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DSE witnessed a huge surge in trading

Industry: Financial, Stock Brokerage
Company: Dhaka Stock Exchange (DSE)
Company Intelligence Tag: Business Insights

In the maiden post-budget session, the Dhaka Stock Exchange (DSE) witnessed a significant surge in turnover, exceeding Tk 12 billion for the first time in seven months. The market’s positive performance can be attributed to the absence of any new tax provisions or cuts to existing tax facilities in the proposed budget for FY24. Investors reacted favorably to the budget, leading to increased market participation and bolstered investor confidence. Block transactions played a crucial role, accounting for 16% of the day’s turnover. Notably, Islami Bank Bangladesh saw substantial block trading, with shares worth Tk 1.12 billion being sold. The recent increase in block trading activity is attributed to the ease in buying and selling shares below the floor price, implemented by the Bangladesh Securities and Exchange Commission.

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