Stocks fall for fifth consecutive week

Stocks fell for the fifth consecutive week, as cautious sentiment prevailed throughout the trading. 

On Wednesday, when India launched airstrikes on Pakistan, the DSEX plunged 149 points or 3 percent to 4,802, the lowest in 56 months.

However, the index rebounded the next day, recovering almost 100 points.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), lost 15.64 points or 0.32 percent to close the week at 4,902. 

The DS30 index, comprising 30 leading companies, slipped 2.43 points to 1,820, while the DSES Index, which represents Shariah-compliant firms, dropped 19.9 points to 1,074.

Driven by an additional trading session this week, DSE turnover rose to Tk 2,415 crore last week from Tk 1,410 crore recorded the previous week, which had only four trading days due to the May Day holiday.

As a result, the average daily turnover surged 37 percent to Tk 483 crore.

Investors were most active in the banking sector, which accounted for 22 percent of the week's total turnover. 

The food and allied sector followed with 12.7 percent, while the power sector made up 9.9 percent.

Sectoral performance remained mixed. Mutual funds posted the highest gains, advancing 8.7 percent, whereas the paper sector dropped the most, falling 5.8 percent.

Out of the 394 issues traded during the week, 230 declined, 141 advanced and 23 remained unchanged.

Baraka Patenga Power Ltd emerged as the top gainer with a 57.80 percent rise, while Khulna Power Company Ltd was the biggest loser, shedding 14 percent.

The Chittagong Stock Exchange (CSE) also closed lower. Its key index, the CSE All Share Price Index (CASPI), dropped 101.44 points to settle at 13,704.