Dhaka stocks in red for third week

Dhaka stocks ended in the red for the third straight week amid slight increase of turnover as investors remained sceptical about the political uncertainty and
poor performance of the listed companies.
DSEX, the benchmark general index of Dhaka Stock Exchange, lost 1.01 per cent or 35.38 points, to close at 3,468.18 points.
The previous benchmark index of the bourse, DGEN, ended flat by increasing 0.03 per cent or 0.98 point to lose at 3,654.86 points.
The DSEX lost 86 points and the DGEN lost 65 points in last three weeks after gaining in the previous two.
The blue-chip index of the Dhaka bourse, DS30, lost 1.83 per cent or 23.99 points, to close at 1,284.38 points.
Average daily turnover of DSE inched up 2.57 per cent to Tk 138.61 crore in last week from that of Tk 135.14 crore in the week before.
Market operators said investors were sceptical last week and refrained from injecting fresh fund as they feared that the ongoing political unrest might get intense in the coming days.
They also said the investors were also worried about the negative impact of Savar building collapse that killed more than 500 garment workers because of the factory owners’ and building owner’s negligence.
The Savar tragedy after the Tazreen fire in last November exposed the garments sector, the highest export sector of the country, to a serious threat on the international market, they said.
‘If the garment sector faces a setback it will hurt the entire economy and the stock market as well,’ said a stockbroker.
He said the European Union, the largest trading partner of Bangladesh, already announced to take measures against the country’s duty free access to European countries after the Savar incident.
‘The tight political situation can turn violent again which is also another concern for the investors,’ he said.
Forty-seven listed companies made their corporate declarations during the week but most of those failed to meet investors’ expectation.
Of the total 289 companies and mutual fund traded last week, 121 advanced, 156 declined and 12 remained unchanged.
Most of the major sectors performed well last week, except for banks and pharmaceuticals that lost 0.90 per cent and 0.67 per cent respectively.
Non-bank financial institution was the highest gainer by advancing 2.04 per cent, followed by telecommunications 1.02 per cent and fuel and power 0.63 per cent.
RN Spinning was the turnover leader last week with shares worth Tk 27.66 crore changing hands. The other turnover leaders were Beximco, United Airways, Orion Pharma, Square Pharma, Bengal Windsor Thermoplastic, Golden Harvest Agro Industries, Olympic Industries and Titas Gas.

-With New Age input

Related News

Islami Bank wins ICMAB Best Corporate Award 2021

Business Desk : dhakamirror.com Islami Bank Bangladesh Limited IBBL won the ICMAB Best Corporate Award 2021 for “Private Commercial Bank (Islamic Operation)”. Commerce Minister Tipu Munshi handed over the award to Muhammad Qaisar Ali, additional managing director of the bank Thursday (1 December) at a ceremony held at Hotel InterContinental Dhaka. JQM Habibullah, additional managing ... Read more

Brac Bank holds fire safety awareness sessions during Fire Service Week

Business Desk : dhakamirror.com To observe Fire Service Week, Brac Bank held a fire safety awareness event for its people in conjunction with the Fire Service and Civil Defence Department. The bank arranged a fire safety drill at its head office in Dhaka on 17 November, said a press release. The department observes Fire Service ... Read more

Premier Cement Mills PLC obtains ICMAB ‘Gold Award’ for cement manufacturing

Business Desk : dhakamirror.com Once again, Premier Cement Mills PLC has taken home the Gold in the Cement Manufacturing category at the ICMAB Best Corporate Award 2021. Mohammed Amirul Haque, managing director of Premier Cement Mills PLC, received the award from Commerce Minister Tipu Munshi at a city hotel on 1 December.  Among others Federation ... Read more

IPDC Finance took home “gold” for ICMAB Best Corporate Award 2021

Business Desk : dhakamirror.com IPDC Finance was honored with the Gold Award in the NBFI category at the ICMAB Best Corporate Award 2021. The awards event took place on Thursday, December 1 at the Intercontinental Dhaka, said a press release issued in this regard. Commerce Minister Tipu Munshi handed over the awards to the recipients as ... Read more

Agora, BD Recycle Technologies to work on solid-waste management 

Business Desk : dhakamirror.com Agora Limited has recently joined hands with BD Recycle Technologies Limited (BRTL) to work together with the goal of ensuring sustainable solid-waste management. A memorandum of understanding has been signed in this regard, where these two institutions will work towards environmental protection through modernisation of waste management, reads a press release. ... Read more

ICMAB Best Corporate Award goes to 65 firms

Business Desk : dhakamirror.com A total of 65 businesses were awarded the “Best Corporate Award 2021” by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) for their efforts in establishing corporate governance. After examining each company’s annual report, the ICMAB presented them with honors Thursday night at a local hotel during its annual ... Read more

Meghna Bank to avail mobile financial solution platform

Business Desk : dhakamirror.com Meghna Bank recently signed a tripartite agreement with ModeFinServer Private and Genex Infosys at the bank’s head office in Gulshan, Dhaka to avail a mobile financial solution platform from the former and provide logistics and localisation support from the latter.  Sohail RK Hussain, managing director of Meghna Bank, Amarnath Chowdhury, managing ... Read more

