The regulator's efforts to buck up investors proved futile as stocks declined for the fifth consecutive day yesterday.

DSEX, the benchmark index of the Dhaka Stock Exchange, shed some 6.32 points or 0.14 percent to finish the day at 4,410.57 points.

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Bangladesh Securities and Exchange Commission on Monday sat with top merchant banks and stockbrokers to discuss the current market situation. At the meeting, the merchant banks and stockbrokers urged the regulator to extend the deadline for bringing down banks' investment in the stockmarket by another four years.

The market gained slight momentum in the opening hour riding on the optimism spurred by regulator's remedial efforts, IDLC Investments said.

“The investors tried to rejuvenate their investment sentiment pushing the index upward during most of the session,’ the merchant bank said. But, buyers were exhausted by the day's end and the index closed lower, it said.

A lack of attractive investment prospects amid the ongoing uncertainty suppressed market activities, IDLC said in its regular analysis.

Turnover, another important indicator of the market, also fell 8.7 percent to Tk 294.07 crore with 7.9 crore shares and mutual fund units changing hands on the DSE.

Of the traded issues, 103 advanced, 164

declined and 45 securities closed unchanged on the premier bourse.

Titas Gas dominated the turnover chart with 39.16 lakh shares worth Tk 21.68 crore changing hands, followed by Ifad Autos, Square Pharma, Quasem Drycells and Beximco Pharma.

Among the major sectors, food and allied gained 0.58 percent in market capitalisation, followed by bank that rose 0.39 percent and pharma 0.16 percent.

Conversely, non-banking financial institutions declined 6 percent, followed by fuel and power 1.96 percent and textile 1.07 percent.

Northern Jute Manufacturing Company was the day's best performer with an 8.11 percent rise, while Investment Corporation of Bangladesh was the worst loser, shedding 11.83 percent.

Chittagong stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 23.84 points or 0.29 percent to finish the day at 8,192.27 points.

Losers beat gainers as 120 declined and 83 advanced, while 35 finished unchanged on the Chittagong Stock Exchange, which traded 62.93 lakh shares and mutual fund units worthTk 19.30 crore in turnover.