Stocks extended the losing streak for the second day in a row on Sunday as risk-averse investors continued their selling binge on large-cap sectors.
Market operators said the news of major scams in banks, rising non-performing loans coupled with falling foreign portfolio investment prompted investors to sell-off.
According to a report of the Centre for Policy Dialogue, scams in 14 banks cost Tk 225 billion in the past decade, which is about four-fifth the project cost for Padma bridge.
Many investors also followed cautious stance as the national elections nears, said a leading broker.
The market opened on negative note and the downward trend continued till end of the session with no sign of reversal.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,306, losing 26.57 points or 0.49 per cent over the previous day.
"Fall across the banking, textile and financial institutions issues triggered the market decline," commented IDLC Securities.
Two other indices-the DS30 index and the DSE Shariah Index (DSES)-also ended lower.
The DS30 index, comprising blue chips, fell 6.80 points to finish at 1,855 and the DSE Shariah Index shed 2.14 points to close at 1,222.
The market closed in the red zone ahead of uncertainty looming around the national elections.
Turnover, another important indicator of the market, remained almost same as total turnover amounted to Tk 5.16 billion, which was Tk 5.14 billion in the previous session.
The port city bourse CSE ended lower with its CSE All Share Price Index - CASPI -losing 68 points to settle at 16,257 and the Selective Categories Index - CSCX -shedding 42 points to finish at 9,836.
The losers beat gainers as 165 issues closed lower, 68 ended higher and 16 remained unchanged on the CSE.
The port city bourse traded 7.87 million shares and mutual fund units worth more than Tk 202 million in turnover.
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