DSE Weekly Roundup: June 21-25, 2026 - BXPHARMA 29% EPS Jump; Insurance Sector Locks AAA

The Dhaka Stock Exchange finished its fourth week of June on a firmer note, with the DSEX gaining 35.99 points to close at 5,652.82 on Thursday, June 25. Total turnover for the day reached Tk 1,054.26 crore on a volume of 322.86 million shares, with 285 stocks advancing against just 50 decliners. The week's price action was split: heavy distribution on Sunday and Monday (when losers outnumbered gainers by a wide margin) gave way to a sharp reversal from Tuesday onward, when insurance and bank earnings lifted broad sentiment.

Five trading sessions, two clear halves. The market opened the week bleeding (June 22 saw 311 losers vs only 40 gainers), then staged a four-day rally that pushed DSEX to its highest close since early June. Earnings, credit rating upgrades, and a flood of board meeting notices did most of the work.

Market overview

Daily breadth flipped dramatically midweek. Sunday and Monday were sell-dominated, with losers exceeding gainers by roughly 4-to-1 and 7-to-1 respectively. Tuesday through Thursday reversed the script: gainers hit 291 on Tuesday, settled at 177 on Wednesday, and peaked at 285 on Thursday, when total value traded touched Tk 1,054 crore.

Date	Gainers	Losers	Unchanged	Volume (shares)	Value (Tk crore)
Sun, Jun 21	69	287	40	314,104,515	954.26
Mon, Jun 22	40	311	45	273,168,991	845.65
Tue, Jun 23	291	47	58	239,836,315	795.29
Wed, Jun 24	177	148	71	259,989,219	898.38
Thu, Jun 25	285	50	61	322,855,687	1,054.26

Indices at a glance (June 25 close):

• DSEX: 5,652.82 (+35.99, +0.64%); week high 5,660.97, week low 5,616.83
• DSES (Shariah): 1,143.65 (+3.33, +0.29%)
• DS30: 2,131.16 (+3.67, +0.17%)

The DSES Shariah index gained 3.33 points and the DS30 blue-chip index added 3.67 points on Thursday, confirming the rally had broad participation across both conventional and Islamic sleeves.

Credit ratings: insurance and banking dominate the upgrade list

Eleven companies received fresh credit rating actions this week. Insurance and bank names dominated the high end of the ratings table.

Company	Long-term	Short-term	Outlook	Agency
PIONEERINS	AAA	ST-1	Stable	Alpha
ASIAPACINS	AAA	ST-1	Stable	Alpha
DUTCHBANGL	AAA	ST-1	Stable	CRAB
DGIC	AA+	ST-1	Stable	Alpha
NCCBANK	AA+	ST-1	Stable	CRISL
STANDBANKL	AA	ST-2	Developing	NCR
RAKCERAMIC	AA-	ST-2	Stable	CRISL
UCB	AA-	ST-2	Developing	ECRL
DBLPBOND	AA- (Bond)	—	Stable	ECRL
SEB1PBOND	A+ (Bond)	—	Stable	ECRL
SBACBANK	A	ST-3	Stable	CRISL

Three insurers and one bank landed in the top AAA tier. PIONEERINS, ASIAPACINS, DGIC, and NCCBANK were reaffirmed with stable outlooks. RAKCERAMIC retained AA- with stable outlook despite the broader ceramics sector pressure. Two private bonds were also rated: DBLPBOND (AA-) and SEB1PBOND (A+).

For readers new to DSE ratings, our DSE price limits and circuit breaker guide covers how daily and weekly price limits interact with broader risk metrics like credit ratings.

Earnings highlights: BXPHARMA posts 29% EPS jump

Pharmaceuticals led Q1 disclosures. The headline number came from BXPHARMA, which posted a consolidated Q3 (January-March 2026) EPS of Tk 4.98, up 29% from Tk 3.86 a year earlier. Nine-month EPS reached Tk 15.56 vs Tk 11.73 in the prior year period. Consolidated NAV per share climbed to Tk 134.60 from Tk 115.21, and NOCFPS jumped to Tk 16.74 from Tk 9.46, a 77% rise in operating cash flow per share.

