DSE Weekly Roundup: May 3–7, 2026 — Banking Sector Bleeds as Bears Take Over
Sarah Ali
Bears ruled the Dhaka Stock Exchange this week. Only Sunday saw more gainers than losers; the remaining four sessions all closed in the red. Turnover drifted lower each day after Sunday's peak, and banking sector headlines set the tone for a grim week.
Eight banks were hit with BSEC margin restrictions, several posted steep losses, and two declared no dividends at all. On the flip side, insurance companies delivered a string of solid dividend declarations, and credit rating updates showed some bright spots. Here's the full breakdown.
Market Overview
The week started with a brief burst of optimism on Sunday, where 191 stocks gained against 145 losers on turnover of BDT 39,337 Mn. That faded fast. Monday through Thursday, losers consistently outnumbered gainers, and turnover slid to BDT 24,508 Mn on Wednesday before a mild recovery Thursday.
| Date | Gainers | Losers | Unchanged | Volume | Turnover (Mn BDT) |
|---|---|---|---|---|---|
| Sun, May 4 | 191 | 145 | 60 | 292,634,422 | 8,337 |
| Mon, May 5 | 114 | 212 | 70 | 260,458,911 | 8,007 |
| Tue, May 6 | 111 | 209 | 76 | 238,038,315 | 7,352 |
| Wed, May 7 | 135 | 184 | 77 | 245,851,990 | 7,778 |
Thursday's slight improvement in gainers (135 vs 111 the day before) wasn't enough to reverse the overall bearish trend. Total weekly turnover fell short of the prior week, confirming weakening investor appetite.
Earnings Highlights
Winners
- LINDEBD: EPS rose on higher sales and lower operating expenses. NAV per share increased on profit earned during the period.
- JANATAINS: Q1 EPS Tk 0.29 vs Tk 0.26 YoY, a modest improvement. Also declared 10% cash dividend.
- FEDERALINS: Q1 EPS Tk 0.46 vs Tk 0.34 YoY. NAV grew to Tk 13.50 from Tk 13.04. Declared 5% cash dividend.
- RECKITTBEN: Annual EPS Tk 172.93 vs Tk 159.17 YoY. NOCFPS surged to Tk 170.67 from Tk 22.55. A standout performer.
- ASIAPACINS: Annual EPS Tk 2.51 vs Tk 1.89 YoY. NOCFPS up to Tk 3.51 from Tk 2.93. Declared 14% cash dividend.
Laggards
- ABBANK: Consolidated annual EPS of Tk (43.42) vs Tk (21.28) last year. Losses more than doubled. NAV per share turned deeply negative at Tk (36.24). Declared no dividend.
- PREMIERBAN: Consolidated EPS Tk (8.05) vs Tk 1.09 YoY. NAV collapsed to Tk 13.59 from Tk 21.73. No dividend declared.
- IFIC: Consolidated annual EPS Tk (0.63) vs Tk 18.16 NAV. Bank incurred net loss due to deterioration in asset quality. No dividend.
- UNITEDINS: Q1 EPS lower YoY due to higher claim expense and lower investment income.
- EIL: Q1 EPS Tk 0.34 vs Tk 0.29 (revised from an originally reported Tk 1.18 — a filing error the company had to correct). Still, NOCFPS dropped to Tk 0.20 from Tk 0.66.
- GBBPOWER: Q1 EPS Tk 0.02 vs Tk 0.04 YoY. Marginal earnings at best.
- GOLDENSON: Consolidated EPS decreased due to lower turnover. NOCFPS also dropped on reduced cash from customers.
- FUWANGCER: EPS decreased due to lower turnover. NOCFPS fell on rising inventories.
Dividend Declarations
Insurance companies were the bright spot this week, with several declaring solid cash dividends. Banks were the opposite: two declared nothing, and the rest are carrying heavy provisioning baggage.
| Company | Dividend | Type | Record Date | Annual EPS |
|---|---|---|---|---|
| ASIAPACINS | 14% | Cash | 21.05.2026 | Tk 2.51 |
| JANATAINS | 10% | Cash | 22.06.2026 | Tk 1.30 |
| MERCINS | 10% | Cash | 25.05.2026 | Tk 1.65 |
| PRIMEINSUR | 10% | Cash | 21.05.2026 | Tk 1.98 |
| CONTININS | 5% | Cash | 15.06.2026 | Tk 1.50 |
| FEDERALINS | 5% | Cash | — | Tk 1.10 |
| ALARABANK | None | — | 09.06.2026 | Tk 0.74 |
| MERCANBANK | None | — | — | Tk (8.05) |
| EASTERNINS | — | — | — | — |
UCB declared a dividend (details in continuation filing), with consolidated EPS of Tk 0.15 and NAV Tk 25.71. RUPALIBANK received regulatory forbearance from Bangladesh Bank for a BDT 14,014 crore provision shortfall. UTTARABANK confirmed its stock dividend declaration doesn't need additional BSEC approval after inducting a new director.
