Dhaka, Bangladesh (BBN)-Bangladesh’s stocks extended the losing streak for the sixth running sessions on Sunday as investors reluctant to make fresh investments amid shaky confidence.

DSEX, the prime index of the Dhaka Stock Exchange, went down by 14.44 points or 0.32 percent to close at 4,402.50 points.

The DS30, comprising blue chips lost 6.47 points or 0.40 percent to close at 1,597.92 points.

The DSE Shariah Index (DSES) also dropped 3.07 points or 0.31 percent to close at 981.77 points.

The total turnover on DSE dipped below Tk 3.0 billion mark and amounted to BDT 2.29 billion, registering a decline of 25 percent over the previous session’s value.

It was also 22-session low turnover since BDT 2.24 billion on April 13.

“The market declined in continuation of previous week as concern of stacking pressure on interest rate due to higher borrowing target in coming budget for FY 2015 and slew of institutional sell promoted investors to book profit,” commented LankaBangla Securities.

“The market prolonged its waning tone while turnover dipped significantly. The investors remained vigilant before taking any fresh position in such bearish market condition,” said International Leasing Securities.

“As Q1 2014 declarations almost passed by, earnings driven momentum has lost its pace. Lack of clarity in several macro issues, including budgetary expectations, political scenario formed a dubious, ‘hard to interpret’ outlook for the investors,” said IDLC Investments.

Out of 287 issues traded, 145 declined, 109 advanced and 33 issues closed unchanged on the DSE floor.

The newcomer Hwa Well Textiles became the top turnover leader with shares worth BDT 124.97 million changing hands followed by Golden Son, GP, Lafarge Surma Cement and Apex Footwear.

Investors’ concentration was focused on textile, pharmaceuticals and engineering sectors, accounted for 18.02 per cent, 16.08 percent and 10.59 percent respectively of total market’s turnover.

Ambee Pharma was the day’s highest gainer; posting a rise of 16.48 per cent following its hefty dividend declaration while Golden Son was the day’s worst losers, slumping by 19.68 percent following its price adjustment after record date.

The port city bourse — Chittagong Stock Exchange (CSE) also declined with its Selective Categories Index — CSCX — lost 38.95 points to stand at 8,469.88 points.

Losers beat gainers 117 to 45, with 34 issues remaining unchanged at the port city bourse that traded 5.51 million shares and mutual fund units, turnover value of BDT 205.86 million.

BBN/BB/AF-18May14-3:20pm (BST)