Stocks closed marginally higher Wednesday, with turnover on the premier bourse crossing the Tk 14.0 billion-mark after more than five years as block transaction contributed Tk 8.41 billion in the total turnover.
United Enterprises & Company, one of the corporate sponsors of the Khulna Power Company sold its entire holding of 127,469,456 shares of the company at a price of Tk 65 each in the block market, totaling above Tk 8.28 billion alone.
A block trade is an order or trade submitted for the sale or purchase of a large quantity of securities. A block trade involves a significantly large number of equities or bonds being traded at an arranged price between two parties, sometimes outside of the open markets, to lessen the impact on the security price.
After hitting a year high in the previous day, the market started with a positive trend and upward trend sustained till end of the session apart from some sale pressure in the mid-session, ultimately closed 15 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 15.15 points or 0.32 per cent to finish at 4,765.36 over, which was the highest level of DSEX since October 13 last year, when DSEX was 4,779.66.
However, the two other indices faced some correction. The DS30 comprising blue chips fell 0.13 point to settle at 1,764.06. The DSE Shariah Index (DSES) lost 0.48 point or 0.04 per cent to close at 1,129.19.
The total turnover on the DSE jumped to Tk 14.78 billion after more than five years since July 28, 2011, when turnover was Tk 18.05 billion.
The gainers took a modest lead over the losers as out of 321 issues traded, 161 closed higher, 120 closed lower and 40 remained unchanged on the DSE trading floor.
National Tubes dominated the DSE turnover chart with 1.44 million shares worth Tk 173 million changing hands, followed by AB Bank Tk 176 million, Beximco Tk 160 million, Doreen Power Tk 156 million and Golden Harvest Agro Industries Tk 152 million.