Turnover on the Dhaka Stock Exchange (DSE) dipped below Tk 6.0 billion-mark on Thursday after more than two months as investors were reluctant to take fresh exposure in the market.
Turnover, the most important indicator of the market, fell 16.67 per cent to Tk 5.95 billion as compared to the previous day.
It was also the lowest single-day transaction since February 06 this year when the turnover totalled Tk 5.76 billion.
"The ongoing pessimism has made investors mostly inactive, bringing the turnover to a five-month low," said an analyst of a leading brokerage firm.
The market started with a positive note and the key index of the premier bourse rose about 22 points within first 30 minutes of trading, but could not sustain the momentum as the session progressed, finally closed almost flat.
DSEX, the prime index of the DSE, finished at 5,645.86, losing 0.51 point over the previous session.
DSEX lost about 132 points in the past seven consecutive sessions after reaching a record high of 5,777 points on April 04 since its introduction in January 2013.
LankaBangla Securities, a stockbroker, said, "The key index remained flat with a loss of 0.52 points, with turnover falling below Tk 6.0 billion once again."
The stockbroker noted that index moved upward at the beginning of the trading session reaching 5,668-level until around 11:00 am. But from 11:00 am, index sharply moved downwards and fell as low as 5,639-level.
The two other indices also closed lower. The DS30 comprising blue chips fell 6.26 points or 0.29 per cent to finish at 2,087.34. The DSE Shariah Index (DSES) lost 3.66 points or 0.28 per cent to settle at 1294.88.
International Leasing Securities, a stockbroker said, "The market observed yet another bearish trading session, extending the losing spell for the seventh consecutive sessions, as risk-averse investors continued their selling spree."
The stockbroker noted that the market started with an upward trend, but it failed to continue till the closure due to sales pressure of the cautious investors.
"Investors' selling spree was observed in different sectors, especially in telecom and financial institution sectors while the bargain hunters were active with the bank, textile and food sector stocks," said the stockbroker.
IDLC Investments, a merchant bank, said, "The market underwent reshuffling by investors, with small-cap classes emerging as gainers and large-cap classes declining."
A total number of 0.104 million trades were executed in the day's trading session with a trading volume of 182.43 million securities.
The total market capitalisation of DSE came down to Tk 3,783 billion which was Tk 3,787 billion in the previous day.
Large-cap sectors showed mixed performance. Telecommunication witnessed the highest loss of 1.10 per cent, followed by financial institutions 0.99 per cent and pharmaceuticals 0.27 per cent.
Food and allied sectors posted the highest gain of 0.89 per cent, followed by engineering 0.21 per cent, fuel and power 0.05 per cent, bank 0.01 per cent.
Losers took a strong lead over the gainers, as prices of 157 securities declined, 121 advanced and 46 remained unchanged out of the 324 issues that were traded on the DSE floor.
LankaBangla Finance topped the DSE turnover chart for the fourth day in a row with about 3.41 million shares worth Tk 214 million changing hands, closely followed by Paramount Textile, Tung Hai Knitting and Dyeing, IDLC Finance and Doreen Power.
Regent Textile was the day's highest gainer, posting 8.60 per cent gain, while Phoenix Insurance Company was the worst loser, shedding 6.98 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index - CSCX - losing 14.75 points to settle at 10,594 points.
Gainers beat losers as 106 issues closed higher, 94 closed lower and 36 remained unchanged on the CSE.
The port city bourse traded 19.52 million shares and mutual fund units' worth over Tk 478 million in turnover.