The stock market continued its downward trend for the fourth straight week as investor confidence remained lackluster.
The DSEX, the key index of the Dhaka Stock Exchange (DSE), fell by 55 points or 1.10 percent, closing the week at 4,918. Trading ended in the red on three out of four sessions, with the market closed on Thursday in observance of May Day.
The DS30 Index, representing 30 leading companies, dropped 22 points to settle at 1,823, while the DSES Index, which reflects Shariah-compliant stocks, declined by 11 points to 1,094.
Among the 394 traded issues, 199 declined, 158 advanced, and 37 remained unchanged.
Weekly turnover at the DSE fell to Tk 1,410 crore from Tk 1,718 crore the previous week due to a reduced number of trading days. However, the average daily turnover inched up by 2.6 percent to Tk 353 crore.
Investor activity was primarily focused on the banking sector, which contributed 16 percent to the week’s total turnover, followed by food (14 percent) and power (11 percent) sectors.
The telecom sector experienced the sharpest decline, falling by 5.13 percent, trailed by non-bank financial institutions, food, banking, and engineering sectors.
Midland Bank emerged as the top gainer with a 17 percent rise, while Progressive Life Insurance Company posted the highest loss, plunging by 25.12 percent.
The Chittagong Stock Exchange (CSE) also saw a decline, with its CASPI index dropping 151 points to close at 13,805.
