DSE turnover dips below Tk 4.0b-mark

Turnover on Dhaka Stock Exchange (DSE) came down to Tk 3.38 billion Sunday, hitting nearly seven months low, as investors were reluctant to take fresh exposure in the market ahead of year-closing.

Turnover, the crucial indicator of the market, fell 16 per cent to Tk 3.38 billion, compared to the previous session's Tk 4.02 billion.

It was the lowest single-day transaction in the seven months since May 30, this year when turnover was recorded at Tk 3.18 billion.

Market operators said the ongoing pessimism coupled with ahead of year-closing kept investors mostly inactive, bringing the turnover to below Tk 4.0 billion-mark once again.

"The investors were not confident enough to take fresh position in the stocks in this prevailing bearish trend," said an analyst at a leading brokerage firm.

He noted that ongoing pessimism and persistent volatility, prompted the many investors to liquidate their holdings while institutional investors mostly followed 'wait-and-see' strategy ahead of year-ending, taking the market turnover seven months low.

Along with low turnover, DSEX, the key index of the Dhaka bourse, went down by 16.92 points or 0.27 per cent to close at 6,213.

According to EBL Securities, the morning buoyancy did not sustain as several investors opted for profit booking from their portfolio.

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