DSEX slips from 10-week high to end flat
After hitting a 10-week high at the early trading, DSEX, the major index of the Dhaka Stock Exchange (DSE) ended flat on Wednesday (25 January).
DSEX hit 6,113.95, the highest point since 13 November, but slid due to profit booking pressure and ended the day flat at 6293.39.
The early momentum was a continuation of the two previous consecutive bullish sessions and stockbrokers thanked some corporate disclosures that showed there were some companies, especially from the sectors that are less hit in inflation, to defy the macroeconomic challenges in the October-December quarter.
It helped strengthen investors' confidence in making fair bets, especially when the market was recovering from the recent lows.
However, investors' anticipation for a majority firms' earnings deterioration have been still there and in less than two hours of the Wednesday session there came a selling pressure from the investors who preferred booking the recent quick gains.
Turnover in the premier bourse increased to Tk735 crore on Wednesday from Tk607 crore in the previous session.
Of the issues traded at the DSE, 38 scrips advanced ultimately, while 129 declined.