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Banking sector snares 28pc turnover of DSE

Five banks among top 10 turnover cos


FE Report | January 24, 2019 00:00:00


The banking sector grabbed 28 per turnover of the Dhaka Stock Exchange (DSE) on Wednesday.

Five banks featured in the top turnover chart after long time.

Five banks -- Premier Bank, IFIC Bank, City Bank, National Bank and Dhaka Bank- accounted for 14 per cent of the day's total turnover.

Market analysts said investors continued their focus on the banking sector issues ahead of year-end earnings reports and dividend expectations.

The banking sector also posted the highest gain of 3.12 per cent on Wednesday with all the 30 banks closed green.

The financial sector and multinational sector will declare dividend soon as their year ended on December 31, 2018.

According to statistics available with the DSE, about 26.10 million shares of Premier Bank were traded, generating a turnover of Tk 446 million, which was 4.26 per cent of the DSE's total turnover.

The total turnover on the DSE stood at Tk 10.45 billion on Wednesday which was Tk 8.85 billion on the previous session.

The bank's share price closed at Tk 17 each, gaining 3.65 per cent over the previous day. Its share traded between Tk 9.70 and Tk 17.70 in the last one year.

The Premier Bank, which was listed on the DSE in 2007, disbursed 15 per cent stock dividend for the year ended on December 31, 2017.

The bank's consolidated earnings per share (EPS) stood at Tk 0.44 for July-September 2018 as against Tk 0.50 for July-September 2017.

In nine months for January-September 2018, consolidated EPS was Tk 1.40 as against Tk 1.37 for January-September 2017.

The bank's paid-up capital is Tk 8.0 billion, authorised capital is Tk 10 billion and the total number of securities is 800.08 million.

The sponsor-directors own 35.22 per cent stake in the bank, while institutional investors own 18.59 per cent, and the general public 46.19 per cent as of December 31, 2018.

United Power followed next, with shares worth Tk 405 million changing hands. The power generation company's share closed at Tk 368.70, advancing 0.93 per cent over the previous day.

IFIC Bank clinched the third spot, with shares worth Tk 331 million changing hands. The bank's share soared 9.85 per cent to close at Tk 15.60. It was the day's second highest gainer.

City Bank emerged fourth with shares worth Tk 277 million changing hands. Its share closed at Tk 34.40 each, gaining 4.87 per cent.

Legacy Footwear notched the fifth spot, with shares worth Tk 250 million changing hands. The company's share price advanced 2.38 per cent to close at Tk 219.40.

The turnover of Sonar Bangla Insurance was Tk 245 million. The company's share price soared 9.21 per cent to close at Tk 39.10.

United Finance featured a turnover of Tk 193 million. The company's share price closed at Tk 28.60 each, soaring 10 per cent. It was also the day's highest gainer.

The turnover of National Bank was Tk 192 million. Its share price closed at Tk 11.80 each, advancing 5.35 per cent over the previous day.

Dhaka Bank featured a turnover of Tk 187 million. The company's share price advanced 0.53 per cent to close at Tk 19 each.

Saiham Cotton Mills was also included in the top 10 turnover chart with shares of Tk 178 million changing hands. The bank's share price closed at Tk 27.90 each, gaining 2.95 per cent over the previous day.

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