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Stocks extended the losing streak, with the prime index of the Dhaka bourse losing 268 points over the seven straight sessions to Monday.
Market insiders said the jittery investors continued to dump their holdings to avoid further erosion of their portfolio as the prolonged bearish trend frustrated them to put in fresh funds.
DSEX, the prime index of the Dhaka Stock Exchange, went down further by nearly 70 points, or 1.17 per cent, to settle at a three-year low of 5898.
The market was already bearish after the withdrawal of ‘floor price’ from the largest and second largest market-cap stocks, while the rising interest rate coupled with holy Ramadan kept investors reluctant to put fresh funds into stocks.
Two other indices also ended lower. The DS30 index, which consists of blue-chip companies, plunged almost 9 points to 2,042, while the DSES index, which represents Shariah-based companies, lost 13 points to 1,286.
The turnover dropped below the Tk 5 billion mark and amounted to Tk 4.87 billion, which was 5.4 per cent lower than the previous day’s turnover of Tk 5.15 billion.
More than 83 per cent of the issues traded saw price erosion, as out of 396 issues traded, 330 saw a price fall, 34 witnessed price appreciation, and 32 remained unchanged on the DSE trading floor.
Low-cap stocks dominated the turnover list, with Golden Son becoming the most traded share, with shares worth Tk 200 million changing hands, followed by Fu-Wang Ceramic, Taufika Foods and Lovello Ice-Cream, and Central Pharma.
Newly listed Asiatic Laboratories was the day’s top gainer, posting a 9.79 per cent rise, while Golden Son was the worst loser, shedding 9.05 per cent.
Chittagong Stock Exchange also saw a sharp decline, with its All Shares Price Index (CASPI) losing 161 points to 16,929 and the Selective Categories Index (CSCX) shedding 96 points to 10,165.
Of the issues traded, 157 declined, 46 advanced, and 24 others remained unchanged on the CSE.
The port city bourse traded 5.02 million shares and mutual fund units with a turnover value of Tk 130 million.