Stocks witnessed a gaining streak for the second straight week on Thursday as investors showed buying spree in sector-wise securities especially in general insurance.
Market analysts said investors were busy to buy insurance stocks following the government's approval to introduce bancassurance, a model of selling insurance products through banking channels.
On the other hand, the insurance sector became some momentum as investors showed their buying interest heavily in the insurance stocks in anticipation of short-term profit.
Six insurers featured in the top gainers list after the government gave itsconsent to launch ‘bancassurance’ as almost all general insurance shares closed higher, they added. DSEX, the key index of the Dhaka Stock Exchange (DSE),
move up 24.51 points to settle the week at 6,365.61. DSEX added approximately 31 points in the past two weeks.The DSES index, which represents Shariah-based companies, also went up 3.76 points to 1,383 while the DS30 Index, which comprises blue-chip companies, decreased by 0.24 point to stand at 2,496.
However, the total turnover of the market also increased to Tk 47.35 billion against Tk 42.57 billion in the week before.
The average daily turnover went up by 11.23 percent to close at Tk 9.47 billion in the last week as against Tk 8.51 billion in the previous week.
Of the 394 issues traded, 118 closed higher, 23 ended lower and 197 issues remained unchanged during the week on the DSE trading floor.Fu-Wang Food kept its dominance in the weekly turnover charts with shares worth Tk 3.10 billion changing hands.
Janata Insurance was the week’s top gainer, posting a rise of 44.10 percent while Rupali Life Insurance was the worst loser, shedding 27.4 percent.
Meanwhile, the All-Share Price Index of the CSE was higher by 47 points during the time to close at 18,779 points on Thursday.
The CSE's Selective Categories Index (CSCX) went up by 40 points toclose the week at 11,228.Of the 313 issues traded, 99 declined, 76 advanced and 138 remained unchanged on the CSE.
The port city’s bourse traded 3.12 crore shares and mutual fund units with turnover value of Tk 80 crore.
