Dhaka Stock Exchange (DSE) closed the week in the red with a thin turnover amid huge sales pressure since Bangladesh Bank's action against overexposed banks last week.
The benchmark index, DSEX decreased by 44.16 points to close at 6,064.41 yesterday. The daily turnover decreased by 31.94 percent to Tk 743 crore.
Retail investors refrained from investing in the stocks fearing that further tough action may come against banks from the central bank, said market insiders.
As a result, price indices remained downward throughout the week with slumped turnover, they said.
Last Thursday the central bank fined seven banks for violating the stock rule over making investments in stocks. Investigation is ongoing against some other banks, prompting investors to refrain from making transactions.
“Market went on a rollercoaster ride throughout the trading session and ended on a negative territory yesterday,” according to daily market research of UCB Capital Management.
Most of the major sectors witnessed moderate correction yesterday, the research said. Among the major sectors, only pharmaceuticals and chemicals posted a 0.2 percent gain.
The banking sector led the market yesterday by contributing 42.30 percent of the total turnover, according to the research.
Brac Bank accounted for the highest number of traded shares with a turnover of Tk 37.97 crore, followed by Ifad Autos with Tk 37.95 crore.
At DSE, 97 securities gained price, 197 declined and 37 remained unchanged. DS30 and DSES were 10.99 and 6.86 points in the red respectively.