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.
One of the Listed Companies, Apex Foods Limited has recommended 20% cash Dividend for the year ended June 30, 2023.
In terms of financial performance, the company has reported an Earnings Per Share (EPS) of Tk. 8.91 for the year ending June 30, 2023. The Net Asset Value (NAV) per share stands at Tk. 136.20.
The Annual General Meeting (AGM) of the company will be held on November 30 through the digital platform. The record date for this has been fixed at October 26.
One of the Listed Companies, Apex Spinning & Knitting Mills Limited has recommended 20% cash Dividend for the year ended June 30, 2023.
In terms of financial performance, the company has reported an Earnings Per Share (EPS) of Tk. 3.51 for the year ending June 30, 2023. The Net Asset Value (NAV) per share stands at Tk. 64.37.
The Annual General Meeting (AGM) of the company will be held on November 30 through the digital platform. The record date for this has been fixed at October 26.
Dhaka Stock Exchange DSE, Bourse on the third working day of the week, October 3, ended with price Index drop & turnover hike. This information is known from DSE sources.
497 crores 17 lakh shares were traded on this day. 31 crore 23 lakh more trading was done in DSE today compared to the previous workday, 2 October, Shares worth Tk 465 crores 93 lakh shares were traded last time, Monday.
The benchmark DSEX lost 10.49 points or 6,262 The Shariah-based index DSES dropped 0.80 points or 1,356, and the blue-chip index DS30 decreased by 0.08points or 2,134.
Of the issues traded, 38 advanced, 109 declined and 155 remained unchanged.
Deshbandhu Polymer Limited ranked top gainer on DSE, the share price increased by Tk 4.20 paisa or 18.34 percent. On this day, the share was last traded at Tk 27.10 paisa
Union Insurance Company Ltd ranked top loser on the DSE, the share price dropped by Tk 6.10 paisa or 9.01 percent. On this day, the share was last traded at Tk 61.60 paisa.
DSE topped on trade is LafargeHolcim Bangladesh Ltd 30 crore 82 lakh takas of shares of the company have been traded.
A total of 68 companies’ shares were traded in the Block on Dhaka Stock Exchange, 1 crore 50 thousand 69 lakh 394 shares of the companies were traded. The financial value of which is 44 crore 65 lakh taka.
