The country’s stocks have witnessed a losing streak in the last week following coronavirus scare, experts said.
Worried investors, as a result, continued their selling spree on sector-wise securities apprehending further dip in the market as investors lose their confidence in the threat of coronavirus outbreak.
Market analysts said the share markets continued downward trend as investors were reluctant to inject fresh funds into stocks.
“Besides, poor macroeconomic indicators, dearth of quality stocks, possible impact of the single-digit interest rate on the banking business and liquidity crunch also contributed to the ongoing confidence crisis among investors,” they added.
They informed the new virus continued spreading globally, which disrupted global supply chain, export and import activities.
However, the prime index of the Dhaka Stock Exchange (DSEX) lost by 95.75 points or 2.14 percent to close at 4,384 last week.
The DSEX has decreased a total of 349 points in the past two straight weeks.
On the other hand, the DS30 index, comprising blue chips, declined by 30.13 points to settle at 1,462 and the DSE Shariah Index decreased by 28.97 points to finish at 1,015 during the last week.
The total turnover on the DSE went down to Tk 24.10 billion during the last week against Tk 30.87 billion in the week before.
The daily average turnover declined by 22 percent to Tk 4.82 billion from Tk 6.17 billion in the previous week.
The market capitalisation of the DSE also dent down by 1.82 percent to Tk 3,367 billion on Thursday from Tk 3,429 billion in the previous week.
The losers beat the gainers as out of 358 issues traded, 237 ended lower, 97 closed higher and 24 remained unchanged on the DSE floor.
Monno Ceramic dominated and became the top on weekly turnover chart with 6.42 million shares worth Tk 1,211.57 million changing hands.
It was followed by VFS Thread Dyeing (Tk 613 million), GBB Power (Tk 572 million), Far Chemical Industries (Tk 512 million) and Square Pharmaceuticals (Tk 507 million).
Central Pharma was the best performer, posting a gain of 21 percent while the International Leasing and Financial Services was the worst loser, losing 12.82 percent during the week.
Meanwhile, the Chattogram Stock Exchange (CSE) also saw negative trend during the last week with its selective category index (CSCX) losing nearly 209 points to close at 8,123 points.
On the other hand, all Share Price Index of the CSE was higher by almost 338 points to 13,444 points on Thursday.
At the CSE, total 301 issues were traded. Among them, 202 closed higher, 76 ended lower and 23 remained unchanged during the week.
However, the number of shares transacted on the floor of the CSE was almost 51.6 million and the total turnover in value was almost Tk 922 million last week.