The Dhaka Stock Exchange (DSE) lost Tk 21,140 crore of its market capitalization (market-cap) in the last week as investors sold their securities amid growing concerns over the global crisis.
The market-cap of the DSE stood at Tk 509,872.18 crore last week against Tk 531,013 crore of the previous week.
On the other hand, stocks witnessed losing streak for straight three weeks as nervous investors rushed to dump their holdings to avoid further erosion of their portfolios.
Market analysts said the investors have taken caution mood to avoid risk as multiple factors such as rising inflation, shortage of dollar supply and local currency devaluation coupled with rising cost of essential have together hurt investors’ sentiment.
Although the stock market regulator is trying to increase institutional fund flows to the market, but it failed to rebound the market and investors’ sentiment, he added.
So, the risk-averse investors kept their selling spree on large-cap stocks to avoid further erosion of their portfolios, they mentioned.
The nervous investors and the risk-averse investors offloaded their holdings on sector-wise securities including multinational ones, putting pressure on the market, they said.
However, the key DSEX index of Dhaka Stock Exchange (DSE), went up 307.22 points or 4.68 percent to close at 6,258. The DSEX decreased by about 404 points in the past three consecutive weeks.
The DS30 index, comprising blue chips, declined by 90.24 points to settle at 2,316 while the DSE Shariah Index (DSES) decreased by 49.13 points to finish at 1,383.
The week's total turnover also dropped to Tk 32.35 billion on the DSE as against Tk 53.98 billion in the week before.
The daily turnover averaged out at Tk 8.08 billion, down 25 percent from the previous week's average of Tk 10.79 billion.
Out of 386 issues traded, 360 declined, 20 advanced and six remained unchanged.
Beximco was the most-traded stock with shares worth Tk 2.03 billion changing hands.
It was followed by Shinepukur Ceramics (Tk 1.59 billion), JMI Hospital Requisite Manufacturing (Tk 1.32 billion), Islami Bank (Tk 911 million) and RD Food (Tk 720 million).
S Alam Cold Rolled Steels was the week's top gainer, posting a 34.15 percent gain in the falling market, while RD Food was the worst loser, losing 18.30 percent.
The Chittagong Stock Exchange (CSE) also ended lower, with the CSE All Share Price Index (CASPI) losing 809 points to close at 18,439 and its Selective Categories Index (CSCX) declining 486 points to finish the week at 11,064.
Of the 351 issues traded, 312 declined, 34 advanced, and five issues remained unchanged on the CSE trading floor.
The port-city bourse traded 4.70 crore shares and mutual fund units with turnover value of Tk 121 crore.