After the removal of the floor price, 189 stocks, out of 357 listed companies, have traded below the floor price level, as investors' optimism has been gradually fading away.
Among the stocks, IPD Finance lost 41 per cent, closely followed by GSP Finance, Bay Leasing, Ring Shine Textile, and Malek Spinning Mills, according to Royal Capital.
As most stocks were set free on January 21, the market index rose to peak at 6,447 on February 11, hitting 16-month high with turnover surpassing Tk 18 billion with support of institutional investors.
The market index added 368 points in 10 consecutive days until February 11, with turnover staying above Tk 15 billion amid increased participation of investors.
However, the market failed to sustain the positive momentum and the key index suffered erosion of more than 191 points in the past seven trading days to Tuesday. Turnover also fell below Tk 8 billion after three weeks.
Analysts said most of the investors preferred to take a 'wait-and-see' approach due to the prevailing volatility in the market while some looked for lucrative investment opportunities.
Turnover, the crucial indicator of the market, dropped to Tk 7.65 billion on Tuesday, 6.5 per cent lower than the previous day.
Although the market opened higher and the key index soared 35 points within the first hour of trading, the rest of the session wiped out all of the initial gains amid a selling pressure on selective large-cap stocks.
Top index draggers were Renata, Beacon Pharma, Aftab Automobiles, and Khan Brothers PP Woven Bag Industries. They jointly accounted for 9 points fall of the DSEX.
The DSEX, the prime index of the DSE, finally settled at 6256, losing almost 3 points from the day before.
The market stayed bearish as risk-averse investors maintained their sell dominance to protect their investment, said EBL Securities.
The DSES index, which represents Shariah-based companies, dropped 1.55 points to 1,359. However, the DS30 Index, which consists of blue-chip companies, saw a fractional gain of 0.84 point to 2,132.
The pharmaceutical sector kept its dominance on the turnover chart, capturing 22 per cent of the day's total turnover, followed by textile (11 per cent) and engineering (10 per cent).
A majority of the traded stocks saw price appreciation, as out of 392 issues traded, 184 closed higher, 166 ended lower and 42 remained unchanged on the DSE trading floor.
Orion Infusion became the most traded stocks, with shares worth Tk 599 million changing hands, followed by newly listed Best Holdings (Tk 312 million), Aftab Automobiles (Tk 226 million), Bangladesh Shipping Corporation (Tk 221 million) and Fu-Wang Ceramics (Tk 208 million).
Bangladesh Monospool Paper Manufacturing Company was the top gainer, soaring 9.96 per cent, while Aftab Automobiles was the worst loser, shedding 8.34 per cent.
The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)-losing 40 points to 17,950 and the Selective Categories Index (CSCX) shedding 22 points to 10,751.
Of the issues traded, 129 declined, 102 advanced, and 32 issues remained unchanged on the CSE.
The port city bourse traded 4.39 million shares and mutual fund units with a turnover of Tk 135 million.
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