Stocks fall for 6th straight week

Stocks extended a losing streak for the sixth straight week as investors lost their confidence in the ongoing bearish trend.

Market analysts said most of the investors took cautionary measure to avoid further losses amid continuously falling share prices.

On the other hand, the capital market witnessed downward trend on selling pressure from large institutional investors, they added.

Investors fear further losses as the market is facing downward trend continuously, they said adding that, for this reason, ordinary investors have also sold shares after seeing the institutional investors. So, the market price continued to fall, they mentioned.

They have urged the investors not to pay heed to the rumours and get out of this situation.

Investors should invest in good financial-based companies after analysis, they mentioned.

On the other hand, newly-listed stocks saw price-correction in few weeks as those securities witnessed an upward trend continuing after listing in the market, they added.

DSEX, the prime index of the Dhaka Stock Exchange (DSE) decreased by 59.60 points or 1.09 percent to finish at 5,416.

DSEX went down more than 493 points in the past six consecutive weeks.

The DSE’s 30 Index comprising blue chips went up by 39.78 points to close at 2,065 and the DSE Shariah Index (DSES) decreased by 16.61 points to finish at 1,225 points during the time.

Total weekly turnover went down to Tk 2335 crore last week from Tk 4,437 crore in the previous week.

Robi Axiata was the week's top gainer and was higher 11.20 percent to close at Tk 43.70 on Thursday.

It was followed by BATBC, LankaBangla Finance and Beximco Pharmaceuticals.

NCC Bank Mutual Fund-1 was the week's worst loser, losing 14.44 percent following its price adjustment after record date during the week.

The market capitalisation of the DSE advanced 0.28 percent to Tk 4,669 billion on Thursday, from Tk 4,656 billion in the week before.

Out of 365 issues traded on DSE, 121 ended higher, 126 closed lower and 118 remained unchanged on the DSE floor.

On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw a rapid fall with its selective category index (CSCX) losing 103 points during the last week to close at 9,544 points on Thursday.

The All-Share Price Index (CASPI) of the CSE was lower by 171 points during the time to close at 15,650 points on Thursday.

Of the 272 issues traded, 128 declined, 82 advanced and 63 remained unchanged on the CSE in last week.

The port city's bourse traded 29 million shares and mutual fund units with turnover value of Tk 122 crore during the last week.