DSE All Share Price Index went down by 30.12 points or 2.33 percent to close at 1259.38 points yesterday while the DSE General Index declined by 31.12 points or 2 per cent to close at 1520.75 points.

DSE-20 Index, which comprises blue chips, also dipped by 20.44 points or 1.52 per cent to close at 1318.36 points.

Losers overwhelmed gainers as the bear dominated the market. Of the total 179 issues traded, 134 declined, 28 advanced and 17 remained unchanged. A total of 45,63,907 shares worth Tk 34.40 crore changed hands on the DSE.

Turnover in terms of value, however, increased to Tk 34.40 crore yesterday from Tk 25.21 crore on Sunday, the previous trading day.

Market analysts said during the last couple of days, participation of the key institutional investors in the capital market was very low, which is considered to be a major factor for the continuous downtrend.

Besides, they identified the existing tight monetary policy as another key reason behind the slide in share prices. They said the central bank recently mopped up a big chunk of money from the money market through banking instruments.

They also attributed the downtrend to the upcoming share offload of Power Grid Company of Bangladesh (PGCB) as investors are saving money for investing in the PGCB shares.

The PGCB will start share offloading on the country's bourses on October 9. The state-owned power company will join the stock exchanges by releasing 91,08,940 shares with a face value of Tk 100 each to raise around Tk 91.09 crore from the capital market.

The company will put 86,53,493 shares on sale for general public/institutions at market price while it will keep 4,55,447 shares to be sold to the directors and employees of the PGCB at the face value.