Major indices at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) fell for the fourth consecutive weeks that ended on Thursday as the dominant small investors continued to offload shares as there was no solution to the ongoing political stalemate was in sight, dealers said.
Of the five usual sessions, three witnessed sharp plunges while the rest two ended almost unchanged with upward trend, amid an ongoing transport blockade and frequent hartal.
DSEX, the prime index DSE ended at 4,556.94 points at the cloae of the week, shedding 107.97 points or 2.31 per cent, against the previous week.
The two other indices of DSE also declined when the DS30 index, comprising blue chips plunged 16.53 points or 0.95 per cent to close at 1,714.41 and the Shariah Index DSES lost 7.73 points or 0.69 per cent to close at 1,104.79 points, compared to the previous week.
At CSE the Selective Categories Index CSCX dipped 231.19 points or 2.66 per cent to close the week at 8,435.69 points.
However the total turnover amounted to Tk 14.22 billion against Tk 13.43 billion in the previous week as the transactions were higher in the week than the previous week. The daily turnover for the week averaged Tk 2.84 billion, up by 5.84 per cent over the previous week's average of Tk 2.68 billion.
Engineering and power led the transaction drawing 16.1 and 14.1 per cent respectively of the week's total turnover.
"The main bourse of the country, DSE, experienced panic-sell last week as prolonged turmoil in political front made the investors hopeless about any near term stability in the country," said LankaBangla Securities, in its weekly stock market analysis.
Banking sector took the most hit, losing 7.6 per cent market-cap as some of the banks resumed trade after record date escalating the fall, said the stock broker.
IDLC Investments said: "Investors witnessed one of the worst weeks of the year. DSEX lost 108 points over the week, hitting six and half months low of 4,556.94".
"The stock market ended in the negative tune in another week amidst shaky confidence from the investors," said International Leasing Securities.
The broad based index of the premier bourse hit more than 6-month low while turnover improved slightly amid short-term profit booking slae from the investors, said the International Leasing.
"Market continued its bearish trend for the fourth consecutive week due to prolonged political turmoil," said BRAC EPL, a leading stock broker.
Among the large-cap sectors, cement posted the highest gain of 4.42 per cent during the week. Food and allied and pharmaceuticals moved up by 2.84 per cent and 1.18 per cent respectively.
All the other major sectors closed lower. Banks witnessed the highest loss of 7.6 per cent - due cash dividend adjustment of five constituents of the sector. NBFIs, telecommunication and power closed lower by 3.13 per cent, 1.15 per cent and 3.27 per cent respectively.
The losers took a strong lead over the gainers as out of 318 issues traded, 223 declined, 70 advanced and 25 remained unchanged on the DSE trading floor.
Four listed firms - Lafarge Surma Cement, United Finance, Reliance Insurance and First Security Islami Bank declared dividend last week.
The market capitalisation of the DSE went down by 1.11 per cent as it was Tk 3,173.52 billion on the opening day of the week and it stood at Tk 3,138.15 billion on closing day of the week.
Newly listed Shasha Denims dominated the week's top turnover chart with shares worth Tk 776.54 million changing hands followed by Shahjibazar Power, IFAD Autos, Lafarge Surma Cement and GP.
Anwar Galvanizing was the week's top gainer, posting a rise of 23.60 per cent following the news of its planned to set up subsidiary while IDLC Finance was the week's worst loser, plunging by 28.21 per cent following its price adjustment after record date last week.