Daily Market Commentary

DSE Market Commentary @ August 29, 2021.

  • Welcome to the trading at Dhaka Stock Exchange (DSE) which has begun today on Sunday, August 29, 2021.
  • Today trading started at DSE with a upward movement at the beginning.
  • At DSE, trading has been ongoing with the following trading period: Pre-Opening Session from 9:45 AM to 10:00 AM, Continuous Session from 10:00 AM to 2:30 PM and Post-Closing Session from 2:30 PM to 2:45 PM.
  • Bangladesh is on a path to weak recovery as reflected in a survey, although there are predictions business confidence will improve in the first quarter of the current fiscal year.
  • August has been a stellar month for stocks as Dhaka Stock Exchange shatters records across the board in August 2021. During this month, all major market indexes and measures, including market capitalization, reached historical highs.
  • Market capitalization at the DSE stood at Tk 559,189 crore last Wednesday (August 25, 2021), the highest since the local stock market opened in 1956.
  • All these records were broken in the same month as people now prefer investing in the stock market rather than keep their funds with low interest paying banks. As a result, investor participation also reached a high point as seen during the market boom in 2010, he added.
  • The upward trend of investor participation started in April, when the indexes first started to raise. As the market is rising, some new general investors also came to the market so the index continued to rise for the last five months.
  • There are many reasons for the rising stock market, such as low interest rate in banks, higher confidence on the present commission of the stock market regulator, and sustained lower price of stocks.
  • The mutual fund industry is performing well and recommending impressive dividends for unit holders as the capital market bounced back in the last fiscal year.
  • BRACBANK has informed that Board of Directors of the Company has taken a decision to issue up to BDT 6,000.00 million Non-Convertible, private placed, redeemable, unsecured, fixed coupon bearing Bond to raise funds for providing affordable housing finance to lower and middle income group of the country subject to approval of the regulatory authorities.
  • Registration of Qualified Investors (QIs) in electronic subscription (ESS) for taking part in trading of securities in SME platform: All qualified investors (QIs) are allowed to take part in trading of securities in the SME platform. To take part in trading of securities in the SME platform, Interested Market Makers, Issuer of listed securities, Resident or non-resident Bangladeshi individual having minimum net worth of Tk. 10 (ten) million and Any other category of person as approved by the Commission are requested to register with the Electronic Subscription Systems (ESS) of the exchanges. To register please visit the following website: https://www.essbangladesh.com.
  • Alpha Credit Rating Limited (AlphaRating) has rated the RENATA Ltd. as “AAA” in the long term and “ST-1” in the short term along with a stable outlook based on audited financial statements of the Company up to June 30, 2020 and relevant qualitative information up to August 28, 2021.
  • Today market started with a upward movement at beginning and by 10:06 AM DSEX reached to 6875.96 points only to experience a gradual fall from the next minute and by 10:25AM DSEX fall to 6838.29 points.
  • After that market bounced back and by 12:41 AM DSEX reached to 6859.87 points.
  • But market started to fall again after 10:43 AM and continued to fall gradually and by 11:30 AM DSEX was at 6837.77 points.
  • Market has been bounced back to some extent and by 11:59 AM DSEX reached to 6856.63 points.
  • Market started to fall again and by 12:30 PM DSEX fall to 6840.83 points.
  • Market continued to fall and by 2:!5 PM DSEX fall to 6819.22 points but moment later started to recover and by 2:27 PM  DSEX had a short recovery as it at 6829.51 points by then.
  • Now 2:45 PM, after Post-Closing session, at the end of today’s (Sunday, August 29, 2021) trading, DSEX, the benchmark index of Dhaka Stock Exchange, tumbled by 27.71802 points or -0.40456% to end at 6823.60375 points at the end of today’s session.
  • At the end of today’s trading, Market Turnover has decreased and closed over Taka 1,800 crore range (Taka 18,468.907 mn). It has decreased by over Taka 380 crore (Taka 3,807.496 mn) , -17.09206% from previous day’s turnover of Taka  22,276.403 mn.
  • Today a total of 376 company’s shares were traded. Among which prices have increased for 131 companies, prices have decreased for 215 companies and 29 companies have seen its prices remained unchanged.
  • Today’s SECTORwise trading at DSE have seen again TEXTILE sector topped today’s market share followed by INSURANCE sector.
  • BEXIMCO has topped the list for highest traded shares in terms of total traded value of Taka  1,065.8260 mn followed by LHBL (Taka 661.8580 mn) and SAIFPOWER (Taka 540.1350 mn).
  • AZIZPIPES has topped the list of most % price change with 9.850% price increase followed by MONNOFABR (9.653%) , RAHIMAFOOD (8.747%) price increases.
  • Indices in the Dhaka Stock Exchange extended the losing streak for third consecutive sessions as investors turned conservative due to recent regulatory moves by the central bank, while the benchmark index DSEX has tumbled today.
  • Due to profit booking sell-offs across the major sectors, the market started to observe volatility and the prevailing bearish momentum took the indices to close in red trajectory.
  • The losing streak of stocks from the large capitalized Bank and NBFI sectors have aggravated the market fall further.
  • Besides, most of the investors adopted a sideline approach as a result; the participation declined and stood below the BDT 20.0bn marks after 17 trading sessions.

That’s  all  from  today’s market. See you on the next day.

Till  then  Good  Bye. Thank You.

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