Citibank NA appoints New Country Officer in Bangladesh

Business Desk : dhakamirror.com Citibank NA Bangladesh recently appointed a new country officer.  The appointee, Md Moinul Huq, joined Citibank NA in 2002 and previously worked for Al Baraka Bank and Dhaka Bank, said a press release. As country officer, Huq will lead the Citi franchise in Bangladesh and will be responsible for Citi’s business ... Read more

Shwapno establishes new outlet at Aftabnagar Siraj Convention Centre

Business Desk : dhakamirror.com A new outlet of the retail shop Shwapno was inaugurated at the Siraj Convention Centre in Aftabnagar, Dhaka. An event was held to mark the occasion on Tuesday noon, reads a press release issued in this regard. The programme was attended by landowner Md Siraj, Shwapno Head of Retail Administration Saiful ... Read more

Rezina Parveen becomes DMD of Agrani Bank

Business Desk : dhakamirror.com Rezina Parveen was recently appointed as the Deputy Managing Director of Agrani Bank Limited. She formerly held the position of General Manager at Janata Bank, where she gained both respect and success, before moving on to Agrani Bank. She served as acting CEO of Janata Capital and Investment Limited, which is ... Read more

Janata Bank assists Bangladesh Kabaddi Federation financially

Business Desk : dhakamirror.com Janata Bank Limited recently gave money to the Bangladesh Kabaddi Federation to help them set up an independent welfare fund to pay for injured players’ medical bills. A press release says that Abdus Salam Azad, MD and CEO of Janata Bank and Vice-President of Bangladesh Kabaddi Federation, gave the donation check ... Read more

Two-day ‘Bima Mela’ was organized at Barishal

Rupali Insurance demonstrated the most innovative customer service during the event. Business Desk : dhakamirror.com On the 24th and 25th of November, 81 property, casualty, and life insurance companies displayed their products during the two-day “Bima Mela 2022” in Barishal. Visitors were happy to take part in a variety of games and activities organized by ... Read more

MTB Foundation and Buet provide student scholarships

Business Desk : dhakamirror.com The Bangladesh University of Engineering and Technology (Buet) and the Mutual Trust Bank (MTB) Foundation recently held a “Saifuddin Ahmed Chowdhury Memorial Scholarship” program at the Buet academic council bhaban in Dhaka. The programme aims to provide funds on a monthly basis to 33 students of 12 departments, said a press ... Read more

Jamuna Bank Foundation holds free plastic surgery camp

Business Desk : dhakamirror.com A free plastic surgery camp for cleft lip, palate, and burn patients was held at Munshiganj General Hospital by Jamuna Bank Foundation. Specialized doctors from the Netherlands provided treatment during the camp, reads a press release. Local government Tazul Islam attended the camp as the chief guest. Chairman of Jamuna Bank ... Read more

Disney Star and Beximco Digital Distribution reach broadcast agreement in Bangladesh

Business Desk : dhakamirror.com Beximco Digital Distribution Limited (BDDL), a concern of Beximco Group has signed a deal with Disney Star to distribute eight of their popular entertainment television channels across Bangladesh via paid television service through cable, IPTV, and OTT. The collaboration will see BDDL distribute Disney Star’s channels in the original languages of ... Read more

6 Organizations and 5 Individuals get Best CSR Awards 2022

Business Desk : dhakamirror.com Six organizations and five individuals were recognized with “A Better Tomorrow CSR Awards 2022” for making positive contributions to society through various projects. The awards were presented by Planning Minister Abdul Mannan at a ceremony held at Le Meridian Dhaka in the capital, according to a press release. The Daily Star ... Read more

Nagad gets two MasterCard Excellence Awards 2022

Business Desk : dhakamirror.com The Postal Department’s Nagad mobile financial service won the “Mastercard Excellence Award 2022” for its digital innovation in Bangladesh’s financial industry. According to a press release, Nagad won its second online award for its outstanding merchant business contributions. Mastercard recently held the “Mastercard Excellence Award 2022” ceremony in Dhaka’s five-star hotel ... Read more

Rupali Bank made Tahmina Akhter DMD

Business Desk : dhakamirror.com Rupali Bank Limited has appointed Tahmina Akhter to the position of Deputy Managing Director (DMD). The Financial Institutions division of the Ministry of Finance issued a circular in this regard recently, reads a press release.  Before joining as DMD, she successfully served as general manager in the same bank. Tahmina Akhter ... Read more

Asian Banker named Islami Bank as ‘Strongest Bank’

Business Desk : dhakamirror.com Singapore-based banking and financial intelligence platform The Asian Banker has named Islami Bank Bangladesh the “Strongest Bank in Bangladesh” and the “Strongest Islamic bank in Bangladesh” for 2022. Foo Boon Ping, the platform’s managing editor, announced this on Thursday through a virtual platform which was joined by Mohammed Monirul Moula, managing ... Read more

1000th sub-branch of IFIC Bank opens in Meherpur

In an effort to create the most extensive and technologically advanced banking network in the country, IFIC Bank has inaugurated its 1000th sub-branch in Mujibnagar, Meherpur. The bank’s chairman and Adviser on Private Industry and Investment to the Prime Minister Salman F Rahman and State Minister for Public Administration Farhad Hossain was present as the ... Read more