The turnover value on the premier bourse hit a 50-session low Thursday, extending the market downtrend for a fourth straight session.

The value on the Dhaka Stock Exchange (DSE) declined by 37.12 percent from that of the previous trading session and stood at Tk 1.7 billion, the lowest in last 50 trading sessions. Earlier on Mar 12, the turnover value amounted at Tk 1.42 billion.

The benchmark DGEN General Index of the DSE ended at 4,798 points, after declining by 31 points or 0.63 per cent at the end of four-hour trading session.

The broader DSE All Shares Price Index, DSI, also plummeted 23 points or 0.55 per cent to 4,055 while the DSE-20 index comprising blue-chip shares also plunged 13 points or 0.34 per cent to 3,679. Of the total issues traded yesterday, 76 issues gained, 154 declined and rest 25 remained unchanged.

“Investors kept inactive due to deteriorated confidence level and uncertainties amid ongoing court issues regarding minimum share holding,” said IDLC in its regular market analysis. Besides, they (investors) kept watchful to the upcoming budget in the first week of June 2012, it added.

As an investment strategy, reduction of portfolio exposure and waiting for the future favorable investment timing in a more certain environment was preferred to the mass, it further said.

None of the major sectors gained yesterday with non-banking financial institutions losing 0.77 percent, banks 0.66 percent, power 0.51 percent, pharmaceuticals 0.44 percent and telecommunication 0.29 percent.

LankaBangla Finance continued to top the turnover chart for the fourth straight session this week with total turnover value of Tk 97.9 million.

Lafarge Surma Cement, Jamuna Oil, Grameenphone, Beximco, Meghna Petroleum, MI Cement, Fareast Life Insurance, Aftab Automobiles and National Bank were the other most traded shares of the day.

AB Bank First Mutual Fund, Rahim Textile, Hakani Pulps, AIBL First Mutual Fund, Second ICB Mutual Fund, Standard Insurance, Power Grid, Rangpur Foundry, NCC Bank First Mutual Fund and Sixth ICB Mutual Fund were the top gainers of the session.

The session’s worst losers were Tallu Spinning, Progati Life Insurance, BD Thai, ICB AMCL First Mutual Fund, Quasem Drycell, Phenix Insurance, BIFC, Jamuna Bank, Karnaphuli Insurance and Saffko Spinning.