Stocks
US Economic Outlook Holds Asian Markets in Suspense
Global markets continue to grapple with uncertainty as investors closely monitor key economic indicators and central bank decisions. The previous week’s robust US labor figures suggested a potential soft landing for the economy, but the market remains cautious ahead of crucial data releases.
Consumer prices and retail sales data, along with the Federal Reserve’s policy decision and Chairman Jerome Powell’s statement, are expected to provide valuable insights into the trajectory of monetary policy.
Investors are particularly sensitive to signals that could indicate whether the Federal Reserve plans to continue tightening its monetary policy to curb inflation or adopt a more accommodative stance. The delicate balance between addressing inflation concerns and supporting economic growth has kept markets on edge.
In addition to the Fed’s actions, decisions from the European Central Bank and the Bank of England will contribute to the overall global market sentiment. The potential impact of these central bank moves on currency exchange rates, trade flows, and investor confidence adds another layer of complexity to the current economic landscape.
While Wall Street experienced gains at the end of the previous week, Asian markets struggled to sustain the positive momentum. China’s economic challenges, reflected in further deflation, added to the cautious atmosphere. Tokyo, Sydney, Seoul, and Taipei saw gains, while Hong Kong, Shanghai, Singapore, Wellington, Manila, and Jakarta faced declines.
The currency market also witnessed notable movements, with the dollar extending its advance against the yen. Last week’s sharp decline in the dollar, attributed to speculation about a shift in the Bank of Japan’s monetary policy, has raised concerns and contributed to ongoing market volatility.
As the week progresses, market participants will be keenly observing developments, hoping for clarity on the Federal Reserve’s 2024 playbook and the broader direction of global monetary policies. The interplay between economic data, central bank decisions, and geopolitical events will continue to shape market dynamics and influence investment strategies.
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.
