Stocks
U.S. Stock Indices in the Green on the Past Week
In a remarkable turnaround, U.S. stock indexes witnessed their most substantial weekly gains of 2023, effectively reversing a recent downturn. Just a week after the S&P 500 and the NASDAQ entered correction territory, both indices experienced significant recoveries. The NASDAQ saw a remarkable surge of 6.6%, while the S&P 500 and the Dow recorded gains of 5.9% and 5.1%, respectively.
The preceding month, however, had marked a challenging period for U.S. stock markets, as they registered declines for the third consecutive month in October. The Dow slipped by 1.4%, the S&P 500 by 2.2%, and the NASDAQ by 2.8%. These results represented the first three-month losing streak for stocks since early 2020. Notably, the S&P 500’s closing level on October 31 was 8.6% below its year-to-date peak attained on July 31, reflecting the turbulence and uncertainties present in the market during that timeframe.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 320 points, reaching a closing value of 13,798 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 57 points to settle at 4,415 points. Meanwhile, DJIA Index experienced a notable hike, rising by 222 points during the week and concluding at 34,283 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a slight gain of 22 points to reach 2,515 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable hike of 55 points, ending the week at 1,705 points.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, December 7, ended with price Index hikes & turnover drops. This information is known from DSE sources.
450 crore 20 lakh shares were traded on this day. 78 crore 75 lakh less trading was done in DSE today compared to the previous workday, 6 December, Shares worth Tk 528 crores 95 lakh shares were traded last time, Wednesday.
The benchmark DSEX added 2.08 points or 6,252 The Shariah-based index DSES gained 1.08 points or 1,360, and the blue-chip index DS30 increased by 2.45 points or 2,115.
Of the issues traded, 58 advanced, 92 declined and 160 remained unchanged.
SK Trims & Industries Limited ranked top gainer on DSE, the share price increased by Tk 3.10 paisa or 9.84 percent. On this day, the share was last traded at Tk 34.60 paisa.
Evince Textiles Limited ranked top loser on the DSE, the share price dropped by Tk 0.50 paisa or 4.76 percent. On this day, the share was last traded at Tk 10.00 paisa.
DSE topped on trade is Central Pharmaceuticals Limited 25 crore 70 lakh takas of shares of the company have been traded.
A total of 53 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 56 lakh 46 thousand 569 shares of the companies were traded. The financial value of which is 28 crore 19 lakh taka.
One of the Listed companies, Energypac Power Generation Limited has recommended 5% Cash Dividend only for General Shareholders (excluding Sponsors and Directors) for the year ended June 30, 2023. Additionally, The Sponsors and Directors hold 11 crore 1 lakh 79 thousand 705 shares out of total 19 crore 1 lakh 63 thousand 216 shares of the company and Cash Dividend payable to the General Shareholders is Tk. 3 crore 99 lakh 91 thousand 756.
In terms of financial performance, The Company has further informed Consolidated EPS loss of Tk. 2.36 for the year ended June 30, 2023. The Company has also reported (Consolidated), NAV per share (with revaluation) of Tk. 43.18 (Separate), NAV per share (without revaluation) of Tk. 31.28 (Separate).
The Annual General Meeting (AGM) of the company will be taking place on December 31, through the digital platform. The record date for this has been fixed at December 27.
One of the listed companies, Confidence Cement Limited discloses its financial reports for the first quarter, (July-September 23).
The company’s Consolidated earnings per share (EPS) of Tk 2.27 paisa in Q1 of the current financial year (July-September 23). Consolidated EPS of Tk 1.60 paisa (restated) during the same period last year. Consolidated NAV per share was Tk. 72.17 as of September 30, 2023.
