DBBL and Bank Asia climb amid market decline in early session

Most businesses’ shares declined in the morning trade on the Dhaka Stock Exchange (DSE), extending a four-day losing run.

The benchmark index, DSEX, fell 27.63 points, or 0.47 percent, to 5736.14 at 11 a.m. today.

The DSE-30 index, which represents blue-chip shares, and the DSES, the primary bourse’s Shariah-based index, both fell in the first hour of trade.

During the slump, shares of Dutch-Bangla Bank Plc (DBBL) rose 6.09 percent to Tk 57.5 as of 11.12 a.m., after its board recommended 17.5 percent cash and 17.5 percent equity dividends based on improved earnings in 2023.

Bank Asia rose 1.09 percent to Tk 18.6 on the DSE until 11.14 a.m., on news that it is preparing to buy the Bangladesh operations of Karachi-based Bank Alfalah.

Bank Alfalah informed the Pakistan Stock Exchange yesterday that its board has approved in principle a non-binding bid made by Bank Asia to take over Bank Alfalah’s Bangladesh unit.

Scroll to Top