DSE registers Tk 1.2 b in block trade last week

FE Report

Dhaka Stock Exchange (DSE) witnessed about Tk 1.20 billion in block trade, accounting for 13 per cent of total transaction last week that ended on Thursday.

Turnover, the crucial indicator of the market, stood at Tk 12.84 billion during the week, more than 27 per cent down from previous week's turnover of Tk 17.69 billion.

A total of 26 companies executed block trade during the week when stocks like Delta Life Insurance Company, Renata, Square Pharmaceuticals, Shahjalal Islami Bank, ACI, Singer Bangladesh and City Bank dominated the block trade board, according to City Bank Capital Resources, a merchant bank, in its weekly analysis.

The block market is a platform of a stock exchange where a large number of stocks are traded in a single transaction at a negotiated price. The transaction price may not match the traded price on a public market.

Delta Life Insurance topped the block trade board in terms of value with 5.43 million shares worth Tk 600 million traded in the market.

The insurer's share price closed at Tk 107.50 on Thursday, the last session of the week, soaring 9.36 per cent over the week before.

Renata, a pharmaceuticals company, was the second highest turnover in the block market with 380,550 shares worth Tk 470 million traded during the week.

The pharmaceuticals company's share prices fell 0.65 per cent over the previous week to close at Tk 1,233.90 each on Thursday.

Square Pharmaceuticals followed next with 550,000 shares worth Tk 169 million changing hands in the DSE block market. The second largest market-cap company's share closed at Tk 310 each, losing 0.64 per cent over the week before.

Shahjalal Islami Bank clinched the fourth spot, with 3.50 million shares worth Tk 88.20 million traded in the block market. The share price of the bank fell 0.73 per cent to close the week at Tk 27.20 each.

ACI Limited emerged fifth in terms of value on the DSE block trade board with 197,600 shares worth Tk 80.62 million changing hands. The company's share price closed at Tk 399.10 each on Thursday, losing 1.58 per cent over the previous week.

Among others, the City Bank witnessed a turnover of Tk 38 million in block market, followed by Acme Laboratories with Tk 23 million, Grameenphone nearly Tk 20 million, DBH First Mutual Fund Tk 13 million, MBL First Mutual Fund Tk 9.0 million, Eastern Bank Tk 8.39 million and BATBC Tk 7.20 million.

[email protected]