Stocks extended the losing streak for the sixth straight week as the ongoing bearish trend made investors worry amid lack of positive triggers.
The week featured four trading days as the market remained closed Sunday due to International Mother Language Day. Of them first two sessions ended lower while last two edged higher.
Week-on-week, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 59.60 points or 1.09 per cent to settle at 5,416.
DSEX shed more than 493 points in the past six consecutive weeks.
Market analysts said the shaky investors continued their sell-offs in major sector stocks amid lack of positive triggers while many investors stayed cautious ahead of dividend declaration by December-end companies.
Lack of institutional investors' participation and unsatisfactory dividend declarations by certain companies also contributed to the current gloomy market situation, they said.
The pressure on margin loans adjustment to regulatory allowable limit, Bangladesh Bank's circular regarding dividend limit of banks and non-bank financial institutions continued to put a negative impact on the market, said a merchant banker.
The non-bank financial institutions sector lost more than 4.0 per cent after the central bank banned them from providing dividends of more than 15 per cent for their future betterment.
Prices of 17 non-bank financial institution stocks, out of 23, saw price fall last week, as investors realised that they would not get good dividends this year, said a top broker.
The NBFI sector took a heavy beating as the central bank fixed a set of criteria for declaring dividends to barred weak companies in dividend disbursement aiming to strengthen the capital base of them, commented EBL Securities.
According to International Leasing Securities, the investors opted for sell-offs in the major sectors as the market had been falling for more than a month without any sign of reversal.
The stockbroker noted that the recent volatile market sent the share prices of around 100 companies to their floor price level which tempted the bargain hunters to take positions on lucrative stocks later part of the week.
Two other indices also suffered losses with the DS30 index, comprising blue chips, plunged 39.78 points to finish at 2,065 and the DSE Shariah Index fell 16.61 points to close at Tk 1,225.
The weekly total turnover on the prime bourse plunged to Tk 23.35 billion, slumping by 47 per cent, from 40.37 billion in the week before, as last week saw four sessions.
The daily turnover averaged out at Tk 5.83 billion, which was 34 per cent lower from the previous week's average of Tk 8.87 billion as last week saw four trading sessions instead of regular five.
Among the major sectors - miscellaneous saw the highest correction of 4.9 per cent, followed by financial institution with 4.2 per cent, food 3.0 per cent, pharma 1.10 per cent and banking 0.6 per cent.
On the other hand, engineering, cement, power and telecom sectors gained 6.0 per cent, 2.9 per cent, 1.7 per cent and 0.2 per cent respectively.
Losers took a modest lead over the gainers as out of 365 issues traded, 126 declined, 121 advanced and 118 remained unchanged on the DSE trading floor.
The market capitalisation of the DSE advanced 0.28 per cent to Tk 4,669 billion on Thursday, from Tk 4,656 billion in the week before.
Beximco - the flagship company of Beximco Group - continued to dominate the weekly turnover chart with 62.67 million shares worth over Tk 5.39 billion changing hands.
Robi Axiata was the second highest turnover leader with shares worth Tk 1.69 billion changing hands, followed by BATBC, LankaBangla Finance and Beximco Pharmaceuticals.
Robi was the week's best performer, posting a rise of 11.20 per cent after losing 12.28 per cent in the previous week following its no dividend declaration.
NCC Bank Mutual Fund-1 was the week's worst loser, losing 14.44 per cent following its price adjustment after record date during the week.
The port city's bourse, Chittagong Stock Exchange (CSE), also extended losing streak with its CSE All Share Price Index - CASPI - losing 171 points to settle at 15,650 and the Selective Categories Index - CSCX - shedding 103 points to finish the week at 9,441.
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