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The Financial Express

Banking sector accounts for 29pc transactions on DSE

| Updated: December 06, 2021 10:12:47


Banking sector accounts for 29pc transactions on DSE

The heavyweight banking sector accounted for 29 per cent of transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with four banks making their way to the list of ten most-traded stocks.

Investors were mostly active in the banking sector stocks ahead of their year-end, as many banking shares are still lucrative, according to a stockbroker.

Meanwhile, the ten most-traded stocks accounted for more than 41 per cent transactions on the prime bourse while Beximco dominated the weekly turnover chart.

The four banks which featured in the week's top turnover list are ONE Bank, First Security Islami Bank, IFIC Bank and BRAC Bank. The banking sector also surged 1.80 per cent during the week.

Bangladesh Export Import Company (Beximco) -- the flagship company of Beximco Group -- topped the turnover chart, with shares worth Tk 5.52 billion changing hands during the week. It grabbed 10.96 per cent of the week's total turnover.

Beximco Group companies have led the market from the front in the past few months as investors showed their buying appetite for their stocks, market insiders said.

The company's share price, however, dropped 1.18 per cent to close at Tk 168.20 on Thursday.

The company's EPS soared 2835 per cent to Tk 4.11 for July-September 2021, as against Tk 0.14 in the corresponding period of the previous year.

"Exploring new markets and product lines in textile, the company executed more orders and because of Covid-19, old orders also executed in the current year which impacted its revenue and thus increased earnings per share," according to a disclosure.

ONE Bank came second on the turnover chart, with shares worth Tk 4.28 billion changing hands. The bank's share price advanced 1.59 per cent to close at Tk 19.20 each on Thursday.

First Security Islami Bank clinched the third spot, with shares worth Tk 1.99 billion changing hands. The bank's share closed at Tk 15.30, soaring 9.29 per cent.

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