Stocks
US Stock Markets Witness Weekly Upswing
The major US stock indexes surged by approximately 2% to 3% during the week, surpassing the losses incurred in the previous week. Notably, the S&P 500 and NASDAQ attained their highest levels in the past 15 months. The NASDAQ experienced a remarkable gain of over 3%, marking its most impressive weekly performance in four months.
The stock market received a significant boost from a midweek report on U.S. inflation, which revealed that the Consumer Price Index fell to an annual rate of 3.0% in June. This is the lowest level recorded since March 2021, demonstrating a consistent decline from its peak of 9.1% in June 2022, which marked a four-decade high. Furthermore, another report published on Thursday indicated a decrease in inflationary pressures at the wholesale level.
The index that tracks investors’ expectations of short-term U.S. stock market volatility also witnessed a decline of approximately 10% throughout the week. After a previous increase, the Cboe Volatility Index retreated to a level slightly above its multi-year low achieved on June 22.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 453 points, reaching a closing value of 14,113 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 107 points to settle at 4,505 points. Meanwhile, DJIA Index experienced a notable surge, adding by 775 points during the week and concluding at 34,509 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a hike of 66 points to reach 2,591 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 67 points, ending the week at a steady 1,931 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.
