Stocks plunged for the second week with a significant decline in turnover as investors went on a selling spree amid political unrest and concern over the deadline for closure of omnibus accounts.

The DSE Broad Index (DSEX), the benchmark index of the Dhaka Stock Exchange, ended the week at 3,973.28 points, after losing 182.17 points or 4.38 percent, which is the highest single week fallin2013.

The market went through significant downward movement in the last week. The key index of DSE came down below the 4,000 points level on Wednesday for the first time this year.

"The stocks closed lower for another week confronting the political unrest and ambiguity on omnibus accounts closing issue," LankaBangla Securities said in its market analysis.

“Anxiety about omnibus account closure by February 28, reduction of banks' exposure to capital market and political overheating may have contributed to the panic of investors," LankaBangla said.

The week ended amid conspicuous volatility over political worries as well as rising concerns over omnibus accounts closeout deadline, stated IDLC Investments, in its weekly market analysis.

"With political situation getting cloudier over the last two weeks, investor sentiment has been weakened for long, causing participation to fall," the merchant bank said.

The market witnessed five trading

sessions as usual. Among those, DSEX suffered heavy losses of 273.28 points in three sessions, while two sessions gained marginally by65.95 points.

The daily average turnover on the DSE declined 41.31 percent as compared to the previous week.

Of the total 285 companies and mutual fund units that were traded during the week, among them 265 declined, 18 advanced and 2 remained unchanged.

All the major sectors posted huge losses with telecoms suffering the most by 9.59 percent in the past week, following the yearly financial and dividend disclosure by the sector heavyweight Grameenphone.

It was followed by power at 4.90 percent, non-bank financial institutions 4.42 percent and pharma 2.05 percent.

Summit Purbanchol Power Company dominated the week's top turnover list with 1.53 crore shares worth Tk 135 crore changing hands.

It was followed by United Airways, Argon Denims, Unique Hotel and Resorts, RN Spinning, Sunlife Insurance, Beximco Ltd, KPCL, EnvoyTextile andBSCCL.

Orion Infusion was the week's highest gainer posting a 7.09 percent rise, while Modern Dyeing and Screen Printing was the worst loser, slumping 24.15 percent.

The Chittagong Stock Exchange also suffered heavily in the last week with the CSE Selective Categories Index plunging 403.49 points or 4.87 percent to close at 7,880.76 points.