DSE turnover exceeds Tk 12b mark
Daily trade turnover on Dhaka Stock Exchange (DSE) crossed Tk 12 billion mark on Monday, after nearly three months, as buoyant investors put fresh funds on stocks anticipating positive momentum ahead. Turnover stood at Tk 12.08 billion on the country’s premier bourse, up by 24 per cent over previous day’s tally of Tk 9.72 billion. It was the highest single-day transaction since February 16, 2022, when turnover totaled Tk 12.13 billion, as the participation of investors increased in the market after the Eid break. Along with rising turnover, DSEX, the key index of the DSE, went up by 28.66 points or 0.42 per cent to settle at 6,698. The core index added 55 points in the past two consecutive sessions. Two other indices also closed higher. The DSE Shariah Index (DSES) rose 6.71 points to close at 1,454 and the DSE 30 Index, comprising blue chips, saw a fractional gain of 0.14 point to finish at 2,449. The Chittagong Stock Exchange (CSE) also kept rising with the CSE All Share Price Index – CASPI -gaining 44 points to settle at 19,639 and the Selective Categories Index – CSCX – advancing 26 points to close at 11,783. Of the issues traded, 178 advanced, 92 declined, and 32 issues remained unchanged on the CSE.
Bangladesh seeks diversified investment from US
Bangladesh has urged the US businesses to diversify their investment in Bangladesh going beyond the energy sector. About 90% of current US investment in Bangladesh is in the energy sector. The US entrepreneurs expressed their interest to invest in the Bangladesh ICT sector as we have some 6.5 lakh freelancers. This is good news. They earlier were not interested to invest in Bangladesh. Entrepreneurs of the United States are now investing in the energy sector, but I informed them about many other potential sectors and our promising economic zones.
Exports booming despite gloomy global outlook
Earnings from merchandised exports from Bangladesh soared 51.18 per cent year-on-year in April to $4.73 billion helped by higher shipment of garments, home textiles and footwear. The higher flow of export receipts continues despite persisting global uncertainties emanating from the Russian-Ukraine war, dragging supply chain disruptions, and higher inflationary pressures. In fact, exports from Bangladesh have been posting stellar growth since September, sending monthly receipts above $4 billion for the first time in the country’s history, as demand rebounded in the western economies in keeping with the receding coronavirus pandemic. Earnings hit an all-time high of $4.9 billion in December and the momentum continued in the subsequent months. From July to April, apparel shipment, which accounts for about 85 per cent of the national exports, swelled by 35.98 per cent to $35.36 billion. Of the total, $19.24 billion came from knitwear shipments, up 37.49 per cent, and $16.11 billion from woven shipments, a rise of 34.23 per cent.