Stocks ended lower last week, extending its fall for the eighth straight week as worried investors kept selling mostly financial shares.
Market analysts said investor sentiment remained wary amid liquidity shortage coupled with lack of market triggers.
The institutional investors also remained cautious while individual investors went on the sidelines, causing the prime index to go below 5,600-mark on Thursday, the last trading session of the last week, they said.
The investors mostly went on a selling spree, dumping share of the banking and financial institution sectors amid ongoing corporate declarations.
The week saw four trading sessions instead of regular five, as the market was closed on Sunday on the occasion of the birthday of Father of the Nation Sheikh Mujibur Rahman. The market suffered losses in three sessions while one session saw marginal gain.
Week on week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled 86 points or 1.50 per cent lower at 5,570.
The DSEX eroded more than 380 points or 6.40 per cent in the past eight consecutive weeks.
According to EBL Securities, instability in the banking sector, rising non-performing loans and liquidity shortage coupled with soaring interest rates are weighing on investors' mood.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 31 points to finish at 1993 and the DSE Shariah Index lost 8.0 points to close at 1,284.
The International Leasing Securities said the investors continued their selling spree to avoid further losses in the current gloomy market.
The persistent selling binge of the risk-averse investors has pushed the DSEX close to its three-month low, the stockbroker noted.
The total turnover stood at Tk 17.20 billion last week against Tk 28.84 billion in the previous week.
The daily turnover averaged out at Tk 4.30 billion, registering a decline of 25.45 per cent over the previous week's average of Tk 5.76 billion.
Block trade contributed 3.10 per cent to the week's total turnover, with stocks like Shajalal Islami Bank, Summit Power, Grameenphone, and BATBC dominating the block trade board.
The market capitalisation of the DSE also fell 1.10 per cent to Tk 4,149 billion on Thursday from Tk 4,197 billion in the week before.
Among the major sectors, banking sector suffered most, losing 3.11 per cent, followed by financial institutions (2.43 per cent), food (2.12 per cent), power (1.92 per cent) and engineering (1.03 per cent).
Only telecommunications and pharmaceuticals sectors ended higher, gaining 2.26 per cent and 0.35 per cent respectively.
Losers outnumbered the gainers, as out of 350 issues traded, 223 closed lower, 105 ended higher and 22 issues remained unchanged on the DSE floor.
BATBC dominated the turnover chart, with shares worth Tk 984 million changing hands. The company accounted for 5.72 per cent of the week's total turnover.
The other turnover leaders were Brac Bank, United Power, Dutch-Bangla Bank and Square Pharmaceuticals.
Eastern Lubricants was the week's best performer, posting a gain of 11.28 per cent, United Insurance Company was the worst loser, shedding 28.08 per cent.
Three listed companies -- United Insurance, National Housing Finance & Investment and Islamic Finance & Investment -- recommended dividend last week for the year ended on December 31, 2108.
United Insurance has recommended 7.05 per cent cash and 5.95 per cent stock dividend, National Housing Finance has recommended 10 per cent cash and 10 per cent stock and Islamic Finance 10 per cent cash and 4.50 per cent stock dividend.
The port city bourse, Chittagong Stock Exchange (CSE), also ended lower, with its CSE All Share Price Index -- CASPI -- losing 184 points or 1.10 per cent to settle at 17,167 and the Selective Categories Index -- CSCX -- shedding 108 points or 1.0 per cent to finish at 10,407.
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