Credit Rating Updates
| Company | Rating | Outlook | Agency |
|---|---|---|---|
| ROBI | AA+ (Long), ST-1 (Short) | Stable | ECRL |
| PARAMOUNT | AAA (Long), ST-1 (Short) | Stable | ACRSL |
| HEIDELBCEM | AA2 (Entity) | Stable | CRAB |
| SJIBLPBOND | AA- (Long) | Stable | ECRL |
| HAKKANIPUL | BBB1 (Long), ST-4 (Short) | Stable | CRAB |
ROBI maintained its AA+ rating with ECRL, confirming strong creditworthiness in the telecom sector. PARAMOUNT earned a top-tier AAA rating for its claim-paying ability, a clear signal of financial strength for investors.
BSEC Margin Restrictions: Eight Banks Blocked
The biggest regulatory move this week: BSEC prohibited brokers and merchant bankers from providing margin loans to purchase shares of eight banks, effective May 3, under Rule 11(8) of the Bangladesh Securities and Exchange Commission (Margin) Rules, 2025.
The affected banks:
When BSEC blocks margin lending on a stock, it signals that the stock doesn't meet minimum financial health criteria. For investors, this typically means reduced liquidity and downward price pressure. This is one of the largest batches of margin restrictions in recent months, and it tells you all you need to know about the banking sector's health right now.
Want to understand how price limits and circuit breakers work when these stocks move? Read our DSE Circuit Breaker Guide.
Board Meetings Next Week
A wave of Q1 board meetings is scheduled for May 11-14. These will determine Q1 2026 earnings for major banks and insurers, so expect volatility around these dates.
| Company | Date | Time | Agenda |
|---|---|---|---|
| ASIAINS | May 11 | 3:00 PM | Q1 2026 Financials |
| UTTARABANK | May 11 | 3:00 PM | Q1 2026 Financials |
| BANKASIA | May 12 | 3:00 PM | Q1 2026 Financials |
| BRACBANK | May 12 | 3:00 PM | Q1 2026 Financials |
| MERCANBANK | May 12 | 2:30 PM | Q1 2026 Financials |
| NRBCBANK | May 12 | 3:00 PM | Q1 2026 Financials |
| DHAKABANK | May 12 | 3:00 PM | Q1 2026 Financials |
| GREENDELT | May 12 | 2:45 PM | Q1 2026 Financials |
| LHB | May 12 | 4:00 PM | Q1 2026 Financials |
| NATLIFEINS | May 12 | 3:00 PM | Audited FY2025 + Q1 2026 |
| EASTERNINS | May 13 | 3:30 PM | Q1 2026 Financials |
| NCCBANK | May 13 | 2:30 PM | Q1 2026 Financials |
| BGIC | May 13 | 2:30 PM | Q1 2026 Financials |
| PUBALIBANK | May 13 | 5:30 PM | Q1 2026 Financials |
| ALARABANK | May 14 | 2:30 PM | Q1 2026 Financials |
| BDFINANCE | May 14 | 4:00 PM | Q1 2026 Financials |
WALTONHIL also rescheduled its EGM from May 21 to June 3, and CITYBANK is hosting an earnings disclosure event for Q1 2026 with a live webcast.
Regulatory Notices
- Sonali Securities TREC Cancelled: DSE cancelled TREC No. 261 of Sonali Securities Ltd. Claims and complaints must be filed by May 21, 2026.
- Authorized Representative Withdrawals: Three withdrawals this week — Sheltech Brokerage, Oshadhi Securities, and Phoenix Securities.
- BSEC Investor Awareness: Repeated reminders not to act on rumors during trading. Rumor-spreading is legally prohibited.
- Government Securities: Several treasury bond suspensions and resumptions for record dates. TB2Y0526 and TB15Y0526 mature and will be delisted.
What to Watch Next Week
- Banking Q1 Results: Over a dozen banks and NBFCs hold board meetings May 11-14. Given the margin restrictions and provision shortfalls already surfacing, these results could move the market.
- Insurance Q1 Results: ASIAINS, EASTERNINS, BGIC, and NATLIFEINS will report. Insurance looked strong this week with dividend declarations; Q1 numbers will confirm or challenge that narrative.
- Margin-Restricted Banks: Watch for price action on the 8+ banks under BSEC margin restrictions. Reduced buying support could push prices lower.
- WALTONHIL EGM: Rescheduled to June 3. Watch for any updates on corporate actions.
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Key Takeaways
- Bears dominated: Four out of five sessions had more losers than gainers. Turnover dropped from BDT 8,337 Mn on Sunday to BDT 7,352 Mn on Tuesday.
- Banking under pressure: BSEC imposed margin restrictions on 9 banks. ABBANK losses doubled YoY. MERCANBANK and ALARABANK declared no dividends. RUPALIBANK got forbearance for a BDT 14,014 crore provision shortfall.
- Insurance held strong: ASIAPACINS declared 14% cash dividend. JANATAINS, MERCINS, and PRIMEINSUR each declared 10%. FEDERALINS and CONTININS declared 5%.
- Credit ratings mixed: PARAMOUNT earned AAA, ROBI held AA+. HAKKANIPUL got BBB1, the lowest new rating this week.
- Board meeting wave incoming: 16+ companies have Q1 board meetings scheduled May 11-14. Expect heavy volatility around these dates.
- EIL filing error: Originally reported Q1 EPS of Tk 1.18, later corrected to Tk 0.29. Always double-check preliminary filings.
For more DSE insights, read last week's DSE Weekly Roundup: April 27–May 1 and our guide on DSE Record Date vs Ex-Date.