Stocks
Weekly US Stock Market Report Shows Diverse Performance
In a surprising turn of events, US stock indexes failed to gain momentum despite positive factors such as an ongoing earnings season and a robust quarterly GDP report. The S&P 500, NASDAQ, and Dow Jones Industrial Average all faced significant setbacks, with each index experiencing a decline of more than 2% throughout the week. This marked the sixth week of losses in the last eight for the S&P 500, highlighting a challenging period for investors.
One of the most notable developments was the NASDAQ’s sharp 2% decline on Wednesday. This drop pushed the index more than 10% below its recent peak, which was achieved on July 19. Such a decrease placed the NASDAQ into what’s known as a “correction” territory, signifying a notable market adjustment. In a disheartening turn, the S&P 500 also entered correction territory on Friday after falling over 10% below its peak on July 31. Both of these major indexes saw their values plummet to levels not seen since May, sparking concerns and uncertainties among market participants.
The string of declines in the market has raised questions about the potential impact of various factors, including global economic conditions, inflation worries, and the ongoing pandemic. Investors and analysts alike are closely monitoring these developments, seeking insights into the future trajectory of the U.S. stock market.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent drop of 340 points, reaching a closing value of 12,643 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, losing 107 points to settle at 4,117 points. Meanwhile, DJIA Index experienced a notable shed, dived by 710 points during the week and concluding at 32,417 points after a week of loss.
In contrast, Russell 3000 Index saw a drop in week performance, with a slight loss of 63 points to reach 2,351 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable drop of 44 points, ending the week at 1,636 points.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
