Amidst the ongoing earnings season, both the Dow and the S&P 500 notched their second consecutive weekly gains, while the NASDAQ experienced a slight dip. As of Friday, the second week of earnings reporting, approximately 75% of S&P 500 companies had surpassed analysts’ expectations for quarterly net income, as reported by FactSet.
On Friday, the Dow recorded a marginal 0.01% gain, securing its impressive 10-day winning streak. The index’s remarkable performance can be attributed to strong quarterly earnings from several of its 30-component stocks. Over the course of these ten days, the Dow has surged by more than 4% overall, indicating a notable uptrend.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a massive gain of 226 points, reaching a closing value of 14,316 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 46 points to settle at 4,582 points. Meanwhile, DJIA Index experienced a notable surge, adding by 232 points during the week and concluding at 35,459 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a hike of 25 points to reach 2,636 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 21 points, ending the week at a steady 1,981 points.
Bourse Performed Mixed
Dhaka Stock Exchange DSE, Bourse on the second working day of the week, September 25, ended with price Index mixed & turnover drops. This information is known from DSE sources.
500 crores 74 lakh shares were traded on this day. 59 crore 46 lakh less trading was done in DSE today compared to the previous workday, 24 September, Shares worth Tk 500 crores 74 lakh shares were traded last time, Sunday.
The benchmark DSEX added 1.84 points or 6,282 The Shariah-based index DSES gained 0.64 points or 1,359, and the blue-chip index DS30 decreased by 1.54 points or 2,135.
Of the issues traded, 82 advanced, 62 declined and 156 remained unchanged.
Khan Brothers PP Woven Bag Industries Limited ranked top gainer on DSE, the share price increased by Tk 2.20 paisa or 8.98 percent. On this day, the share was last traded at Tk 26.70 paisa
Legacy Footwear Ltd ranked top loser on the DSE, the share price dropped by Tk 3.50 paisa or 4.31 percent. On this day, the share was last traded at Tk 77.70 paisa.
DSE topped on trade is Union Insurance Company Ltd 28 crore 66 lakh takas of shares of the company have been traded.
A total of 70 companies’ shares were traded in the Block on Dhaka Stock Exchange, 80 lakh 63 thousand 218 shares of the companies were traded. The financial value of which is 49 crore 96 lakh taka.
BSEC Commissioner Urges Investment in Stock Market for Financial Growth
Dr. Rumana Islam, Commissioner of the Bangladesh Securities and Exchange Commission (BSEC), has emphasized the need for individuals to invest in the stock market rather than keeping their money stagnant in banks for a year. She pointed out that investing in the capital market is a viable option. Many people consider investing in land, gold, or depositing funds in savings accounts, which she discouraged.
Dr. Rumana made these remarks during a training event for students of Dhaka University’s Law Department held on Sunday, September 24. The event took place at the Kazi Motahar Hossain Building on the university campus and was organized by the DSE Training Academy. Dr. A.T.M. Tariquzzaman, Managing Director of Dhaka Stock Exchange (DSE), was a special guest at the training session.
Dr. Rumana, addressing the students, mentioned that by the year 2041, Bangladesh envisions becoming a highly developed nation, with a significant role for the capital market to play in its economic landscape.
Encouraging students to consider investment in the stock market as a means to grow their savings, Dr. Rumana Islam, Commissioner of the Bangladesh Securities and Exchange Commission (BSEC), highlighted the importance of proactively managing one’s financial future. She advised students to prioritize saving before spending, emphasizing that now is the time to shape their future. Dr. Rumana stressed the significance of making wise investment decisions, stating that if she had the capability to invest one lakh taka, she would risk only fifty thousand taka. In this case, the risk of 50 lakh takas cannot be taken.
During the event, Dr. A.T.M. Tariquzzaman, Managing Director of the Dhaka Stock Exchange (DSE), addressed the students as a special guest. He underscored the need for a robust legal framework to prevent malpractice in the stock market. Dr. Tariquzzaman emphasized that upholding the principles of legality and enforcement is essential for ensuring the security of investors, making it a primary responsibility.
In attendance at the training event, hosted by the DSE Training Academy at Dhaka University’s Kazi Motahar Hossain Building, was the Dean of Dhaka University’s Law Department, Dr. Shima Jaman; Chairman of the Law Department, Prof. Dr. Md Nazrul Islam; and DSE Training Academy’s Deputy General Manager, Syed Al Amin Rahman.
Stock Market Bleeds as Index, Turnover Falls
Dhaka Stock Exchange DSE, Bourse on the first working day of the week, September 24, ended with price Index & turnover drops. This information is known from DSE sources.
500 crores 74 lakh shares were traded on this day. 234 crore 61 lakh less trading was done in DSE today compared to the previous workday, 21 September, Shares worth Tk 735 crores 35 lakh shares were traded last time, Thursday.
The benchmark DSEX lost 28.81 points or 6,280 The Shariah-based index DSES dropped 5.93 points or 1,358, and the blue-chip index DS30 decreased by 9.24 points or 2,136.
Of the issues traded, 12 advanced, 148 declined and 150 remained unchanged.
Union Insurance Company Limited ranked top gainer on DSE, the share price increased by Tk 6.80 paisa or 9.94 percent. On this day, the share was last traded at Tk 75.20 paisa
Agrani Insurance Co. Ltd ranked top loser on the DSE, the share price dropped by Tk 5.90 paisa or 11.78 percent. On this day, the share was last traded at Tk 44.20 paisa.
DSE topped on trade is Fu Wang Foods Ltd 22 crore 60 lakh takas of shares of the company have been traded.
A total of 54 companies’ shares were traded in the Block on Dhaka Stock Exchange, 37 lakh 38 thousand 669 shares of the companies were traded. The financial value of which is 18 crore 7 lakh taka
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