Daily Market Commentary

DSE Market Commentary @ July 7, 2021

  • Welcome to the third day of operation during nationwide strict lockdown, trading at Dhaka Stock Exchange (DSE)  on today Wednesday,  July 7, 2021.
  • Today market has welcomed its valued investors by shown a very positive movement from the very first minute.
  • At DSE, trading has been started today with the new trading time frame of 10:00 AM – 1:00 PM (with 9:45 AM – 10:00 AM as Pre-Opening session and 1:00 PM – 1:15 PM as Post Closing session).
  • It is alarming that Bangladesh have witnessed a sharp rise in daily cases of Covid-19 on Tuesday with 11,525 people diagnosed with the viral disease and 163 deaths in the last 24 hours.
  • It is  11:12 AM,  trading at DSE is seeing continuous rise as DSEX has already crossed 6200 points mark and raised to 6231.90443 points so far, a 35.33020 points, +0.57016% increase from its yesterday’s value.
  • Textile sector has continued to be the market leader.
  • Today in the news feed of DSE, noticeable news for the listed company Genex Infosys Limited (GENEXIL) is that the Board of Directors of this company have approved an Agreement with “EDOTCO BANGTADESH CO LTD.”, the country’s largest multinational Telecom Tower Company in Bangladesh, to be called “AGREEMENT FOR PROVIDING 360 DEGREE SECURITY SOLUTION SERVICE”. The tenure of this Agreement is 3 years. Under this agreement Genex Infosys Limited will provide 360 degree IOT (Internet of Things) based security solution including monitoring and theft protection. This solution is the country’s first ever IOT based large scale security solution with an aim to deploy throughout the entire geo location of Edotco in Bangladesh. This 360 degree security solution service agreement is expected to generate approximately revenue Tk. 24 crore per year upon full rollout.
  • Impact for this news has been reflected on the trading of shares for GENEXIL and the share price has been risen to Taka 94.30 per share where the YCP(which is Yesterday closing Price) was Taka 92.70 per share.
  • By 11:29 AM, it seems the market has been experiencing profit taking attitude from investors after very rising movement from the beginning of trading today as many are expected to have mature shares today.
  • By now the DSEX has dropped to 6207.7 points.
  • The market turnover has already crossed Taka 800 crore (Tk. 8011.722 mn) by 11:32 AM.
  • It is 12:04 PM. Market is trying to bounce back again.
  • DSEX is now moving at 6198.84972 points. Though still 2.27549 points, 0.03672% high than previous day.
  • The market turnover has crossed Taka 1,000 crore (Tk. 10164.694 mn).
  • BEXIMCO (Bangladesh Export Import Company Ltd.) is running at top of the list for the highest traded value of Tk. 1,336.8180 mn.
  • It is 12:32 PM. Market has been experiencing continuous dips as DSEX goes below 6200 points again.
  • Number for the companies whose prices have decreased is leading to 181 against the number 159 for the companies whose prices have increased.
  • Market turnover has crossed Taka 1,200 crore (Tk. 12184.217 mn).
  • Now 1:15 PM, after Post-Closing session, at the end of today’s (Wednesday,  July 7, 2021) trading, DSE (Dhaka Stock Exchange) has ended RED with DSEX ended below 6200 points again to close at 6177.21946  points (-19.35477 points, a -0.31235% lower than previous day).
  • At the end of today’s trading, Market Turnover has also fall and closed within Taka 1,500-1600 crore range (TK. 15775.651 mn) today which has also decreased from yesterday’s value. It has decreased by over Taka 212 crore (Tk. 2,121.792 mn), -11.85528% from previous day’s turnover of Tk. 17897.443 mn.
  • Today a total of 372 company’s shares were traded. Among which prices have increased for 142 companies, prices have decreased for 205 companies and 25 companies have seen its prices remained unchanged.

  • Today’s  SECTORwise trading at DSE have seen TEXTILE sector to be at top with around 17% of today’s market share.
  • BEXIMCO (Bangladesh Export Import Company Ltd.) has again topped the list for highest traded shares in terms of total traded value of Tk. 1,623.5830 mn.
DSEX Graph, July 7, 2021
  • PAPERPROC (Paper Processing & Packaging Limited) along with BIFC (Bangladesh Industrial Fin. Co. Ltd) have  topped the list of most % price change with 10% price increase followed by TAMIJTEX , ISNLTD ,  SONALILIFE ,  MATINSPINN , FUWANGCER for which share prices have increased over 9%.
  • It seems like, stocks fell today riding on the profit-booking tendency among investors within the early hike in the market with high sell pressure within mind the record breaking COVID-19 tally in the country.

  • Sellers of four companies disappeared within an hour and a half of trading on the Dhaka Stock Exchange (DSE) on Wednesday. As a result, the shares of the companies are halted and the price is touching the circuit breaker. The companies are Bangladesh Industrial Finance Company, Paper Processing, and Tamiz Uddin Textile Limited, Sonali Life Insurance.
  • The seller’s slot was empty even though there was an application to buy 5 lakh 46 thousand 134 shares on the screen of Popular Life till 11:24 today. Shares of the company were last traded at Taka 79.20 during the period under review.
  • Meanwhile, at the same time, there were applications for the purchase of 252,853 shares on the screen of BIFC, but the seller’s house was empty. Shares of the company were last traded at Taka 7.60 during the period under review. The closing price of this share was 6 rupees yesterday.  At the same time, Tamiz Uddin Textile and Sonali Life Industries Limited have numerous buyers but no sellers.
  • Although the market has been on a rising trend for the last few months, many junk stocks and low profit-making companies have risen day by day mainly due to rumour-based trading.. These stocks are creating a balloon in the market that could burst at any time and so investors need to be cautious.
  • Since companies with good performance records survive even at the toughest of times, investors should seek out companies based on their fundamentals.
  • If peoples invest in well-performing companies, investors remain unscathed even if the market falls because these companies provide good dividends.

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

Till then Good Bye. Thank You.

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