
BSRM Steels, BSRM Ltd, BBS Cables Ltd, GPH Ispat, Ifad Autos, and Singer Bangladesh are the scrips from the engineering sector.
Bangladesh Submarine Cable Company, Grameenphone, and Robi Axiata are telecommunication companies in CSE-50.
In the pharmaceuticals sector, ACI Ltd, Beacon Pharmaceuticals, Beximco Pharma, Orion Pharma, Square Pharma, and Acme Laboratories are in CSE-50.
Confidence Cement and LafargeHolcim Bangladesh are the cement producers on the list.
LankaBangla Finance Ltd is the lone non-bank financial institution on the CSE-50 list.
Also, Beximco, BAT Bangladesh, Delta Life, and Fortune Shoes Ltd are the lone representatives of their respective sectors – miscellaneous, food and allied, insurance, and footwear.
As of 30 June, CSE-50 contributes 57.07% of the total market capitalisation in the CSE, while it is 60.15% based on free-float market capitalisation.
The port city bourse also informed that the selective 50 scrips contributed 41.43% of the CSE turnover in the first six months of 2022.
Selective indices are built based on listed companies' business performance and also the secondary market stock turnover of their scrips to offer investors a shortlist of investment-grade liquid stocks.
Having enough buyers and sellers onboard is important to large funds before investing in a stock.
