Dhaka, Bangladesh (BBN)-Bangladesh’s stocks saw sharp decline on Sunday with key index of the prime bourse dipped below 4,500 points mark after 6-week as investors’ sustained their ongoing depressed outlook.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down below 4,500 points mark and ended at 4,498.34 points, losing 56.76 points or 1.24 percent.

The DS30, comprising blue chips lost 20.97 points or 1.25 percent to close at 1,645.03 points.

The DSE Shariah Index (DSES) dropped by 8.82 points or 0.87 percent to close at 1,004.09 points.

Activities of the prime bourse remained stayed below BDT 4.0 billion level and the total turnover amounted to BDT 3.78 billion, registering an increase of 8.62 percent over the previous session’s value.

International Leasing Securities said, “The market dipped straight away from the begging of the day’s session as investors’ sustained their ongoing depressed outlook”.

Moreover, weak performance of some major shares like GP, BATBC, Square Pharma, Lafarge Surma Cement and Marico speeded the drift, said the Internal Leasing.

Meanwhile, poor earnings declaration of Heidelberg Cement and Linde BD disappointed the investors whereas they rewarded CVO Petrochemical Refinery and Bengal Windsor Thermoplastic for its corresponding positive news, the Internal Leasing Securities added.

“Hit on Mid Caps extended the losing trend to this session. Alongside, budgetary expectations seemed started playing its role in the market,” said IDLC Investments.

“The wider concern revolves around the market with some concern that further sell-off could trigger the down side in market,” commented LankaBangla Securities.

“Market has discounted a bunch of weaker than expected quarterly earnings. The benchmark index hit on more than one month’s low amid jerky participation of investors,” the stock broker said.

Out of 283 issues traded, 161 declined, 93 advanced and 29 issues closed unchanged on the DSE floor.

GP became the top turnover leader for the fourth consecutive sessions with shares worth BDT 179.75 million changing hands followed by Heidelberg Cement, Matin Spinning, Emerald Oil and BSCCL.

Pharma Aids was the day’s highest gainer; posting a rise of 9.59 percent while Shahjalal Islami Bank was the day’s worst losers, slumping by 10.79 percent following its price adjustment after record date.

The port city bourse — Chittagong Stock Exchange (CSE) — also witnessed sharp decline with its Selective Categories Index – CSCX — lost 93.59 points to stand at 8,669.80 points.

Losers beat gainers 130 to 64, with 20 issues remaining unchanged at the port city bourse that traded 6.76 million shares and mutual fund units, turnover value of BDT 276.49 million.

BBN/BB/AD-11May14-4:00pm (BST)