DSEX adds 730 points in seven straight weeks

Stocks extended their rally for the seven consecutive weeks that ended on Thursday as investors continued to put fresh bets on stocks amid budgetary expectations.
Week-on-week, DSEX, the core index of the Dhaka Stock Exchange (DSE), went up by 172.75 points or 2.97 per cent to settle at 5,986, gradually heading towards the next 'psychological' threshold of 6,000-mark.
It was also the highest level of DSEX in more than 40 months since February 15, 2018, when DSEX was 6,050.
DSEX added more than 730 points in the past seven consecutive weeks.
Two other indices also ended higher with the DSE30 Index, comprising blue chips, rose 11.26 points to finish at 2,189 and the DSE Shariah Index (DSES) soared 12.20 points to close at 1,285.

Market capitalisation of DSE also surged to a fresh all-time high at more than Tk 5,027 billion on Thursday, snapping the previous high of Tk 5,017 billion recorded on January 14, this year.
Market experts opined that lower returns on the money market, liquidity glut in the banking sector, enlistment of some good securities, and proactive regulatory measures, are the reasons behind the present bullish trend in the stock market.
The investors are hopeful about the market as stocks have been in a rising trend for the last few weeks amid easing virus worries coupled with high hopes in the upcoming budget, said leading investment banker.
The investors' enthusiasm sustained, as the institutional investors, including high net worth individual investors, were putting fresh funds on stocks, particularly on bank stocks amid earnings surprises, he said.
Remaining under pressure for a long time due to rising bad loans, the heavyweight banking sector came to limelight as the sector gained sharply by 8.30 per cent, driven by AB Bank and NRB Commercial Bank, which gained 31 per cent and 30 per cent respectively.
Investors poured fresh funds into banking stocks considering the fact that the sector remains at a very low level amid better than expected earnings and satisfactory dividend declarations, he added.
The week's total turnover on the prime bourse jumped to Tk 76.84 billion which was Tk 84.24 billion in the week before. However, last week saw four trading days instead of previous week's five.
The daily turnover averaged out at Tk 19.21 billion, which was 14 per cent higher than the previous week's average of Tk 16.85 billion.
The recent growth in turnover and index - the two most important indicators of the market in general - suggests that the investors' confidence in the market is back, said a leading broker.
The expectation about positive performance and favorable earnings declarations continued to encourage the investors to take position on sector specific stocks, commented International Leasing Securities.
EBL Securities said banking stocks continued to soar on the back of earnings surprises and investors restored confidence in the financial stocks.
The stockbroker noted that investors continued to concentrate their focus on the insurance stocks as life insurance and general insurance sector generated highest weekly returns.
The general insurance sector dominated the turnover board and captured around 21 per cent of the total weekly turnover, closely followed by banking with 19 per cent and miscellaneous 10 per cent.
Among the major sectors, life insurance generated the highest return, gaining 10.60 per cent, followed by general insurance with 9.50 per cent, banking 8.30 per cent, textile 3.70 per cent, engineering 3.30 per cent and financial institutions 3.10 per cent.
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