Stocks
US Stock Market Witnessed a Week of Uncertainty and Unease
In a turbulent start to the week, major US stock indexes initially faltered but found some reprieve after Friday’s positive jobs report. However, the day concluded with overall losses. The Dow Jones Industrial Average saw its weekly figures dip by approximately 1%, while both the S&P 500 and the NASDAQ experienced more substantial weekly declines, surpassing 2%.
The landscape of Q2 2023 earnings reporting in the S&P 500 has been unveiled, with an impressive 84% of companies having already disclosed their results. Analysis of these releases as of Friday indicates that 79% of these firms exceeded net income projections, outpacing the five-year average of 77%, as reported by FactSet.
Despite these promising figures, a broader perspective reveals that earnings are poised to contract by approximately 5.7% in comparison to the previous year. This would mark the most substantial earnings setback registered by the index since the third quarter of 2020.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent loss of 265 points, reaching a closing value of 13,644 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 55 points to settle at 4,464 points. Meanwhile, DJIA Index experienced a notable surge, adding by 216 points during the week and concluding at 35,281 points after a week of gains.
In contrast, Russell 3000 Index saw a gain in week performance, with a loss of 12 points to reach 2,566 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable drop of 32 points, ending the week at a steady 1,925 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.
