DSE key index tumbles below 5,200-mark

Stocks plummeted on Sunday as jittery investors continued to dump their holdings amid fear over the impact of strict lockdown and withdrawal of floor price restriction for several companies. DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell by 90.07 points or 1.71 per cent to settle at 5,164. DSEX shed 173 points in the past two trading sessions. The market opened sharply lower which continued till end of the session as panic gripped investors following the news of strict lockdown from April 14 amid worsening coronavirus situation. The investors also reacted negatively to withdrawal of ‘floor-price’ restriction for 66 companies although the market regulator lowered the circuit breaker limit to 2.0 per cent from the existing 10 per cent on these companies.Panic gripped investors as they fear the strict lockdown is expected to continue for long time due to rising number of deaths from Covid-19, commented EBL Securities. The stockbroker noted that the regulator’s decision to put a 2.0 per cent lower circuit breaker on the 66 companies without floor price restriction failed to rescue the index.The Chittagong Stock Exchange (CSE) also fell sharply with the CSE All Share Price Index – CASPI -losing 247 points to settle at 14,983 and the Selective Categories Index – CSCX shedding 150 points to close at 9,039. Of the issues traded, 139 declined, 26 advanced and 27 remained unchanged on the CSE. The port city’s bourse traded 5.26 million shares and mutual fund units with turnover value of more than Tk 144 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dse-key-index-tumbles-below-5200-mark-1618159365

Robi’s total revenue rises 3.2 pc in Q1

The country’s second largest telecom operator Robi Axiata has earned net profit worth Tk 343 million for January-March (Q1), 2021, according to a release. The company’s total revenue in Q1, 21 stood at above Tk 1.98 billion, which is 3.2 per cent higher than the last quarter of 2020 and 1.7 per cent higher than the same quarter last year. “Despite the heavy toll on financial performance caused by the impact of 2.0 per cent minimum tax on gross revenue, Robi ended Q1’21 with a net profit of Tk 343 million,” said the release based on the company’s corporate disclosure. It said, having added 1.0 million customers, the Robi’s subscriber base reached 51.90 million by the end of Q1, 21.The company’s sponsor-directors hold 90.05 per cent shares, institutes 2.08 per cent and general shareholders 7.87 per cent as February 28, 2021. Robi’s share price closed at Tk 43.80 each on Sunday with a loss of 4.99 per cent or Tk 2.30 on the Dhaka Stock Exchange (DSE).

Source: https://today.thefinancialexpress.com.bd/stock-corporate/robis-total-revenue-rises-32-pc-in-q1-1618159422

RAKUB enters into online banking services thru’ RTGS system

RajshahiKrishiUnnayan Bank (RAKUB) has entered into a new trend of online banking services through launching real time gross settlement (RTGS) system. With this breakthrough, from now on, all clients of RAKUB can avail the inter-banking transaction facilities. Apart from this, they can also carry out their transaction with different other banks instantly.Through its 383 branches at present, RAKUB has been operating its activities as the largest development partner in all the 16 northwest districts of Rajshahi and Rangpur divisions targeting the agricultural sector and all its sub-sectors.

Source: https://today.thefinancialexpress.com.bd/trade-market/rakub-enters-into-online-banking-services-thru-rtgs-system-1618159107

Banking hours extended as people rush to branches

The central bank yesterday extended the banking hours by half an hour after clients rushed up to branches to withdraw cash as the country is set to go into a strict lockdown from April 14 to tame the raging coronavirus. Clients can carry out transactions between 10:00 am and 1:00 pm on April 12 and April 13, according to a central bank notice. The Bangladesh Bank had shortened the banking hours from 10:00 am to 12:30 pm on April 4, after the government announced a lockdown-like restriction, banning transport movement and closing shops for a week from April 5. But the coronavirus situation has not improved. Instead, the number of infections and deaths is rising alarmingly. This prompted the government to come up with a strict countrywide lockdown from April 14. Road Transport and Bridges Minister ObaidulQuader and State Minister for Public Administration Farhad Hossain on Friday said that the government was considering a strict lockdown for a week from April 14.The central bank has already increased the transaction ceiling under the booming mobile financial service (MFS) during the lockdown. A client can now send Tk 200,000 per month instead of the previous ceiling of Tk 75,000. Besides, people will not count any charge in sending a maximum of Tk 40,000 per month. Clients are allowed to send Tk 10,000 per transaction without any cost. Earlier, an individual was charged Tk 5 to send money to another person.

Source: https://www.thedailystar.net/business/banking/news/banking-hours-extended-people-rush-branches-2076305