ISLAMIINS also reported Q1 numbers: EPS rose to Tk 1.02 from Tk 0.80, a 27.5% increase year-on-year. NOCFPS climbed to Tk 1.48 from Tk 0.12, while NAV per share moved to Tk 24.67 from Tk 23.62.

BIFC posted a Q1 loss of Tk (1.81) per share, slightly wider than the Tk (1.65) loss in Q1 2025. NAV per share remained negative at Tk (133.58).

NHFIL reported Q1 EPS of Tk 0.23 vs Tk 0.22 restated a year earlier. NOCFPS dropped sharply to Tk 4.77 from Tk 8.61 restated.

Company	Period	EPS (Tk)	Prior year	NAV/share (Tk)	NOCFPS (Tk)
BXPHARMA (Cons.)	Q3 (Jan-Mar 2026)	4.98	3.86	134.60	16.74
ISLAMIINS	Q1 (Jan-Mar 2026)	1.02	0.80	24.67	1.48
BIFC	Q1 (Jan-Mar 2026)	(1.81)	(1.65)	(133.58)	(0.02)
NHFIL	Q1 (Jan-Mar 2026)	0.23	0.22	17.06	4.77

PRAGATILIF also released corrected Q1 figures during the week. Its Life Insurance Fund balance stood at BDT 8,185.61 million as of March 31, 2026, up from BDT 6,748.73 million a year earlier, a Tk 1,436.88 crore increase in the policyholders' fund.

Dividend declarations: PRAGATILIF leads with 25% total payout

Five dividend declarations crossed the wire this week. PRAGATILIF was the biggest mover with a 15% cash plus 10% stock dividend (25% total) for the year ended December 31, 2025. The board cited three reasons for the stock component: BMRE (building construction), paid-up capital increase, and investment.

Company	Dividend	Record date	AGM date	FY
PRAGATILIF	15% cash + 10% stock	14-Jul-2026	13-Aug-2026	Dec 2025
ISLAMIINS	16% cash	20-Jul-2026	27-Aug-2026	Dec 2025
BXPHARMA	(continued — Q3 disclosures)	—	—	Jun 2025
NHFIL	(continued — Q1 disclosures)	—	—	Dec 2025
BIFC	No dividend	30-Jul-2026	TBA	Dec 2025

ISLAMIINS declared a 16% cash dividend on FY2025 EPS of Tk 3.04, slightly down from Tk 3.41 the prior year. BIFC declared no dividend, with a record date set for July 30. BXPHARMA and NHFIL dividend details were issued as continuation news tied to their respective earnings releases.

For a refresher on how record dates work and why they matter for dividend eligibility, see our DSE Record Date vs Ex-Date guide.

Corporate actions and board changes

The week's corporate headlines were dominated by broker-level housekeeping and a few senior appointments.

• Broker withdrawals: Sinha Securities (TREC 67) withdrew four authorized representatives; Remons Investment & Securities (TREC 108) withdrew one; LankaBangla Securities (TREC 132) withdrew two.
• Company secretary appointments: NRBBANK appointed Mr. Manzurul Ahsan, FCS as Company Secretary (effective from the board's April 30 meeting); ABBANK appointed Mr. Md. Rafiqul Islam Khan, FCS effective June 23, 2026.
• Subsidiary capital: MALEKSPIN's subsidiary received approval to raise its paid-up capital.
• Insider activity at PRIMEBANK: Multiple insider declarations crossed the wire. EC Holdings Limited (Corporate Director) bought 1,160,507 shares; Sponsor Director Quazi Shirajul Islam bought 971,797 shares; Director Tanveer A. Chowdhury bought 970,973 shares. Separately, Sponsor Mohammed Nader Khan sold 10,178,866 shares.

