The prime index of the major bourse fell to 17 months low on Sunday as stocks continued their losing streak for fifth straight sessions.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by nearly 27 points or 0.50 per cent to 5,316 points, finishing the day at 17-month low.
The market started on a positive note and the core index gained nearly 20 points within first half of the session, but rest of the session went down steadily.
Market insiders said the prime index shed more than 140 points in last five straight sessions, leading the benchmark index to close at its lowest after January 10, 2017.
DSEX was 5,277 points on January 10, 2017.
"Ongoing pessimism coupled with upcoming national budget kept investors mostly inactive, taking the market in the red zone further," said an analyst.
Two other indices also finished lower. The DS30 index, comprising blue chips, fell 9.54 points to settle at 1,965 and the DSE Shariah Index lost 10.13 points to close at 1,228.
According to EBL Securities, the ongoing bearish trend continued to prompt investors to sell their holdings, fearing further fall of stock prices.
"Selling of shares, especially from telecom sector's stock was the reason for plunging the indices," commented International Leasing Securities, in its regular market analysis.
The stockbroker noted that pharmaceutical and engineering issues also contributed to the fall.
Telecommunication sector witnessed the highest loss of 2.92 per cent, followed by pharmaceuticals with 1.02 per cent, engineering 0.61 per cent, financial institutions 0.33 per cent and food & allied 0.28 per cent.
Sheltech Brokerage said the market correction continued led by Grameenphone and Square Pharmaceuticals.
The share price of GP, the largest market cap company, fell 2.98 per cent or Tk 12.40 each to close at Tk 402.40.
The second largest market cap company Square Pharma's share price also lost 2.95 per cent to close at Tk 276.70 each on Sunday.
Turnover, another important indicator of the market, rose to Tk 4.25 billion, which was 18 per cent higher than the previous session's Tk 3.61 billion.
Of the traded issues, 182 declined, 115 advanced and 40 issues remained unchanged on the DSE trading floor.
Alif Industries topped the DSE turnover chart with shares worth Tk 234 million changing hands, closely followed by Monno Ceramic Industries, Intraco Refueling Station, Beximco and Khulna Power Company.
Ambee Pharma was the day's highest gainer, posting a gain of 8.75 per cent, while Shahjalal Islami Bank was the day's worst loser, losing 9.92 per cent, following its price adjustment after record date.
The port city's bourse Chittagong Stock Exchange also ended lower with its CSE All Share Price Index - CASPI - losing 69 points to settle at 16,422 and the Selective Categories Index - CSCX - shedding 44 points to finish at 9,932 points.
The losers beat gainers as 105 issues closed lower while 68 ended higher, with 34 issues remaining unchanged on the CSE trading floor.
The port city bourse traded 5.01 million shares and mutual fund units worth more than Tk 199 million in turnover.
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