BSS, Dhaka :
Chittagong Stock Exchange (CSE) is introducing Sunday two new indices – CSE 50 and CSE All Shariah Index. The base point of the two indices will be 1000.
Top 50 of the companies listed with CSE have been selected for the CSE 50 index on the basis of their market capital, liquidity position and financial viability. Initially, the 50 companies include 13 broad sectors of the economy.
The CSE authorities will review the performance of the companies every six months to keep the index updated.
The CSE All Shariah Index includes 63 Shariah compliant stocks from 17 broad sectors. The stock exchange authorities reviewed past performance of the all CSE listed stocks to prepare the index. The index will also be updated every six months after reviewing the performance of the existing scrips.
Unlike Shariah-based DSES index of DSE, the CSE Shariah index will have access for all. Investors, individual or institutions required to pay fees to know the companies under the DSES index – launched on January 20 this year.
India Index Services and Products Limited (IISL), a subsidiary of the National Stock Exchange of India designed and developed the CSE-50 when another Indian company Taqwa Advisory and Shariah Investment Solutions developed the CSE All Shariah Index.
CSE authorities expect that the two new indices would reflect better the position of large and liquid companies across sectors, and thus would assist in market development by attracting more local foreign players.