Regulatory notes and BSEC reminders

BSEC ran its recurring "Awareness Message for Investors" notice across multiple sessions during the week, repeating three core warnings: avoid rumors at the time of trading (since rumor-spreading is prohibited), trade only through authorized representatives, and verify any unsolicited advice about specific stocks before acting.

Separately, a Financial Express report flagged regulatory scrutiny on IPDC's recent price surge. The story ran on June 22 and reinforces the broader BSEC stance against unusual price movements in low-float or thinly-traded names.

Board meetings on the calendar

Seventeen board meeting notices hit the tape this week, mostly covering Q1 financials scheduled for late June and early July. Here's the consolidated schedule:

Company	Meeting date	Purpose
FIRSTFIN	Jun 28, 2026	Q1 unaudited + FY2025 audited
MEGHNALIFE	Jun 28, 2026	Q1 unaudited + FY2025 audited
PRIMEFIN	Jun 29, 2026	Q1, Q2, Q3 unaudited (FY2024)
DELTALIFE	Jun 29, 2026	Q1 unaudited
PHOENIXFIN	Jun 29, 2026	FY2025 audited
BESTHLDNG	Jun 29, 2026	FY2025 audited (year ended June)
PLFSL	Jun 30, 2026	Q1 unaudited + FY2025 audited
BAYLEASING	Jun 30, 2026	FY2025 audited
BAYLEASING	Jul 1, 2026	Q1 unaudited

ISLAMIBANK also pushed its 43rd AGM date to September 16, 2026 (from the earlier June 28), with the venue tentatively set at Kurmitola Golf Club subject to BSEC approval.

What to watch next week (June 28 - July 2)

1. Q1 earnings deluge. At least eight companies are scheduled to report Q1 financials between June 28 and July 1. Watch FIRSTFIN, MEGHNALIFE, DELTALIFE, and PLFSL for the financial sector's Q1 pulse.
2. Dividend record dates. PRAGATILIF's record date is July 14; ISLAMIINS's is July 20. Both stocks typically see activity ramp up 2-3 sessions ahead.
3. Insurance index follow-through. With three AAA reaffirmations this week (PIONEERINS, ASIAPACINS, DGIC), watch whether the insurance sector extends its midweek rally.
4. Bond resumption flows. Multiple treasury bonds (TB20Y0632, TB20Y0633, TB20Y0639, TB20Y1231, TB20Y1232, TB20Y1233, TB15Y1228) resumed trading after record dates this week. Watch for residual price discovery.
5. Regulatory angle. The Financial Express report on IPDC suggests BSEC attention on unusual price action, a reminder that small-cap moves can draw scrutiny.

Key takeaways

• DSEX gained 35.99 points (0.64%) to close at 5,652.82, recovering from a two-day distribution phase that saw 598 losers vs 109 gainers across Sunday and Monday.
• BXPHARMA posted a 29% EPS jump in Q3 (Jan-Mar 2026) to Tk 4.98, with NOCFPS nearly doubling to Tk 16.74. The pharma sector's earnings momentum is the cleanest fundamental story of the week.
• Three insurance companies earned AAA reaffirmations with stable outlooks (PIONEERINS, ASIAPACINS, DGIC), plus NCCBANK and DUTCHBANGL, a clean signal of balance sheet quality at the top of the ratings stack.
• PRAGATILIF declared a 25% total dividend (15% cash + 10% stock) for FY2025, citing BMRE and capital needs. Record date is July 14.
• ISLAMIINS declared a 16% cash dividend on FY2025 EPS of Tk 3.04. Q1 EPS also rose 27.5% YoY to Tk 1.02.
• Eight board meetings are scheduled for June 28 - July 1, covering Q1 unaudited financials for FIRSTFIN, MEGHNALIFE, DELTALIFE, PRIMEFIN, PLFSL, and BAYLEASING.
• Insider activity at PRIMEBANK was notable: three directors bought a combined ~3.1 million shares, while one sponsor sold 10.18 million shares, a mixed insider signal worth tracking.