Power sector issues sustain huge erosion in prices
The prices of fuel & power stocks suffered losses between 5.0 per cent and 46 per cent in past one year as the market outlook was depressed during the year. Of the 19 companies listed in the sector, prices of 17 firms witnessed price erosion while two saw slightly higher in the last one year between March 25, 2019 and March 25, 2020, according to statistics available with the Dhaka Stock Exchange. In the past one year until March 25, 2020, DSEX, the prime index of the bourse, lost 1,522 points or 27.5 per cent to settle at 4,008 on March 25, the last trading session before the government holiday. The share price of heavyweight United Power Generation & Distribution Company slumped nearly 45 per cent during the year to close at Tk 222.20 on March 25, 2020. The state-run Eastern Lubricants also witnessed 43 per cent price erosion in the past one year to close at Tk 804.20 each on March 25, 2020, the DSE data showed. The share price of Baraka Power also saw 34 per cent price fall in the past one year under review to close at Tk 19.90 each. The Chittagong-based CVO Petrochemicals Refinery witnessed 32 per cent price correction in the past one year to close at Tk 115.40 each. The share price of Doreen Power Generations and Systems also fell 31.8 per cent to close at Tk 57.10 each on March 25. The state-run Power Grid Company of Bangladesh also saw 31.6 per cent price fall to close at Tk 40.40 each on March 25, 2020. The share price of Khulna Power also witnessed 24.5 per cent price fall during the year under review to close at Tk 45.30 each on March 25. The Meghna Petroleum also lost more than 22 per cent during the year under review to close at Tk 157.80 each on March 25. The Shahjibazar Power Company also saw 21.6 per cent price erosion in the past one year to close at Tk 72 each on March 25. The state-run Titas Gas Transmission & Distribution Company also lost nearly 21 per cent of its share price in the past one year to close at Tk 29.90 each. The GBB Power’s share rose 24 per cent to close at Tk 12.40 and the Linde Bangladesh’s share advanced 1.35 per cent to close at Tk 1239 each on March 25, 2020.
GrameenKalyan offers healthcare services
GrameenKalyan (GK), one of the Grameen organizations, during the Coronavirus pandemic, has undertaken several initiatives. It provided all its healthcare professionals with Personal Protective Equipment (PPE), masks and sanitisation products so that they are able to safely continue providing primary healthcare services among people living in rural and semi-urban areas. The healthcare assistants of each healthcare center of GK have been trained to build Covid-19 responsiveness, emphasizing on frequent and correct hand-washing procedure, spraying germicides, also raising awareness about maintenance of personal hygiene, among local people.
Customers paying bills through bKash while maintaining social distance
To follow government directives for preventing Coronavirus, people are relying on bKash as an essential financial service during the Covid-19 emergency. They are utilizing the facility of paying utility bills of electricity, gas, water and internet anytime from home. There are around 2.7 million prepaid subscribers of 6 electricity distribution companies across the country who require immediate recharging to have uninterrupted electricity service. However, for technical limitation of some vending meters, a very small portion of prepaid customers cannot avail the service currently.
NBR steps in to decongest Ctg port
Six more types of imported goods can now be stored at private inland container depots before they are delivered to importers, said the National Board of Revenue yesterday as part of its efforts to resolve the acute container congestion at Chattogram port. Seeds, fibres, pharmaceutical raw materials, yarn, tyre cord, insecticides, fungicide and herbicide can now be can be stored at the 19 ICDs until June 30. The NBR also allowed the import containers bound for Kamalapur ICD from Chattogram port to be sent to the river terminal of Summit Alliance Port in Munshiganj until June 30. The development comes after the Chattogram Port Authority proposed the moves on April 14 to shift about 20,000 twenty-foot equivalent units of import containers from the yards.
Govt. widens OMS operation
The government is expanding its open market sale (OMS) operation across the country to sell more essential items at subsidized rates to the common people. In this regard, the Trading Corporation of Bangladesh (TCB) appointed 46 new dealers temporarily on April 16 last. Currently, an estimated of 2,861 dealers has been listed with the trading corporation across the country. TCB has already asked its regional and camp offices to take action for breaching terms of the contracts signed with the entity. In its directive, the TCB warned of cancelling dealership licence if any report is run in print, electronic and online media about any anomaly in selling its goods. It launched OMS of key essential items from April 01 to keep prices within the purchasing power of the public ahead of Ramadan. The OMS programme will continue across the country until May 20, excepting Fridays. The entity is selling goods through 400 trucks. The commerce ministry on April 15 last constituted eight teams to monitor the ongoing truck-sale activities of TCB in the two Dhaka city corporation areas
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 704.81||↑ 2.90 %|
|FTSE100||5786.96||↑ 158.53||↑ 2.82 %|
|Nikkei 225||19897.26||↑ 607.06||↑ 3.15 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 18.27||↓ 1.60||↓ 8.05 %|
|Crude Oil (Brent)||$ 28.08||↑ 0.26||↑ 0.93 %|
|Gold Spot||$ 1682.82||↓ 34.88||↓ 2.03 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.1593|
|GBP 1||BDT 103.900|
|EUR 1||BDT 90.3850|
|INR 1||BDT 1.09337|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<