Bangladesh (Commonwealth) _Yesterday was the fourth trading day in a row that Bangladeshi stock market indexes were in the negative, as cautious investors continued to place bets on profitable blue-chip businesses despite price swings.
An investor in Dhaka stated that the market was still in a volatile state since the interim administration had not yet implemented any concrete steps to restore proper governance to the market.
He said that it will take some time since, following the fall of the Awami League administration led by Sheikh Hasina, new chairmen had been nominated to the Dhaka Stock Exchange (DSE) and the Bangladesh Securities and Exchange Commission.
The DSE’s benchmark index closed at 5,715, down 60.13 points, or 1.04 percent, from the previous day.
Similarly, the Shariah-based companies index, the DSES, down 16.46 points, or 1.32 percent, to 1,229, while the blue-chip companies index, the DS30, fell 27.87 points, or 1.31 percent, to 2,093.
The market capitalization of firms represented by the CDSET index, which measures the current total value of their shares, decreased by 1.08 percent to 1,126.18 points. Similar declines were observed at the Chittagong Stock Exchange, where the all-share price index fell 185.92 points, or 1.12 percent, to close the day at 16,430.
According to BRAC EPL Stock Brokerage’s daily market update, yesterday’s performance was negative for the majority of the sectors that include these large-cap stocks. With a loss of 2.91 percent, telecommunication was the most negatively impacted industry, followed by food and related, pharmaceuticals, non-bank financial institutions (NBFI), and 1.85, 1.84, and 1.05 percent, respectively.
Additional industries that saw losses were banking (0.80%), engineering (0.72%), and gasoline and electricity (0.13%).The top three industries that closed in the black were jute, tannery, and fuel and power.
The entire value of shares exchanged at the nation’s top exchange, or turnover, was Tk 518.6 crore, down 37.75% from the previous day’s trading session. With a share of the day’s total market turnover of 22.18 percent, the banking industry led the turnover chart.
Block trades, or large volume transactions in securities that are arranged and executed secretly outside of the open market, accounted for 3.8% of the day’s total market turnover. Grameenphone, with a Tk 53.4 crore turnover, was the most traded share. Of the 397 scrips that were traded on the DSE, 64 saw price increases, 301 saw price decreases, and 32 saw no change in price.
The most popular stocks among investors were those of Lub-rref Bangladesh, Al-Arafah Islami Bank, BRAC Bank, Navan Pharmaceuticals, Pragati Life Insurance, Midland Bank, JMI Hospital Requisite Manufacturing, MJL Bangladesh, Power Grid Company of Bangladesh, United Commercial Bank, and MJL Bangladesh.
Poor performance was shown by IFIC Bank, LafargeHolcim Bangladesh, National Bank, Robi Axiata, Beximco Pharmaceuticals, BAT Bangladesh, Renata, and Islami Bank Bangladesh. Top of the gainers’ chart was Aman Feed, up 7.08 percent.
Strong performances were given by Midland Bank, Desh Garments, NRB Bank, Al-Arafah Islami Bank, Lub-rref Bangladesh, and Pragati Life Insurance. Among the gainers were Al-Haj Textile Mills, Saiham Cotton Mills, Navana Pharmaceuticals, and Hami Industries. With a 4.78 percent loss, Islami Bank Bangladesh had the most losses.
Additional companies that experienced losses included IDLC Finance, National Tea Company, Heidelberg Materials Bangladesh, Union Bank, Beximco Pharmaceuticals, Shinepukur Ceramics, Rupali Life Insurance, Orion Infusion, Desh Bandhu Polymer, Taufika Foods, and Lovello Ice Cream.
The transshipment of ready-made clothing via Delhi was briefly stopped by the recent political unrest in Bangladesh, but the situation has since improved. Currently in way to Delhi, consignments that were delayed at the India-Bangladesh border have arrangements in place for expeditious clearance of the commodities for their re-export.
After receiving and processing the first shipment of cargo from Bangladesh in February of last year, Delhi Airport established itself as a major transshipment freight hub in the area. Bangladesh accounted for 13,000 tons of cargo handled by Delhi airport in FY24.
Meanwhile, Clothing made in Bangladesh is mostly exported to France, the Netherlands, Spain, and the United Kingdom. Every year, the months of August through December and February through March are when the most clothing is exported. However, compared to the January–March quarter, the amount of exports from Bangladesh that Delhi Airport handled dropped by 30% in the April–June quarter. A representative for Delhi International Airport Ltd (DIAL) stated that this was because of the lean season and the current state of affairs in Bangladesh.
