Stocks extended the losing streak for a third consecutive week as investors were busy selling their holdings amid global panic.
Market analysts said the ongoing global economic crisis has created panic among investors, which was reflected in the stock market. Several investors were trying to exit the market by selling their shares to avoid further losses, they mentioned.
The investors are in a very tough situation as they are witnessing continuous erosion of their money while some are stuck with heavy losses and cannot get out of it, they said.
Remittance and export earnings dropped in September while inflation is soaring fast, which turned the investors cautious, they mentioned.
The ongoing dollar crisis and electricity shortage also created a negative sentiment among the investors, they said.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 14.30 points or 0.22 percent to finish the week at 6,378. The index decreased by 116 points in the previous three consecutive weeks. The DS30 Index, comprising blue-chip companies, dropped by 11.84 points to settle at 2,266 and the DSES Index fell by 4.54 points to close at 1,402.
The week's total turnover stood at Tk 3,583 crore on the prime bourse as against Tk 5,801 crore in the previous week.
The daily average turnover stood at Tk 716 crore, down 4.0 percent over the previous week's average of Tk 1,160 crore.
Out of 384 issues traded, 84 declined, 71 advanced and 229 remained unchanged on the DSE.
On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) saw lower growth with its selective category index (CSCX) losing 13 points in the last week to close at 11,255 points.
The All-Share Price Index (CASPI) of the CSE was also lower by 21 points to close at 18,779 points. Of the 311 issues traded, 71 advanced, 57 declined and 177 remained unchanged on the CSE trading floor.
The port city's bourse traded 1.68 crore shares and mutual fund units with turnover value of Tk 92.20 crore during the last week.
