Dhaka bourse witnessed a steep fall in benchmark index in the week to March 03, extending the losing streak for a third week, as investors opted to stay on the sidelines amid global economic uncertainty caused by Russian invasion of Ukraine.
The total turnover of the week and daily average turnover also declined moderately compared to the previous week, as investors adopted a wait-and-see approach while nervous investors rushed to dump their equities.
Week on week, the benchmark DSEX index plunged 142.92 points or 2.09 per cent to settle at 6696.52 on Thursday.
The Shariah-based DSES index declined 33.73 points or 2.29 per cent to close at 1441.99 while the blue chip DS30 index dropped 52.04 per cent or 2.07 per cent to finish at 2462.94.
According to EBL securities, equity indices of the Dhaka bourse observed a gloomy week as investors adopted a wait-and-see approach and tried to sell off their holdings as they were concerned about geopolitical uncertainty.
Of 386 issues traded in this week, 319 stocks declined, 55 advanced, while 12 others remained unchanged on the premier bourse.
During the week, the DSE posted a total turnover of Tk 37.45 billion which was 6.07 per cent lower from the turnover of the previous week.
The daily average turnover was Tk 7.49 billion, down 24.86 per cent from the daily turnover of the previous week.
Following the price correction, market capitalisation at DSE declined 2.17 per cent and stood at Tk 5.38 trillion on Thursday, the last trading day of the week.
Of the major sectors which saw price correction, the banking sector declined 1.9 per cent, engineering 3.2 per cent, financial institutions 4.5 per cent, general insurance 2.4 per cent, pharmaceuticals & chemicals 1.7 per cent, telecommunications 3.4 per cent, and textile 2.6 per cent.
Investors' participation was concentrated mostly on miscellaneous sector which grabbed 18.9 per cent of the weekly market turnover, followed by textile (13.4 per cent), engineering (9.3 per cent), and banking (8.6 per cent).
Bangladesh Export Import Company topped the scrip-wise weekly turnover chart with a value of Tk 3.77 billion.
Sunlife Insurance Company was the number one gainer with a rise 14.89 per cent to close at Tk 40.90 each.
NCCBL Mutual Fund-1 was the worst loser, shedding 16.85 per cent to end at Tk 7.40 each.
The benchmark index of Chittagong Stock Exchange (CSE) -- CASPI -- also dropped 419.5 points to close at 19572.02 on Thursday.
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