Banking sector grabs 21pc of DSE turnover


FE Report | Published: January 25, 2019 10:39:25 | Updated: January 28, 2019 10:26:51


Banking sector grabs 21pc of DSE turnover

The banking sector grabbed 21 per cent of turnover on the Dhaka Stock Exchange (DSE) on Thursday, with four banks featuring in the top turnover chart.

The four banks -- Premier Bank, IFIC Bank, Dhaka Bank and City Bank -- also jointly accounted for 10 per cent of the total turnover.

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

The banking sector posted a 0.50 per cent gain on the day, with 14 listed banks, out of 30, closing green.

The United Power & Distribution Company, however, topped the DSE turnover chart and top ten most traded companies captured 24 per cent of the day's total turnover.

According to statistics from the DSE, about 1.19 million shares of the United Power were traded, generating a turnover of Tk 444 million, which was 4.28 per cent of the total turnover.

The total turnover on the DSE stood at Tk 10.37 billion on Thursday, down from Tk 10.45 billion in the previous session.

The power generation company's share price closed at Tk 371.60 each, gaining 0.78 per cent over the previous day. Its share price also hit one-year high on Thursday and traded between Tk 149.70 and Tk 375 in the last one year.

The United Power, which was listed on the DSE in 2015, disbursed 90 per cent cash and 20 per cent stock dividends for the year ended on June 30, 2018.

The company's consolidated earnings per share (EPS) stood at Tk 3.71 for July-September, 2018 as against Tk 2.23 for July-September, 2017.

The company's paid-up capital is Tk 4.70 billion, authorised capital is Tk 8.0 billion and the total number of securities is 479.08 million.

The sponsor-directors own 90 per cent stake in the company, while institutional investors own 5.43 per cent, foreign investors 0.13 per cent and the general public 4.44 per cent as of December 31, 2018.

Premier Bank followed next, with shares worth Tk 411 million changing hands. The bank's share closed at Tk 17.10, advancing 0.59 per cent over the previous day.

United Finance clinched the third spot, with shares worth Tk 354 million changing hands. The company's share soared 9.79 per cent to close at Tk 31.40. It was the day's fifth highest gainer.

IFIC Bank emerged fourth with shares worth Tk 233 million changing hands. Its share closed at Tk 16.10 each, gaining 3.20 per cent.

Dhaka Bank notched the fifth spot, with shares worth Tk 199 million changing hands. The bank's share price fell 2.10 per cent to close at Tk 18.60.

The turnover of JMI Syringes was Tk 185 million. The company's share price shed 2.65 per cent to close at Tk 401.70.

City Bank featured a turnover of Tk 171 million. The company's share price closed at Tk 34.50 each, inching up 0.29 per cent.

The turnover of Bangladesh Submarine Cable Company was Tk 161 million. The state-run company's share closed at Tk 128.60 each, advancing 2.39 per cent over the previous day.

BBS Cables featured a turnover of Tk 145 million. The company's share price rose 2.62 per cent to close at Tk 109.60 each.

Square Pharmaceuticals was also included in the top 10 turnover chart with shares of Tk 141 million changing hands. The company's share price closed at Tk 265 each, losing 0.78 per cent over the previous day.

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