Daily Market Commentary

DSE Market Commentary @ August 31, 2021.

  • Welcome to the trading at Dhaka Stock Exchange (DSE) which has begun today on Tuesday, August 31, 2021.
  • Today trading started at DSE with strong 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 will face intense competition in the EU market after its graduation from the least developed country category, a noted economist said today.
  • Bangladesh will be slapped with a new 12 per cent duty on garment shipment to the European Union when Vietnam will enjoy tax benefit to the same market, said Mustafizur Rahman, distinguished fellow of the Centre for Policy Dialogue (CPD).
  • The subscription of Beximco Green Sukuk Al Istisna’a for General Public has already been started from August 16, 2021 and will be continued till September 06, 2021.
  • Minimum subscription amount is BDT 5,000 (or its multiples) and there is no maximum bar.
  • The registered TREC Holders/ merchant bankers have to upload the IPO file of General Public in the Electronic Subscription System (ESS).
  • IFIC has informed that Board of Directors of the Company has taken a decision to issue BDT 5,000.00 million Non-Convertible Coupon Bearing Subordinated Bond for Tier 2 Capital as per Basel III subject to approval of Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Bank (BB).
  • ALARABANK has informed that BSEC has accorded its consent to AIBL Mudaraba Perpetual Bond for raising of Tire- 1 capital through issuance of AIBL Mudaraba Perpetual amounting to BDT 500.00 crore only through 90% private placement and 10% public offer.
  • The consent has been accorded subject to compliance of relevant laws and regulatory requirements as per BSEC (Debt  Securities) Rules, 2021 and also adherence to the conditions imposed by BSEC under Section- 2CC of the Securities and Exchange Ordinance, 1969.
  • The purpose of the issue is to strengthen the capital base of the Bank.
  • Revenue collection grew marginally in July owing to the slowdown in business activities in the face of the government’s restrictions to combat the coronavirus spread.
  • Provisional data from the National Board of Revenue (NBR) shows that it logged Taka 15,354 crore in taxes in July this fiscal year, up 4 per cent year-on-year from Taka 14,755 crore the previous year.
  • The tax authority’s collection in July, the first month of the fiscal year, was Taka 5,613 crore short from its target.
  • The NBR said income tax was the main driver to keep the overall receipts in a little bit higher territory as collection of import tariff declined while value-added tax (VAT) was slightly up. Income tax collection went up 15 per cent year-on-year to Taka 4,732 crore in July.
  • Collection of VAT, the biggest source of revenue for the state, rose 1.3 per cent year-on-year to Taka 5,697 crore in July from Taka 5,620 crore a year ago.  
  • Domestic market oriented business activities were almost shuttered for nearly three weeks in July, affecting revenue from the two biggest sources cigarettes and mobile phones.
  • The government imposed curbs from the beginning of July until the 14th of that month to ease the restrictions for eight days for Eid-ul-Azha.
  • The restriction was restored for the rest of the month, which largely affected business activities.
  •  Some four crore mobile phone users had zero balance, said a senior official of the Large Taxpayers Unit of VAT.
  • Today market started with a strong upward movement at beginning and by 10:19 AM DSEX reached to 6858.86 points.
  • Moment later market experienced a short dip as DSEX fall to 6850.04 points by 10:23 AM.
  • From 10:40 AM when DSEX was at 6852.15 points, market started to go uptrend again and by 10:59 AM DSEX reached to 6871.7 points.
  • The uptrend movement continued in the market and by 12:00 PM DSEX reached to 6875.98 points.
  • Market remained positive sidewise and by 1:00 PM DSEX reached to 6880.15 points.
  • Market experienced some sidewise downward movement and by 2:00 PM DSEX fall to 6875.73 points.
  • Now 2:45 PM, after Post-Closing session, at the end of today’s (Tuesday, August 31, 2021) trading, DSEX, the key index of DSE, charged up by 45.64359 points or +0.66891% to end at 6869.24734 points on the bourse today.
  • At the end of today’s trading, Market Turnover has increased and closed over Taka 2,200 crore range (Taka 22,493.414 mn). It has increased by over Taka 402 crore (Taka 4,024.507 mn) , +21.79072% from previous day’s turnover of Taka  18,468.907 mn.
  • Today a total of 376 company’s shares were traded. Among which prices have increased for 225 companies, prices have decreased for 119 companies and 32 companies have seen its prices remained unchanged.
  • Today’s SECTORwise trading at DSE have seen again INSURANCE sector topped today’s market share followed by TEXTILE sector.
  • BEXIMCO has topped the list for highest traded shares in terms of total traded value of Taka  1,167.6930 mn followed by LHBL (Taka 954.2680 mn) and BATBC  (Taka 641.2410 mn).
  • MAKSONSPIN, MITHUNKNIT and ISLAMIINS have topped the list of most % price change with 10% price increase followed by TAMIJTEX (9.947%), BNICL (9.946%) price increases.
  • The stock market bounced back again today after falling for three days as investors went for booking profits.
  • The equity indices of the Dhaka Stock Exchange (DSE) bounced back to settle at a green trajectory while DSEX, the key index of DSE, charged today.
  • The stock market index has been on a rising trend for the last few months when many stocks rose 10 to 20 per cent. So profit booking was expected. Now, investors have started to buy again as they believe the index would increase further.
  • The bullish trend from the beginning of the session persisted till the closure as investors engaged in buying bonanza after the market observed consecutive falls in the last few sessions.
  • The increase of the large capitalized stocks, namely BATBC, BEXIMCO, and LHBL have largely contributed to the market in making a comeback today.
  • The stellar performing general insurance scripts continued to rise while the mutual fund sector, after impressive earning declarations, observed an intense selling spree on the bourse.
  • Investors’ participation was agile on the bourse.

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

Till  then  Good  Bye. Thank You.

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