The prime index of the Dhaka Stock Exchange (DSE) plummeted to a fresh two-and-a-half-months low Monday as risk-averse investors sold major sector stocks, fearing further fall.
DSEX, the core index of the prime bourse, went down by 50.91 points or 0.90 per cent to finish at 5,604. It was the lowest level of DSEX since January 03, 2019.
Market analysts said small investors were not confident enough to inject fresh fund in stocks while institutional investors mostly followed 'wait-and-see' strategy amid ongoing corporate declarations of financial sector and liquidity crisis in the banking sector.
"The ongoing pessimism coupled with lack of market triggers kept investors mostly inactive, taking the market turnover below Tk 5.0 billion after four days," said an analyst at a leading brokerage firm.
He noted that some of the panicked investors also disposed of shares, fearing further fall of stock prices.
The market opened on negative note and the downward trend continued until end of the session with no sign of reversal.
International Leasing Securities said engineering, insurance, textile, power, financial institutions and banking sectors stocks witnessed selling pressure which led the index to close lower.
Two other indices also finished lower. The DS30 index, comprising blue chips, fell 5.76 points to finish at 2017 and the DSES (Shariah) index lost 9.81 points to settle at 1,283.
According to IDLC Securities, top three negative index contributors were Berger Paints, Bangladesh Submarine Cable Company and United Power.
The top three positive index contributors were BATBC, Marico and Grameenphonme, said the stockbroker.
Turnover, another important indicator of the market, fell below Tk 5.0 billion-mark after four-session and amounted to Tk 4.76 billion, which was 18.6 per cent lower than the previous day's turnover of Tk 5.85 billion.
The banking sector kept its dominance in turnover chart, grabbing 23 per cent of the day's total turnover where Brac Bank topped the turnover list with 8.0 per cent of total turnover.
A total number of 113,370 trades were executed in the day's trading session with trading volume of 88.22 million shares and mutual fund units.
The market-cap of the DSE also declined to Tk 4,179 billion, from Tk 4,196 billion in the previous day.
Among the major sectors, engineering posted the highest loss of 1.90 per cent, followed by power with 1.05 per cent, financial institutions 0.70 per cent and banking 0.63 per cent.
On the other hand, food, pharmaceuticals and telecommunication witnessed 1.81 per cent, 0.53 per cent and 0.12 per cent gain.
The losers took a strong lead over the gainers as out of 345 issues traded, 279 closed lower, 42 ended higher and 24 issues remained unchanged on the DSE trading floor.
Brac Bank topped the turnover list with shares worth Tk 382 million changing hands, closely followed by BATBC, United Power, Square Pharmaceuticals and Dutch-Bangla Bank.
The port city bourse, Chittagong Stock Exchange ended lower with the CSE All Share Price Index - CASPI - shedding 206 points to settle at 17,145 while the Selective Categories Index - CSCX -losing 123 points to finish at 10,391.
Here too, the losers beat the gainers as 191 issues closed lower, 26 ended higher and 14 remained unchanged.
The port city bourse traded 4.31 million shares and mutual fund units worth Tk 175 million in turnover.
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