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DSE turnover jumps to Tk 5.56b riding on block trade

Stocks nudge higher in last session of FY20

Reduced lock-in period for undisclosed money investment in stocks cheer investors

FE REPORT | July 01, 2020 00:00:00

Stocks ended marginally higher on Tuesday, the last session of the fiscal year (FY) 2019-20, as some investors showed their appetite on sector-wise stocks based on the latest quarterly earnings disclosures.

DSEX, the key index of the Dhaka Stock Exchange, went up by 7.45 points or 0.18 per cent to settle at 3,989 during the three-hour trading session.

The core index added 26 points in the past six consecutive sessions despite worsening pandemic situation in the country.

Trading at the bourses will remain closed today (July 1) due to Bank Holiday.

Two other indices also saw marginal gain. The DS30 index, comprising blue chips, advanced 5.47 points to finish at 1,340 and the DSE Shariah Index rose 1.51 points to close at 925.

Turnover, an important indicator of the market, jumped to Tk 5.56 billion on Tuesday with the help of block transaction worth Tk 4.68 billion.

United Power and GlaxoSmithKline had block transactions of Tk 2.20 billion and Tk 1.75 billion respectively.

"As floor price mechanism is not applicable in block transaction, investors looking for exit and investors seeking bargain are engaged in block transactions," commented UCB Capital Management, in its regular market analysis.

EBL Securities said the reduced lock-in period for undisclosed money investment in stocks to one year from proposed three years in the budget also cheered investors.

Market analysts said although the floor price limitation kept the market static, some investors were relatively vibrant on the day due mainly to enjoy the existing tax benefits to reduce their income tax burden for the ending the FY 2019-20.

Most of the shares, however, remained stuck at the trading floor. Of the issues traded, 224 remained unchanged while38 issues advanced and 24 declined on the DSE floor.

A total number of 24,223 trades were executed in the day's trading session with a trading volume of 53.41 million shares and mutual fund units.

The market-cap on the premier bourse rose to Tk 3,119 billion on Tuesday, from Tk 3,116 billion in the previous session.

Beximco Pharma topped the turnover chart with shares worth Tk126 million changing hands, followed by Bangladesh Submarine Cable Company, Central Pharma, Square Pharma and Indo-Bangla Pharma.

Fine Foods was the day's best performer, posting a gain of 6.50 per cent while Keya Cosmetics was the worst loser, losing 6.67 per cent.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)-advancing 23points to close at 11,332 and the Selective Categories Index - CSCX -gaining 15points to finish at 6,862.

Of the issues traded, 25 gained, 16 declined and 94 remained unchanged on the CSE.

The port city bourse traded 8.61 million shares and mutual fund units with turnover value of Tk2.26 billion.


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