Stocks drift marginally lower after 4 sessions
Dhaka bourse on Tuesday closed marginally lower after the core index gained 398 points in previous four consecutive sessions amid announcement of some market supportive measures and stakeholders’ subsequent meeting in this regard. On the day, the DSEX, core index of Dhaka Stock Exchange (DSE), declined marginally as large-cap companies having impact on index performed mixed. The turnover value crossed Tk 4.0 billion-mark following investors’ active participation observed during mid-session. The market opened the day’s session negatively and the core index witnessed see-saw movement for 50 minutes. Later, the DSEX rebounded but failed to sustain and closed the day’s session with a marginal loss. At the end of the session, the DSEX settled at 4408.11 with a loss of 0.58 per cent or 26.13 points. The shariah based index DSES declined 0.71 per cent or 7.30 points to close at 1007.64. Of 356 issues traded on the DSE, 79 advanced, 237 declined, and 40 remained unchanged. The premier bourse DSE on Tuesday featured a turnover of above Tk 4.06 billion which was 17.76 per cent less than that of the previous session. Of the major sectors which witnessed price correction, bank declined 0.3 per cent, engineering 1.3 per cent, fuel & power 0.3 per cent and textile 2.1 per cent. Of the sectors which witnessed price appreciation, financial institutions advanced 3.5 per cent, and cement 1.1 per cent. Investors’ concentration was focussed mostly on pharmaceuticals & chemicals which grabbed 16.4 per cent of the market turnover followed by engineering 12.7 per cent and bank 10.8 per cent.
Square Pharma tops turnover chart
Square Pharmaceuticals on Tuesday featured the highest turnover value following investors’ increased transactions executed in the main trading floor and block board. On the day, the company posted a turnover of Tk 315 million and snared 7.77 per cent of the market turnover featured by Dhaka Stock Exchange (DSE). Of total turnover featured by Square Pharmaceuticals, Tk 273 million came from transactions executed in main trading floor of the prime bourse. The remaining Tk 40 million from the transactions was executed in the block board. Meanwhile, two directors of the company-Anjan Chowdhury and Ratna Patra- have expressed intension to purchase 0.3 million shares each at the prevailing market price. According to two separate corporate disclosures posted on DSE website, the said amount of shares will be purchased from the public market within 30 working days. On Tuesday, the share price of Square Pharmaceuticals closed at Tk 195.10 each with a marginal loss of 0.36 per cent or Tk 0.7 on the DSE.
Govt to protect interest of salt producers
Industries Minister Nurul Majid Mahmud Humayun on Tuesday assured the salt producers of providing all government supports to protect their interest. The ministry remains alert so that no one can import edible salts in the name of industrial salt, he told a press briefing on the ministry’s achievement and activities related to Bangabandhu’s birth centenary programmes at his ministry in the city. Bangladesh is going to celebrate the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman from March 17, 2020 to March 17, 2021. Besides, Mr. Humayun said that salt should be procured directly through Bangladesh Chemical Industries Corporation (BCIC).
‘More air connectivity’ to aid tourism
Experts at a programme in the city suggested that more air connectivity is required for enhancing tourism in the country and making popular for the tourists the existing tourist destinations in all seasons or round the year. They observed that authorities in Bangladesh have already destroyed many ecologically-sensitive tourist spots and not yet developed as many tourist spots while they also could not make them as attractive as they should have been due to lack of sensitivity, adequate tourist facilities and sincerity to promote the sector. They expressed their disappointment over the slow progress of some of the infrastructure development projects which could be helpful for tourism promotion. They suggested staking steps to raise awareness about environmentally-sustainable tourist destinations and move forward together for generating more employment, changing socio-economic condition and making economic progress through air connectivity and tourism development. The observations came at an exchange of views meeting on ‘Air Connectivity to Enhance Tourism’ at a hotel in Cox’s Bazar recently. Infrastructure development work started in March, 1984, and could not be completed even in 2020. “The same is the case with the construction work of Khan Jahan Ali Airport which started in 2007. The authorities still talking about land acquisition.
Allow 100pc FDI sans any discrimination
Visiting apparel sector leaders from Sri Lanka have requested Bangladesh to allow 100 per cent foreign direct investment (FDI) without any discrimination between local and foreign companies in offering supports. They also expressed their interest to invest in Bangladesh’s textile and garment industry to collectively utilise the existing strengths of both the countries and grab global market. They also expressed their interest to invest in Bangladesh’s textile and garment industry to collectively utilise the existing strengths of both the countries and grab global market. The delegation stressed the need for equal policy support to encourage investment from Sri Lanka that is good at manufacturing value added garment items and have collaboration with buyers in products innovation.
D Money signs deal with LankaBangla Finance
D Money Bangladesh Limited and LankaBangla Finance Limited signed an agreement for digital payment collection recently. Under the agreement, D Money users can make payment of LankaBangla credit card bills and DPS through the Dmoney App. Aref R. Bashir, Co-Founder & Managing Director of D Money Bangladesh Limited, and Khwaja Shahriar, Managing Director & CEO of LankaBangla Finance Limited signed the agreement on behalf of their respective organisations.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX||4,408.10941||↓ 26.13||↓ 0.59 %|
|↓ 152.06||↓ 0.52 %|
|FTSE100||7,610.70||↓ 40.74||↓ 0.53 %|
|Nikkei 225||24,013.99||↑ 149.43||↑ 0.63 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 58.11||↓ 0.27||↓ 0.46 %|
|Crude Oil (Brent)||$ 64.33||↓ 0.26||↓ 0.40 %|
|Gold Spot||$ 1,551.38||↓ 6.79||↓ 0.44 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.2649|
|GBP 1||BDT 108.518|
|EUR 1||BDT 92.3816|
|INR 1||BDT 1.16950|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<