Dhaka, Bangladesh (BBN)– Bangladesh’s stocks slipped for the third straight week with key index of the prime bourse hitting five months low as investors’ sold shares throughout the week amid shaky confidence.
 

Week-on-week, the prime index of Dhaka Stock Exchange (DSEX) went down by 138.16 points or 3.03 per cent to close the week at 4,416.96 points, hitting five months low since January 9, 2014.
 

The other two indices also saw steep decline. The DS30, comprising blue chips lost 61.62 points or 3.70 per cent to close at 1,604.39 points. The DSE Shariah Index went down by 28.08 points or 2.77 per cent to close at 984.84 points.
 

The port city bourse — the Chittagong Stock Exchange (CSE) also dropped sharply last week with its Selective Categories Index — CSCX lost 254.56 points or 2.90 per cent to close the week at 8,508.84 points.
 

The average daily turnover of the week stood at BDT 3.64 billion, registering a decline of 4.90 per cent over the previous week’s average of BDT 3.83 billion.
LankaBangla Securities said, “Investor sentiment seems to be highly bearish. Poor first quarter performance by listed companies and banks’ reduction of capital market exposure is getting heavier on market”.
 

Investors’ confidence has been shaken as any definite stock wise or sector wise trend failed to emerge in the market. Especially, financial sector behaved erratically, reflecting investors’ underweighting of accounting numbers in recent investment decision making, said IDLC Investments.
 

Out of 303 issues traded during the week, 220 declined, 67 declined and 16 issues remained unchanged on the DSE trading floor.
 

GP dominated the week’s top turnover chart with shares worth BDT 670.05 million changing hands during the week followed by Matin Spinning, Square Pharma, Lafarge Surma Cement and Newly debut Hwa Well Textiles.
 

JMI Syringe & Medical Devices was the week’s top gainer, posting a rise of 14.18 per cent while Renata was the week’s worst loser, slumping by 25.62 per cent following its price adjustment after record date.
 
BBN/SSR/AD-16May14-6:62 pm (BST)