Dhaka stocks closed lower for the second consecutive session, with the DSEX index settling 1.13% lower at 6,156 points, the lowest since August 11, 2022. The market witnessed a recovery from January 20’s intraday low of $6,122, reaching $6,300 on January 25th.
However, this rebound was short-lived as investors hesitated amid market volatility fueled by rumors about the withdrawal of floor prices for 12 large-cap stocks, including Grameenphone, Beximco Ltd., and Robi. The market’s cautious sentiment led to a one-and-a-half-year low turnover of Tk871 crore, down 25.8% on January 25th.
Investors opted to safeguard their funds in the face of uncertainty, with the floor price restriction still applicable to the mentioned 12 stocks. The declining number of stocks without bidders over the week indicated a gradual improvement in buyer interest, but overall market stability remained a concern.
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