Stocks
US Stock Markets Witness Weekly Upswing
The major US stock indexes surged by approximately 2% to 3% during the week, surpassing the losses incurred in the previous week. Notably, the S&P 500 and NASDAQ attained their highest levels in the past 15 months. The NASDAQ experienced a remarkable gain of over 3%, marking its most impressive weekly performance in four months.
The stock market received a significant boost from a midweek report on U.S. inflation, which revealed that the Consumer Price Index fell to an annual rate of 3.0% in June. This is the lowest level recorded since March 2021, demonstrating a consistent decline from its peak of 9.1% in June 2022, which marked a four-decade high. Furthermore, another report published on Thursday indicated a decrease in inflationary pressures at the wholesale level.
The index that tracks investors’ expectations of short-term U.S. stock market volatility also witnessed a decline of approximately 10% throughout the week. After a previous increase, the Cboe Volatility Index retreated to a level slightly above its multi-year low achieved on June 22.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 453 points, reaching a closing value of 14,113 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 107 points to settle at 4,505 points. Meanwhile, DJIA Index experienced a notable surge, adding by 775 points during the week and concluding at 34,509 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a hike of 66 points to reach 2,591 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 67 points, ending the week at a steady 1,931 points.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
