Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Monday’s evening business round up compiling reports, published by different newspapers and news portals.
Bangladesh’s stocks post marginal gain for fourth day
Bangladesh’s stocks posted a marginal gain on Monday, extending the winning streak for the fourth straight sessions, as investors remained active on major sectors stocks. DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 15.73 points or 0.29 per cent to settle at 5,344. It has been the highest since July 4, 2019, when DSEX was 5,380. The Chittagong Stock Exchange (CSE) also edged higher with its All Shares Price Index (CASPI) – gaining 47 points to close at 15,407 while the Selective Categories Index – CSCX – rising 29 points to close at 9,292.
Indian rupee ends 6 paisa higher at 73.49 against US dollar
The Indian rupee appreciated by 6 paisa to close at 73.49 (provisional) against the US dollar on Monday, tracking weakness in the American currency and positive domestic equities. The sustained foreign fund inflows also supported the rupee, traders said.
Asian stocks making the biggest moves premarket
The China e-commerce giant saw its shares plunge for the second straight session overnight to their lowest level since June. Alibaba announced it was increasing its share buyback program to $10 billion from $6 billion, but the move failed to ease concerns about a regulatory crackdown by the Chinese government. “Wonder Woman 1984”, produced by AT&T’s Warner Bros. unit, led the weekend box office with $16.7 million in North American ticket sales. That number is low by historical standards but is the strongest debut for any movie since the pandemic began. “Wonder Woman” debuted simultaneously in theaters and on the company’s “HBO Max” streaming service.
Oil rises after Trump signs aid bill
Oil rose towards $52 a barrel on Monday as U.S. President Donald Trump’s signing of a coronavirus aid package and the start of a European vaccination campaign outweighed concern about weak near-term demand. Brent crude rose 43 cents, or 0.84%, to $51.72 a barrel, reversing an earlier decline. U.S. West Texas Intermediate (WTI) crude added 45 cents, or 0.93%, to $48.68.
Oil and gas price volatility likely to continue in 2021, say experts
The oil and gas sector this year faced unprecedented headwinds, with West Texas Intermediate (WTI) crude oil prices entering negative territory for the first time in history. This was driven by a global demand slowdown, induced by Covid-19 lockdowns in April. WTI is used as a benchmark for crude oil sale in North America. It fell to minus $40 a barrel in April. This means producers were paying those with adequate space to keep crude oil. While Brent, the more popular global benchmark, and the Indian basket of crude oil did not reach those lows, there was significant pressure on.