Stocks kept tumbling for three straight weeks amid growing tension over the impacts of coronavirus outbreak across the world.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), plummeted 254 points or 5.81 per cent to settle the week at 4,129.
The core index lost 604 points or 12.76 per cent while DSE market-cap wiped out Tk 379 billion in three consecutive weeks.
DSEX saw 279 points plunged on Monday, the biggest single-day fall since its inception in 2013, just a day after Bangladesh confirmed three cases of COVID-19.
Market analysts said the massive sell-offs witnessed on Monday after the news that the first three cases of coronavirus were confirmed in Bangladesh and looming fears about the spread which will affect the country's overall economy.
The panicked investors have lost confidence in the market based on coronavirus outbreak threatening more disruptions to businesses and the global economy which already affected world stock markets, said a merchant banker.
Stocks all around the world also plummeted after the World Health Organization (WHO) on Wednesday officially declared the outbreak of COVID-19 an epidemic.
According to WHO, more than 4,000 deaths out of 118,000 were reported and the deadly virus has found a foothold on 116 countries across the world.
The new virus continued spreading outside China and could not be controlled that disrupted global supply chain, export and import activities, said an analyst at a leading broker.
China, where the virus outbreak began in late-December last year, is the largest supplier of industrial raw materials for readymade garment and other industrial sectors of Bangladesh.
The coronavirus is affecting almost all the listed companies due to the shortage of raw materials that come from external sources, including China. So, it would impact the earnings of the companies, he said.
Bleak economic outlook, deteriorating asset quality in the financial sector, falling export earnings and the threat of coronavirus has shattered confidence of the investors, commented UCB Capital.
According to International Leasing Securities, fall of large-cap stocks like Square Pharma, Brac Bank, Olympic, Industries, Grameenphone, LafargeHolcim, Renata and Beximco Pharma played a major role behind the index fall.
Two other indices also ended lower. The DS30 index, comprising blue chips, slumped 80.66 points to finish at 1,381 and the DSE Shariah Index lost 58.15 points to close at 957.
The outgoing week saw five trading days as usual. Of them, two sessions closed higher while three sessions saw free-fall.
The weekly total turnover on the DSE stood at Tk 20.88 billion, down from Tk 24.10 billion in the week before.
The daily turnover averaged Tk 4.17 billion, down 13.37 per cent from the previous week's average of Tk 4.82 billion.
The market capitalisation of the DSE also fell sharply by 4.57 per cent to Tk 3,213 billion on Thursday, from Tk 3,367 billion in the previous week.
EBL Securities said the frightened investors lost trust in the market because of the coronavirus outbreak which caused further disruptions for companies and the global economy.
Major sectors suffered losses with engineering booked the highest loss of 9.01 per cent, followed by telecom with 6.19 per cent, banking 5.84 per cent, financial institutions 5.51 per cent, power 5.15 per cent and food 2.89 per cent.
Prices of 91 per cent traded issues fell during the week, as out of 358 issues traded, 326 closed lower and only 25 ended higher while seven issues remained unchanged on the DSE floor.
Square Pharma dominated the week's turnover chart with shares worth Tk 633 million changing hands during the week.
Kohinoor Chemicals was the week's best performer, posting a gain of 22.78 per cent while the Central Pharma was the worst loser, losing 21.56 per cent.
The Chittagong Stock Exchange (CSE) also extended losses with its CSE All Share Price Index - CASPI - slumping by 761 points to settle at 12,643 and the Selective Categories Index - CSCX - losing 462 points to close the week at 7,661.
Here too, the losers beat the gainers as 261 issues closed lower, 26 higher and nine remained unchanged.
The port city's bourse traded 42.33 million shares and mutual fund units worth Tk 1.32 billion in turnover last week.
