Brac Bank dominated the Dhaka Stock Exchange (DSE) turnover chart on Sunday while most ten-traded companies captured 35 per cent transactions.
Market analysts said investors were mostly on selling binge on Brac Bank shares as the bank recommended lower than expected dividend.
The board of directors of Brac Bank has recommended 15 per cent stock dividend for the year ended on December 31, 2018, disclosed on Sunday.
After the lower dividend news, the investors rushed for selling the bank's shares. Accordingly, its share price plunged 7.22 per cent to close at Tk 75.80 each on Sunday.
According to statistics from the premier bourse, about 2.87 million shares of Brac Bank were traded, generating a turnover of nearly Tk 219 million, which was 6.18 per cent of the prime bourse's total turnover.
The bank's share traded between Tk 63 and Tk 108.40 in the last one year.
The bank has also reported consolidated earnings per share (EPS) of Tk 5.17, consolidated net asset value (NAV) per share of Tk 32.87 and consolidated net operating cash flow per share (NOCFPS) of Tk 9.77 for the year ended on December 31, 2018 as against Tk 4.86, Tk 24.80 and Tk 19.93 respectively for the previous year.
The Brac Bank, which was listed on the Dhaka bourse in 2007, disbursed 25 per cent stock dividend for the year ended on December 31, 2017.
The bank's paid-up capital is Tk 10.72 billion and authorised capital is Tk 20 billion, while the total number of securities is 1.07 billion.
The sponsor-directors own 44.30 per cent stake in the bank, while the institutional investors own 7.65 per cent, foreign investors 41.72 per cent and the general public 6.33 per cent as on February 28, 2019, the DSE data shows.
United Power followed next, with shares worth Tk 162 million changing hands. The company's share closed at Tk 398.90 each, gaining 0.38 per cent over the previous session.
Dutch-Bangla Bank clinched the third spot, with shares worth Tk 149 million changing hands. The bank's share price advanced 5.68 per cent to close at 217.60 each.
Grameenphone emerged fourth with shares worth Tk 136 million changing hands. The company's share closed at Tk 401.40 each, gaining 1.03 per cent.
BATBC notched the fifth spot, with shares worth Tk 124 million changing hands. The company's share price fell 0.68 per cent to close at Tk 4,626.40 each.
The turnover of Shuwrid Industries was Tk 119 million. The company's share price shed 2.35 per cent to close at Tk 37.30 each.
Monno Ceramic featured a turnover of Tk 98 million. The company's share price closed at Tk 330.60, advancing 4.25 per cent.
The turnover of JMI Syringes was Tk 97 million. The company's share closed at Tk 355.60, soaring 8.74 per cent. It was also the day's highest gainer.
National Polymer featured a turnover of Tk 73 million. The company's share closed at Tk 92.30 each, rising 6.21 per cent over the previous day.
Legacy Footwear also made its way to the top 10 turnover chart, with shares of Tk 69 million changing hands. The company's share price closed at Tk 145.10, soaring 6.45 per cent over the previous day.
