Stocks correct after 8-day bull run
DSEX, the broad index of the Dhaka Stock Exchange (DSE), shot up to 7,336 points against its previous and closed at 7,258
Stocks at the bourses of Dhaka and Chattogram closed in red on Sunday after eight consecutive gaining sessions.
Following the recent trend, the market opened higher today and reached its decade-high in an hour.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), shot up to 7,336 points against its previous and closed at 7,258.
Keep updated, follow The Business Standard's Google news channel
However, the investors' move to book quick profits from the stocks that gained over the recent weeks pushed the most tracked index (DSEX) down by 0.78% to 7,202.
Analysts observed a sentiment shift towards fundamentally sound stocks following the regulator's move to look into the recent price hike of poorly earning low-cap scrips.
Meanwhile, the blue-chip stocks, mainly some multinationals, which had been slightly lagging behind the mid and low-cap stocks over the recent weeks came up to save the day.
During the session today, the blue-chip index DS30 was corrected by 0.34% to close at 2,638 points.
On the other hand, the Shariah-based DSES index fell by 1.02% and closed at 1,575 points.
Participation of the market investors increased the DSE turnover to Tk2,700 crore as sellers seemed to be more desperate in majority stocks.
At the time, only 83 companies' share prices advanced, while 261 declined and 32 remained unchanged at the DSE.
