Market corrects for second straight session
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), closed at 6760.61 points, with a 0.16% loss over the session
Stocks closed lower for the second consecutive session on Thursday.
Profit booking pushed prices and indices down as shaky investors went for sell-offs to avoid the volatility or downwards momentum of the equity indices.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), closed at 6760.61 points, with a 0.16% loss over the session.
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Market people said the central bank's reported efforts to prevent or curb any speculative channeling of stimulus loans created panic among some investors who felt better to book some profits and that triggered the market correction.
Reservations among investors resulted in a 10% decline in daily turnover at the Dhaka bourse which registered the daily turnover of Tk2,218 crore.
Banking, textile and non-life insurance sectors were the major turnover generators, with 13-15% contributions each.
Most of the sectors except for general insurance, cement, miscellaneous, tannery, textile, travel and leisure faced price correction.
Out of the 376 issues traded, 156 advanced, 191 declined, and 29 remained unchanged at the DSE.
Chittagong Stock Exchange too observed its major indices facing correction.
