Stocks fell for the third straight weeks, as political strife deepened and investors remained defensive.
Volatility continued throughout the past week while intense selling pressure was seen by the financial stocks.
During the week, the benchmark index DSEX went below the psychological threshold of 4,700-mark, losing 98 points or 2% to settle at 4,665.
The blue-chip index DS30 down 41 points or 2.4% to 1,731. The shariah index DSES declined 18 points or 1.7% to 1,112.
The Chittagong Stock Exchange Selective Categories Index, CSCX, dropped 183 points or 2% to 8,671.
Jittery investors showed reluctance in taking position afresh on stocks, pushing trading activity to decline further. The week’s daily average turnover at the Dhaka Stock Exchange stood at Tk268 crore, sharply down 11% over the previous week.
The poor trading activity was dominated by three sectors—banks, power and engineering –which together made up around 40% of the week’s total turnover ahead of their corporate declarations.
In the past week, only cement sector survived marginally from the selling pressure, which saw fractional rise.
Non-banking financial institutions took the hardest hit falling 3.6%, followed by banks 2.5%, pharmaceuticals and telecommunication 2%, food and allied 1.9% and power 0.3%.
LankaBangla Securities said uncertainty in the political front took a new turn over speculation about the probable arrest of the opposition leader last week which made the investors shaky.
“Good corporate declaration from companies for the last calendar could not bring back confidence among investors in the market.”