Block trades help treble DSE turnover - Share market analysis of dhaka stock exchange, Bangladesh

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
24 November, 2016 09:53 AM Source: Dhaka Tribune
Dhaka Stock Exchange.jpg

‘This is the biggest market turnover value recorded in the last five years’

Block trades of KPCL by local investors helped almost treble the turnover at the Dhaka Stock Exchange to nearly Tk1,500 crore compared to the recent turnover.
The rental power company KPCL accounted for around 80% or over Tk828 crore of the day’s turnover at DSE.
The market experienced a massive block trade in KPCL as the United Enterprises & Co. Ltd, one of the corporate sponsors of KPCL, sold its entire holding of 12.75 crore shares, assisting a total trade value to Tk1,478 crore.
The figure is 125.3% higher compared to the previous session and the highest since July 2011. However, excluding the unusual block trade of KPCL, the turnover stood at Tk650 crore on the DSE.
“The KPCL trades were block cross-trades among local institutional investors. This is why there was a little price change even after the record trades went through,” said a broker.
Apart from KPCL trades, the rest of the market remained fairly subdued with the benchmark index DSEX added over 15 points or 0.4% to 4,765, which is 13-month high.
However, the DS30 index, comprising blue chips, and the DSE Shariah Index, DSES, witnessed a fractional fall. Of the total 321 traded scrips, 161 advanced, 120 declined and 40 remained unchanged.
Among the major sectors, bank, food & allied and non-banking financial institutions increased by 0.78%, 0.02% and 0.13% respectively, while engineering and pharmaceuticals sectors decreased by 0.21% and 0.20% respectively.
Lanka Bangla Securities said the market recorded spectacular turnover value as soon as it broke the 4,720 resistance level in DSEX.
“This is the biggest market turnover value recorded in the last five years. DSEX continued to see strong buying interest as promising market fundamentals and cues of institutional buying promoted investors to hold on buying spree.” 

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login
Advanced Charts
Market Map
Real-Time Market Watch
Order Book Data
Stock Screener
LankaBangla Client Login
CSE iTrading
Trading Game
DSE iTrading

Stocks in Focus

Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2013


Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?