TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash January 24, 2021

Stocks ride on increased liquidity

Although Bangladesh’s stock market is not connected with global markets and does not follow the usual global trends, nowadays it has been different. Dhaka stocks are soaring like other major markets which are hovering around all-time highs. The reason, analysts said, is a global availability of liquidity, including in Bangladesh. The S&P index of the US now stands at a record 3,841 points while the Dow Jones is also at an all-time high with 30,996. Similarly, Nasdaq reached a personal best of 13,543 points. Meanwhile, Dhaka Stock Exchange (DSE) witnessed its highest-ever market capitalisation on January 14. The DSEX, the benchmark index of the DSE, also touched 5,900 points last week and remains in a positive trend. Its all-time high is 6,336 points. The Nikkei stock average of Japan is at a high point of 28,631 while neighbouring India’s BSE Sensex is also at a record 48,875. The UK’s FTSE 100 was at its all-time high of 7,730 in 2018 but then fell due to the Covid-19 outbreak. It is now on the rise again and has jumped to stand at 6,695 as of January 22. It is the same scenario in Hong Kong, where the Hang Seng index topped 33,154 points in 2018 but now stands at 29,447. But this index is also in a rising trend. The central bank has asked scheduled banks to form a fund of Tk 200 crore to invest in the stock market.

Source: https://www.thedailystar.net/business/news/stocks-ride-increased-liquidity-2032897

Bourses see extensive profit booking

Bourses witnessed widespread profit-booking last week when the insurance stocks rose the most thanks to a regulatory move on minimum shareholding compliance. DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 73.14 points, or 1.24 per cent, during the week. Meanwhile, insurance stocks went upward riding on news that the regulator issued letters to all the companies to maintain a paid-up capital of Tk 30-40 crore. Almost all the top gainers were from the insurance sector. For instance, Agrani Insurance rose 21.9 per cent in the week followed by Provati Insurance and Islami Insurance. The Insurance Development and Regulatory Authority asked all insurance companies to comply with the minimum shareholding rule of 60 per cent by the sponsors in their respective companies and maintain a minimum paid-up capital of Tk 30-40 crore in a month. After this the insurance stocks started rising. Among listed 49 insurance stocks, 37 advanced and 12 declined in the last week. Insurance sector market capitalisation rose 1.6 per cent in the last week, according to the weekly market review of UCB Capital Management. In the last few weeks, insurance stocks have been declining after experiencing a continuous rise for a long time. However, the IDRA’s circular helped it to gain again, the stock broker said. In the last week, junk stocks got a hit so most of the low-performing companies’ stocks were red. Alltex Industries shed the most, falling 16.9 per cent followed by LafargeHolcim Bangladesh, Alif Manufacturing, Appollo Ispat, and Jute Spinners. Meanwhile, the DSE’s average daily turnover, another important indicator of the market, dropped 16.25 per cent to Tk 1,565 crore in the last week. The fuel and power sector dominated the turnover chart, covering 14.3 per cent of the total turnover.

Source: https://www.thedailystar.net/business/news/bourses-see-extensive-profit-booking-2032901

LNG import rises in 2020

Bangladesh imported 8.97 million cubic metres of LNG in 2020, up 1.56 per cent from 2019. It brought 65 cargoes, each having around 138,000 cubic metres of LNG (liquefied natural gas), from January to December last year. The shipments included only one cargo from the spot market and the remaining 64 from term dealers. It has also a plan to import up to 24 LNG cargoes from the spot market if it gets the price at an expected level, a senior Petrobangla official told the FE. In the calendar year of 2019, Bangladesh imported a total of 64 LNG cargoes from term dealers. The state-run Rupantarita Prakritik Gas Company Ltd, a wholly-owned subsidiary of Petrobangla, imported an estimated 2.50 million tonnes from Qatargas in 2020. It also imported around 1.5 million tonnes of LNG from Oman Trading International (OTI) the same year. The lone LNG cargo from the spot market was supplied by Vitol Asia Pte Ltd in late September 2020. US’s Excelerate Energy started supplying regasified LNG from its FSRU commercially since August 18, 2018, and the local Summit Group since April 29, 2019. Both the FSRUs (floating storage regasification units) have the capacity to regasify an estimated 500-million cubic feet per day (mmcfd) of LNG. Currently, Bangladesh has been importing LNG under long-term deals from Qatargas and OTI. It is working to double LNG imports to around 1,000 mmcfd by 2021 and thereafter to 2,000 mmcfd by 2025. The currently operational two 3.75 Mtpa-capacity LNG import terminals-both FSRUs-will regasify LNG to ramp up output to around 1,000 mmcfd. LNG regasification will be 2,000 mmcfd from 2025 with the commissioning of a proposed 7.5 Mtpa land-based LNG import terminal. A report prepared by Copenhagen-based Ramboll in association with Geological Survey of Denmark and EQMS Consulting Limited says Bangladesh will need to import around 30 million tonnes of LNG annually to meet the mounting demand from sectors like industries, power plants and fertiliser plants by 2041.

Source: https://today.thefinancialexpress.com.bd/trade-market/lng-import-rises-in-2020-1611417596

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,996.98
↓ 179.03↓ 0.57 %
FTSE100$ 6,695.07↓ 20.35↓ 0.30 %
Nikkei 225$ 28,631.45↓ 125.41↓ 0.44 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.27↓ 0.86↓ 1.62 %
Crude Oil (Brent)$ 55.41 ↓ 0.69↓ 1.23 %
Gold Spot$ 1,855.62↓ 14.40↓ 0.77 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 115.8114
EUR 1BDT 102.6758
INR 1BDT 1.1524





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited