BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks posted a modest gain in the outgoing week with turnover hitting nine years high thanks to huge block transactions of GlaxoSmithKline Bangladesh shares.

Week-on-week, DSEX, the key index of the Dhaka Stock Exchange, went up by 17.45 points or 0.44 per cent to settle the week at 3,986.

The total turnover, a crucial indicator of the market, soared to BDT 33.34 billion on the country’s premier bourse last week due to the acquisition of GSK Bangladesh by Unilever Overseas Holdings BV on the block market.

The daily turnover averaged BDT 8.33 billion, which was 1365 per cent higher than the previous week’s average of BDT 568 million. Block trade contributed 91 per cent to the total weekly turnover.

Stocks like GSK Bangladesh (BDT 24.38 billion), United Power (BDT 4.41 billion), Beacon Pharma (BDT 452 million), Renata (BDT 427 million) and Bank Asia (BDT 138 million) dominated the block trade board. Most of the shares remained stuck at the trading floor.

Of the traded issues, 281 remained unchanged while only 48 issues advanced and 18 declined on the DSE.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 9.18 points to finish at 1,339 and the DSE Shariah Index rose 2.61 points to settle at 922.

The market capitalisation of the DSE went up slightly to BDT 3,117 billion Thursday, from BDT 3,108 billion in the previous week.

On the other hand, the Chittagong Stock Exchange (CSE) also ended marginally higher with its CSE All Share Price Index – CASPI – advancing 59 points to settle at 11,321 and the Selective Categories Index – CSCX rising 36 points to close at 6,854.

Of the issues traded, 40 gained, 18 declined and 167 remained unchanged on the CSE.

The port city bourse traded 39 million shares and mutual fund units with turnover value of BDT 5.58 billion.