Stocks keep winning streak for six straight weeks

Stocks witnessed yet another bullish week that ended on Thursday, with key index of the premier bourse hitting 23 months' high amid growing confidence of investors.
Analysts said the market maintained the upbeat trend for the six consecutive weeks as favorable macro-economic indicators coupled with persistent positive market scenario lured the sideline investors to take position, taking the prime index to 23 months' high.
"The market passed another shinning week as spontaneous participation backed by hopes and excitements coupled with steady capital market scenario continued to lure investors to take position on sector specific stocks," said an analyst at a leading brokerage firm.
The week witnessed five trading sessions as usual. Of them, first session saw marginal correction while last four closed higher with increased participation from investors.
Weak-on-week, the prime index of the Dhaka Stock Exchange (DSE), jumped 69.79 points or 1.45 per cent to finish the week at 23 months' high at 4,892.82, which was the highest level of DSEX since January 18, 2015, when DSEX was 4,917.37.
"Stock market of Bangladesh has just passed a remarkable week with broad index reaching 23 months' highest level as enthusiastic optimism shown by the investors," said LankaBangla Securities, a stockbroker, in its weekly analysis.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 7.96 points or 0.45 per cent to settle at 1,787.70. The DSE Shariah Index rose 11.86 points or 1.03 per cent to close at 1,161.37.
The port city bourse, Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index, CSCX, soaring 128.40 points or 1.42 per cent to close at 9,151.66.
Investors remained enthusiastic on investing and eventually the total turnover for the week jumped to Tk 43.51 billion which was Tk 36 billion in the week before.
Accordingly, the average daily turnover for the week stood at Tk 8.70 billion, which was 21 per cent higher than the previous week's average of Tk 7.20 billion. It was also the year's highest daily average turnover in a single-week.
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