April 19, 2024, 1:35 am

Dhaka stocks trend down after two days of gains

  • Update Time : Wednesday, January 24, 2024
  • 56 Time View
Photo: Collected

The Dhaka Stock Exchange’s main index began shedding points amid increasing selling pressure

Desk Report:

After two days of gains prompted by the removal of the floor price restriction, the Dhaka Stock Exchange’s main index began trading on Tuesday with a downward trend.

After two and a half hours of trading, the DSEX dropped 33 points and the price of the majority of shares had fallen.

The DSEX, opening at 6,276 points, quickly lost two points before briefly rising to 6,294 points within the first 10 minutes. However, increasing selling pressure soon led to a decline.

Despite efforts to turn things around with an emphasis on trading in certain shares, the index continued to decline.

According to DSE data, out of the 393 company shares and mutual funds traded until then, 261 saw a decrease in price, 84 experienced a price increase, and 48 remained unchanged.

Despite the index’s decline, trading volume remained robust, with the turnover totaling Tk 7.25 billion.

The recent removal of the floor price in two phases after a year and a half has led to an increase in the volume of shares traded. Investors are closely watching the index’s movement amid heightened trading.

Continuing the previous day’s momentum, the turnover at the DSE surpassed the Tk 10 billion mark on Monday.

While trading closed on a mixed note, more stocks ended the day in the red. Following the removal of the floor price from 23 companies on Monday, only 12 are now subject to the price curb.

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