& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Poor corporate earnings take toll on falling stocks

Star Business Report
Stocks dipped below the 4,100-point mark last week, after a two-week gaining streak, as poor earnings of listed firms dented investors’ confidence.
DGEN, the benchmark general index of Dhaka Stock Exchange, finished the week at 4,098.69 points, after plunging 186.27 points or 4.35 percent after 10 trading sessions.
"The Dhaka stockmarket is again in the falling trend, as most of the banks, non-bank financial institutions and some manufacturing companies reported lower earnings than their respective previous quarters," said LankaBangla Securities in its market analysis.
According to half-yearly declarations, banking sector's earnings declined by 9.4 percent compared to the previous half year, as most of the banks came up with higher provisioning during this quarter, the stockbroker said.
1DLC Investments said it seemed to be a disappointment for the investors as financial institutions along some companies released their half-yearly earnings which failed to meet the investors' expectation.
Moreover, negative latest quarter earnings by some banks further accelerated the market selloff, as it critically deteriorated investors' confidence, the merchant bank said.
“Encashment attitude ahead of the Eid festival further sped up the market fall. Deteriorated confidence, risk-aversion and encashment attitude and disinclination to make fresh investment accelerated the market fall throughout the week.”
Average daily turnover, the most vital indicator for the present market, stood at Tk 223 crore, a 4.40 percent fall compared to the previous week. Out of 275 issues traded,
58 advanced, 214 declined and three remained unchanged.
All the major sectors lost market price where telecom suffered the most with a decline of 6.78 percent, followed by non-bank financial institutions 6.59 percent, fuel and power 4.85 percent, banks 4.62 percent and pharmaceuticals 2.03 percent.
Seventeen companies, including eight mutual funds of the Investment Corporation of Bangladesh (ICB), made corporate declaration last week. The ICB approved 100 percent to 600 percent dividends on its eight mutual funds.
Bangladesh Submarine Cable Company topped the week’s turnover chart with shares worth Tk 69 crore changing hands.
The Second ICB Mutual Fund was the biggest gainer of the day, posting a rise of 46.21 percent, while the ICB AMCL Third NRB Mutual Fund featured in the top losers' chart, slumping by 16.95 percent.