The bear-run continued to batter stock markets for the second straight week as even some good earning results failed to bring back the investors mood of buying.
The investors were nervous over the continued heightening political tension.
The prolonged political unrest might wreck havoc on the company’s profitability and economic outlook, leading most investors to stay away from the market, dealers say.
In the past week that ended Thursday, the benchmark index DSEX lost 25 points or 0.6% to settle at 4,763.
The comprising blue chips DS30 index was down over 5 points or 0.4% to 1,772. The DSE Shariah Index shed marginally over 2 points or 0.3% to 1,130.
The Chittagong Stock Exchange Selective Categories Index, CSCX, declined almost 44 points or 0.5% to close the week at 8,854. The investors went for panic-sell-off, es000pecially on the fourth day of the week, anticipating further fall following the news of arrest warrants against BNP Chairperson Khaleda Zia.
A Dhaka court Wednesday issued arrest warrants against BNP chief and two others for skipping court hearing in the Zia Orphanage and Zia Charitable Trust graft cases.
Participation improved slightly due to increased selling pressure. Despite rise in turnover, it still remained sluggish as the daily average turnover at the Dhaka Stock Exchange stood at Tk300 crore, which was 14% higher over the previous week.
The major sectors showed mixed performances in the week. Pharmaceuticals posted heavy gain of more than 3%. Food & allied also registered a decent gain of over 2%. Power, energy and telecommunication went up over 1% each.
IT was the week’s worst sufferer tumbling3 .6%, followed by cement 2.4%, mutual fund 2.3%, bank 2.2% and non-banking financial institutions 1.4%.
LankaBangla Securities said intraweek volatility was high in the past week as investors remained cautious amid political uncertainty.
