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

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