Bourses witnessed sharp correction on Monday as investors moved to the side-line amid low turnover in the market.
Turnover at the Dhaka Stock Exchange declined below Tk500 crore-mark for the first time in the previous three months.
Low market turnover pushed down the benchmark index, DSEX by 90.8 points or 1.66 per cent during the session yesterday.
Initial public offerings (IPOs) have kept the market in a tight spot, said a couple of stock brokers to the Dhaka Tribune.
Currently the bidding of Baraka Patenga Power is going on through book-building method to raise Tk112.5 crore from eligible investors.
Additionally, IPO subscription of Index Agro Industries from the general investors is also ongoing.
Investors opted to liquidate their portfolios and decided to sit on cash in absence of any major trigger in the market, said the daily market review of EBL Securities/
Upcoming dividend declarations by December-end companies kept some investors on the side-line to observe the market movement ahead, the report added.
