Week-on-week, DSEX, the core index of the Dhaka Stock Exchange (DSE), went down by 10.87 points or 0.22 per cent to settle at 4,869. The benchmark index lost more than 73 points in the past three consecutive weeks.
Market analysts said the investors followed cautious approach amid rising trend of Covid-19 infections and possible impact of the second wave of the virus which might have adverse impact on the country's economy.
The week featured five trading sessions as usual. Of them, first two sessions faced correction while last three edged higher.
The first two sessions of the week saw sell-pressure as investors were gearing up for the largest initial public offering of Robi. However, last three sessions eased some sell pressure after ending the Robi's IPO subscription on Monday, market insiders said.
The investors kept their sell-offs on major sectors stocks, particularly on banking, telecom, and engineering sectors to free up funds for the country's largest initial public offering of Robi which down the index, commented International Leasing Securities.
However, the bargain hunters took position on general insurance stocks driven by the positive growth in their latest quarter earnings, said the stockbroker.
The investors also focused on the mutual fund sector riding on the clarification from the securities regulator that the investors can avail the margin loan facility against the listed mutual funds upon the market-spread news of mutual fund units are non-marginable.
The securities regulators' warning of restructuring the boards of the listed companies if the sponsor-directors fail to hold minimum 30 per cent shares jointly by November 30, 2020 also attracted the investors later part of the week.
Turnover dropped significantly as many investors reluctant to make fresh investment in stocks following the media reports that the second wave of coronavirus pandemic starts taking a toll on garment export, said a leading broker.
He noted that the international clothing retailers and brands have placed 30 per cent lower work orders year-on-year for the next four months starting December, he said, quoting media reports.
Two other indices also ended lower. The DSE 30 Index comprising blue chips lost 11.64 points to finish at 1,689 and the DSE Shariah Index (DSES) shed 10.03 points to close at 1,118.
Total turnover, a crucial indicator of the market, stood at Tk 31.48 billion last week which was Tk 39.09 billion in the week before.
The daily turnover averaged Tk 6.29 billion last week, which was 19.45 per cent lower than the previous week's average of Tk 7.81 billion.
Among the major sectors, engineering witnessed the highest correction, losing 4.33 per cent, followed by pharma with 3.66 per cent, financial institutions 3.20 per cent, telecom 2.40 per cent, power 1.54 per cent, food 0.79 per cent and banking 0.76 per cent.
General insurance sectors gained nearly 15 per cent, followed by jute with 6.30 per cent, mutual fund 5.70 per cent and IT sector 2.85 per cent.
Gainers took a modest lead over the losers as out of 361 issues traded, 144 closed higher, 140 lower and 77 remained unchanged on the DSE floor.
The market capitalisation of the DSE also declined 0.70 per cent week-on-week to Tk 3,905 billion on Thursday.
Beximco Pharma continued to dominate the weekly turnover chart with 12.12 million shares worth Tk 1.73 billion changing hands, followed by Nitol Insurance, Beximco, Northern Insurance and ADN Telecom.
The general insurance sector dominated the gainers chart as all the top 10 gainers came from insurance sector.
Prime Insurance was the week's best performer, posting a 36.39 per cent while Summit Alliance Port was the week's worst loser, losing 12.59 per cent.
The Chittagong Stock Exchange (CSE) also edged lower with the CSE All Share Price Index - CASPI -losing 7.0 points to settle at 13,961 and the Selective Categories Index - CSCX falling 4.0 points to close at 8,406.
Of the issues traded, 128 advanced, 107 declined and 72 remained unchanged on the CSE.
The port city's bourse traded 37.91 million shares and mutual fund units with turnover value of Tk 875 million during the week.
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