Stocks down a day after highest turnover recorded in 12 months
Stocks closed lower on Wednesday following the highest Tk2,832.30 crore turnover - in the last 12 months - during the previous session on Tuesday (20 September).
Earlier, on 7 September 2021, the daily turnover of the DSE had reached Tk2,866 crore. The DSE said in a press letter that the daily turnover has crossed over Tk2,800 crore 15 times in its history.
Unlike Tuesday's first hour jump and massive selloff at the end, the market opened with moderate strength and tried to consolidate till the middle of the session today.
Keep updated, follow The Business Standard's Google news channel
Sellers', however, pushed most of the scrips and the indices further down in the second half of the trading session.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), closed 0.69% lower at 6,551 points.
According to stockbrokers, serious investors are analyzing the upcoming corporate earnings after the recent rally so that they do not end up buying and holding overpriced stocks and the caution is making them book some profits, switching to undervalued stocks from overbought ones.
Turnover in the premier bourse came down to its recent daily average level below Tk2,000 crore.
Some 58 scrips advanced in the DSE against a decline of 159 scrips; mostly because of the price floor. Meanwhile, the price of 154 remained unchanged.
Blue chip index DS30 fell by 1.12% to 2,374 points on Wednesday.
