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 Exchange DSE, Bourse on the first working day of the week, 5th May, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
817 crore 76 lakh taka shares were traded on this day. 107 crore 13 lakh more tradings were done in DSE today compared to the previous workday, 2nd May , Shares worth Tk 710 crores 62 lakh shares were traded last time, Thursday.
The benchmark DSEX added 76.41 points or 5,692 The Shariah-based index DSES gained 18.55 points or 1,250, and the blue-chip index DS30 increased by 25.59 points or 2,033.
Of the issues traded, 259 advanced, 98 declined and 44 remained unchanged.
Far East Knitting & Dyeing Limited ranked top gainer on DSE, the share price increased by Tk 1.50 paisa or 10.00 percent. On this day, the share was last traded at Tk 16.50 paisa.
ADN Telecom Limuited ranked top loser on the DSE, the share price dropped by Tk 3.20 paisa or 3 percent. On this day, the share was last traded at Tk 103.50 paisa.
DSE topped on trade is Orion Infusion Limited 41 crore 5 lakh takas of company shares have been traded.
A total of 34 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 31 lakh 74 thousand 321 shares of the companies were traded. The financial value of which is 36 crore 66 lakh taka
One of the Listed companies, AB Bank PLC has recommended 2% Bonus Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported Consolidated EPS of Tk. 1.02 for the year ended December 31, 2023. NAV per share of Tk. 29.58 paisa.
The Annual General Meeting (AGM) of the company will be held on June 12, through the digital platform. The record date for this has been fixed at May 26.
Q1 Financials: The company’s Consolidated earnings per share EPS was Tk. 0.12 for January – March 2024 as against Consolidated EPS of Tk 0.13 (restated) for January – March 2023. As of March 31, 2024, Consolidated net asset value (NAVPS) was Tk 29.67 paisa.
The review of the U.S. stock markets highlights a mixed performance across different indices during the week. While the Nasdaq Composite recorded a significant hike, reaching a closing value of 16,156 points, the S&P 500 index showed a negative trend despite adding 28 points.
Conversely, the DJIA Index experienced a notable hike, concluding at 38,675 points after a week of gains. The Russell 3000 Index saw a modest gain, while the Russell 2000 Index demonstrated a notable increase. Overall, the week witnessed varied movements in the stock market, with certain indices showing resilience and others experiencing fluctuations.
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 229 points, reaching a closing value of 16,156 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, adding 28 points to settle at 5,127 points. Meanwhile, DJIA Index experienced a notable hike, adding 436 points during the week and concluding at 38,675 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 18 points to reach 2,934 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable gain of 33 points, ending the week at 2,035 points.
