Dhaka Stock Market DSE, Bourse on the second working day of the week, 17th September, ended with a negative performance in Indices and Turnover from the previous working session. This information is known from DSE sources.

634 crore 96 lakh taka shares were traded on this day. 33 crore 99 lakh less tradings were done in DSE today compared to the previous workday, 15th September, Shares worth Tk 668 crores 95 lakh shares were traded last time, Sunday.

The benchmark DSEX lost 30.17 points or 5,681 The Shariah-based index DSES dropped 8.49 point or 1,238 and the blue-chip index DS30 decreased by 16.91 points or 2,068.

Of the issues traded, 156 advanced, 182 declined and 63 remained unchanged.

BD Thai ALuminium Limited ranked top gainer on DSE, the share price increased by Tk 1.40 paisa or 10.00 percent. On this day, the share was last traded at Tk 15.40 paisa.

national tea Comapany Limited ranked top loser on the DSE, the share price dropped by Tk 38.80 paisa or 9.83 percent. On this day, the share was last traded at Tk 405.50 paisa.

DSE topped on trade is Sonali Aansh Indutries Limited 21 crore 86 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 45 lakh 95 thousand 906 shares of the companies were traded. The financial value of which is 19 crore 8 lakh taka.

SM Shamsul Alam, the sponsor-director and chairman of Walton Hi-Tech Industries PLC, has decided to transfer over 3.64 crore shares of the company to his wife and daughters. According to Walton’s shareholding report for August, Alam currently holds 6 crore shares, representing 19.81% of the total ownership in the tech giant.

As part of the transfer, his daughter, Sabiha Jarin Orona, will receive 1.81 crore shares, while his wife, Shahinur Akter Jolly, will be allocated 90.81 lakh shares. Both are general shareholders of Walton Hi-Tech Industries. Additionally, his other daughter, Tahmina Afrose Tanna, who serves as a shareholder-director on Walton’s board, will receive 91.75 lakh shares.

The transfer will be made as a gift, taking place outside the stock exchange’s trading system, within 30 working days starting from 11 September 2024, according to the disclosures published by the Dhaka Stock Exchange (DSE).

Currently, Walton’s sponsor-directors hold a dominant stake of 98.51%, equivalent to 30.29 crore shares. The remaining 1.49% is owned by general shareholders, which includes institutions holding 0.66%, foreign investors with 0.10%, and the public owning 0.73%.

Walton entered the public market in 2020 by offering only 1% of its shares. In an effort to prevent market manipulation, the Bangladesh Securities and Exchange Commission (BSEC) mandated Walton in 2021 to increase the number of free-floating shares to at least 10%, alongside other companies such as the Investment Corporation of Bangladesh (ICB) and Berger Paints.

As of 30 June 2024, Walton’s report shows that sponsors and directors sold 15.85 lakh shares to general and institutional investors. In the fiscal year 2023-24, Walton recorded a profit of Tk1,356 crore, reflecting a Tk573.85 crore rise compared to the previous year. The board approved a 200% cash dividend for sponsor-directors and a 350% dividend for general shareholders.

Asian investors trod cautiously Monday as they struggled to build on recent equity gains, with debate swirling around how big an expected US interest rate cut will be this week, while sentiment was being dragged by worries about the Chinese economy.

The yen edged to a new high since December ahead of the Federal Reserve decision on Wednesday and a policy meeting at the Bank of Japan two days later.

Data showing US inflation slowed more than expected last month to its weakest pace since February 2021 has sparked fresh talk that Fed officials will announce a bumper 50-basis-point cut and continue easing into the new year.

However, while bets on such a move have risen, some analysts warned that it could send a signal that decision-makers are worried about the economy, particularly after two readings showing the labour market was softening.

While bank officials have played their cards close to their chest, they have hinted that they are willing to discuss a bigger cut, while former New York Fed chief Bill Dudley said he thought “there’s a strong case for 50”.

Michael Krautzberger at AllianzGI said: “The Fed, like other central bankers, are now focused on economic growth rather than inflation risks and becoming increasingly worried about being behind the curve on policy — cutting rates too late to avert a recession or sharper growth slowdown.

“Therefore, in our view, the risks of larger rate cuts at subsequent meetings this year cannot be discounted, especially if labour market activity deteriorates faster than currently expected and inflation continues to head towards target.”

All three main indexes on Wall Street pushed higher Friday, with the Dow and S&P 500 within a whisker of their record highs.

But Asian investors were unable to extend the rally, with Hong Kong, Singapore and Wellington down but Sydney, Taipei and Manila edging up.

Trade was muted by holidays in Tokyo, Shanghai, Jakarta and Seoul.

On currency markets the yen hit 140.43 per dollar, its strongest level since the end of December, while gold remained at all-time highs after hitting a record $2,586.10 per ounce Friday.

Traders are keeping tabs on developments in China after more weak data on credit, retail sales, industrial production and house prices stoked concerns about the state of the world’s number two economy.

The figures “collectively add to concerns that policy measures announced in recent weeks and months have so far failed to have any measurable impact in lifting economic growth thus far in the third quarter after the weak second quarter performance”, said National Australia Bank’s Ray Attrill.

He added that investors will be keenly watching the government’s upcoming Politburo meeting — the date of which has yet to be set.

In light of the latest batch of disappointing figures, the central bank outlined plans to support the economy, saying it will “make maintaining price stability and pushing for the mild rebound in prices an important consideration for monetary policy and meet reasonable financing demand for consumption in a more targeted way”.

The Fed’s decision is set to be followed by the BoJ on Friday, with most analysts expecting it to hold rates after a surprise hike at the end of July sparked turmoil on markets.

“A consecutive hike would likely be seen as too aggressive, especially given criticism that the BoJ’s hawkish stance contributed to global market turbulence in early August,” said IG analyst Tony Sycamore.

“That said, stronger-than-expected inflation and wage growth in Japan over the past month have given the BoJ confidence in a wage-price cycle that could keep inflation above two percent, paving the way for more policy tightening.”

– Key figures around 0230 GMT –

Hong Kong – Hang Seng Index: DOWN 0.6 percent at 17,271.92

Tokyo – Nikkei 225: Closed for a holiday

Shanghai – Composite: Closed for a holiday

Dollar/yen: DOWN at 140.53 yen from 140.76 yen on Friday

Euro/dollar: UP at $1.1088 from $1.1079

Pound/dollar: UP at $1.3141 from $1.3125

Euro/pound: DOWN at 84.37 pence from 84.40 pence

West Texas Intermediate: UP 0.5 percent at $68.98 per barrel

Brent North Sea Crude: UP 0.4 percent at $71.86 per barrel

New York – Dow: UP 0.7 percent at 41,393.78 (close)

London – FTSE 100: UP 0.4 percent at 8,273.09 (close)