For the 15th time in its history, the DSE’s daily turnover exceeded Tk2,800cr.
On Tuesday, the DSE’s daily turnover increased by 42.33% (to Tk2,832.30 crore) over the previous session, reaching a one-year high.
Despite the fact that the DSEX gained more than 70 points during the morning session, in the final hour of trading, we witnessed the decline of the prime index as a consequence of sell pressure from institutional investors looking to book profits.
After hitting a 17-week high on Monday as several major and mid-cap stocks gained, DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), leapt to start Tuesday’s trading session.
The index reached 6,776 an hour before the session ended thanks to a growing buying frenzy.
More than 23% of the DSE’s total turnover was earned jointly by Beximco Limited and Orion Pharma, with Beximco Limited taking the top spot.
The DSE’s benchmark index fell 4 points on the day to settle at 6,596. The blue-chip index fell four points to 2,401.
At the intraday market peak, many stocks, particularly those that had just seen a rally, had no buyers.
But afterwards, several significant investors, both institutional and individual, decided to take profits, erasing all intraday gains made in the previous hour.
Finally, the DSEX dropped 4.22 points to conclude at 6,596, a 0.06% down from the previous closing.
Stockbrokers claim that a large number of high-net-worth people invested new funds in shares in order to generate capital gains at a time of turmoil in the core businesses, which contributed to the market’s increase.
Institutional investors increased the selling pressure at Tuesday’s market close by taking gains before the end of their July-September quarter.
There was a noticeable rise in trading activity at the Dhaka Stock Exchange, and the overall turnover increased by 42.3% to Tk2,832 crore, the highest level since September 7 of last year.