DSE turnover surges on bank shares

The benchmark index of Dhaka Stock Exchange yesterday gained moderately driven by banking shares while turnover made a significant jump.

The DSEX went up by 29 points to 5,725. The total turnover of the country’s main exchange surged 27 percent to Tk 1,263 crore from the previous day.

Of the top 20 shares in terms of transaction value, 14 were from the banking sector, which accounted for one-fourth of all the securities traded on the day. AB Bank captured the attention of the investors, and its share price went up the highest – by 9.83 percent to Tk 26.8.

The bank’s shares worth Tk 73.6 crore changed hands, followed by City Bank’s Tk 47.5 crore and LankaBangla Finance’s Tk 43.8 crore. Experts said the announcement of dividends by Brac and Eastern banks have had a positive impact on the market.

Brac Bank has declared 10 percent cash and 20 percent stock dividends for 2016. The bank gave 25 percent cash dividend a year ago. Eastern Bank has recommended 20 percent cash dividend and 5 percent stock dividend for last year.

At the DSE, 129 securities gained, 169 declined and 28 remained unchanged. The DS30, comprising blue-chip companies, was up 4.37 points.

Among the large cap sectors, bank, non-banking financial institutions and telecommunications were the top gainers, while cement, service and real estate were the day’s top losers.

Source: The Daily Star

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