Stocks expanded gaining streak for the four straight weeks as many investors continued their buying spree on different sector securities despite coronavirus worries.
Market analysts said stocks showed rapid growth in the last several weeks as investors held their position by buying different securities despite worries over virus-infused shock to the country's economy.
Budgetary measures, removal of the floor price restriction, lower returns from the money market and several regulatory reforms to build a vibrant capital market contributed to the index crossing 6300-mark, they said.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 6,300-mark on last trading day of the week after more than 42-month as buying binge added strength to the equity indices despite virus worries.
They added the stocks witnessed upward trend due to positive regulatory initiatives like including formation of capital market stabilisation fund rules, SME board, new IPO allotment rules and re-listing of OTC companies, which boosted the investors' confidence in the market
The securities regulator has issued a set of rules, paving the way for creating a special fund of Tk 210 billion to help revitalise the capital market, they added.
However, DSEX, the prime index of the DSE, increased by 94.59 points or 1.52 percent to settle at 6,307.
DSEX added 255 points in the past four consecutive weeks.
However, the DSE30 Index, comprising blue chips, increased 26.69 points to close at 2,274.91 and the DSE Shariah Index (DSES) went up 17.81 points to close at 1,359.36.
Market capitalization of the prime bourse also rose to Tk 5,252 billion for the first time, up from Tk 5,219 billion in the week before.
The daily turnover averaged out at Tk 16.76 billion, which was 4.61 percent higher than the previous week's average of Tk 16.02 billion.
Of the 377 issues traded, 267 advanced, 94 declined and 16 issues remained unchanged on the DSE trading floor during the week.
Bangladesh Export Import Company was the most traded stock with shares worth Tk 594.36 crore changing hands, making up nearly 8.86 percent of the week's total turnover.
It was followed by Power Grid Company, LafargeHolcim, Bangladesh Finance and Investment and Sonali Life Insurance Company.
On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw a rapid growth with its selective category index (CSCX) gaining 56 points in the last week to close at 13429.80 points.
The All-Share Price Index (CASPI) of the CSE was higher by 317 points to close at 18318.57 points.
Of the 338 issues traded, 244 advanced, 77 declined and 16 remained unchanged on the CSE floor.
The port city's bourse traded 11.09 crore shares and mutual fund units with turnover value of Tk 243.40 crore during the last week.
