DSE turnover declines to Tk 3.5 billion

With absence of any speculative motive ahead in the short horizon and economy still gathering strength, investors Sunday anticipated a down trend and tried to get out of the market. The action made the down beat expectation a self-fulfilling prophecy, as investors’ selling of their holdings, in fear of downtrend itself was contributing to the downtrend. In this recursive scenario, DSEX lost 61.8 points (1.4%) today, while blue chip index DS30 lost 23.8 points (1.4%). Falling turnover imploded to a paltry BDT 3.5 billion. Among the major sectors, Engineering (-2.5%) was the most to lose, while Telecommunication (+0.5%) held ground. Today’s sell off occurred across the cap classes, but intense in smaller ones.