The Dhaka Stock Exchange (DSE) saw a turnover of Tk 296 crore, the lowest in two and a half months, as cautious investors sold shares to avoid further losses, marking a 6.83% decrease from the previous day. The benchmark DSEX index fell by 49.75 points (0.93%) to 5,316, while the DSES and DS30 indices also declined. The banking sector dominated turnover at 22.86%, and Taufika Foods and Lovello Ice-cream were the most traded shares. Among the gainers, Libra Infusions rose by 7.50%, while Union Insurance Company faced the largest drop at 9.85%. Overall, 53 stocks advanced, 300 declined, and 42 remained unchanged.

In the first quarter of fiscal year 2024-25, government food distribution under various social protection schemes fell by 14% year-on-year, primarily due to a significant reduction in grain transfers under the Food for Work (FFW) and Food Friendly Programme (FFP). Between July 1 and October 10, public agencies distributed 750,000 tonnes of rice and wheat, down from 875,000 tonnes during the same period last year.

Notably, FFW distribution plummeted to just 74 tonnes from 10,000 tonnes a year earlier, while the Vulnerable Group Feeding scheme saw a decrease to 15,800 tonnes from 28,000 tonnes. In contrast, the Gratuitous Relief scheme nearly tripled, reaching 27,830 tonnes, largely due to relief efforts for flood-affected districts. Although the government has achieved near self-sufficiency in rice production, challenges remain, with high food prices impacting the purchasing power of low-income households. The food ministry is expected to distribute an additional 150,000 tonnes of rice under the FFP in the coming weeks.

The interim government has opted not to proceed with an agreement with US-based Excelerate Energy for a new regasification plant for liquefied natural gas (LNG), following the cancellation of a similar deal with Summit Group for a third floating storage and regasification unit (FSRU). Petrobangla officials confirmed that a memorandum of understanding (MoU) with Excelerate, signed in November, has been revoked as the government reviewed previous agreements made without a tender process. While both current FSRUs are set to be operational by late 2026, Petrobangla plans to invite tenders for any new FSRUs, allowing Excelerate to participate. Additionally, Excelerate’s recent bid to supply LNG was canceled due to insufficient bids, with plans to re-invite suppliers in the future.