Dhaka stocks fell for the third consecutive week in the past week amid economic worries and the ongoing countrywide turmoil centring the quota reform movement, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 79.71 points, or 1.47 per cent, in the past week to end at 5,333.94 points.
Market operators mentioned that investors were feeling uneasy due to the ongoing unrests in the country.
They said that investors were cautious and keeping a close eye on the market since there were no clear signs of a lasting rise in share prices.
The total turnover of the Dhaka bourse too decreased in the past week, as investors reduced trading activities.
The total turnover on the DSE decreased by 13.73 per cent in the past week to reach Tk聽2,394.60 crore compared with that of Tk聽2,220.42 in the previous week.
The DSE operated in all five sessions in the past week, while it operated on four sessions in the previous week.
The country had faced an internet blackout from July 18-24 that halted digital and mobile financial services.
Market operators said that users were still facing internet issues, including slow speed.
They said that the interruption in digital trading was a setback for the capital market.
They also said that inflation was high, foreign exchange reserve was at a low point and the suspension of economic activities for several days amid the student protests affected the investors鈥� confidence.
Moreover, the circuit breaker imposed by the Bangladesh Securities and Exchange Commission was not letting the market move at its own pace, they said.
Of the 397 stocks traded in the past week, 49 went up, 327 went down and 21 stayed the same.
Investors were mostly active in pharmaceutical scrips, followed by bank and food shares.
EBL Securities in its weekly market commentary said, 鈥楾he capital bourse extended its bearish momentum for three consecutive weeks as investors remained anxious about the potential macroeconomic impact of certain events surrounding the nationwide student protests.鈥�
鈥楬owever, the market showed some recovery signs in the last two sessions of the week as bargain hunters took positions in certain beaten-down scrips to avail short-term gaining opportunities following substantial corrections,鈥� it added.
The DSE Shariah index decreased by 17.99 points, or 1.52 per cent, to close at 1,165.38 points in the past week.
The DS30 index lost 31.92 points, or 1.65 per cent, to finish at 1,900.85 points.
Techno Drugs topped the average weekly turnover chart with shares worth Tk 32.44 crore changing hands per session.
Agni Systems, Orion Infusion, Alif Industries, NRB Bank, Taufika Foods and Lovello Ice-cream, Sea Pearl Beach Resort & Spa, Square Pharmaceuticals, Unilever Consumer Care and Far East Knitting & Dyeing Industries were some of the other turnover leaders.
