Dhaka stocks extended their rally for the eleventh straight week that ended on Thursday.
The key index closed near to 7,000 mark as the buoyant investors continued their buying spree riding on regulatory measures.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 129.74 points or 1.89 per cent to settle the week at 6,981 - the highest since its inception on January 27, 2013.
Two other indices--the DSE 30 Index and the DSE Shariah Index (DSES) -- followed suit to close at their new highs of 2,496 and 1,508, after rising 43.41 points and 21.46 points respectively during the week.
The week featured four trading days instead of five as the market remained closed on Monday due to public holiday on the occasion of Janmashtami. Of them, the first session closed lower while last three ended higher.
The market capitalisation of the prime bourse also hit a fresh all-time high at Tk 5,637 billion on Thursday, surpassing the previous high of Tk 5,600 billion recorded a day before.
The week's total turnover on the DSE stood at Tk 89.36 billion against Tk 130.42 billion in the previous week as last week saw four trading days against previous week's five days.
The daily average turnover stood at Tk 22.34 billion on the country's premier bourse, which was 14.35 per cent lower than the previous week's average of Tk 26.08 billion.
Experts said “the market remained bullish as the investors are more confident and buoyant amid the regulatory measures, lower returns on the money market coupled with excess liquidity on the financial market”.
The Bangladesh Bank asked all banks to submit stock-investment reports on a monthly basis instead of quarterly as was earlier while the securities regulator increased the IPO quota for general investors, which encouraged the investors, said a merchant banker.
The Bangladesh Securities and Exchange Commission (BSEC) recently approved the revised public issue rules, increasing the quota for general investors in initial public offering to 70 per cent, up from 60 per cent earlier.
"The latest regulatory measure to increase the IPO quota for general investors impacted the investors' sentiment positively," said EBL Securities.
The investors were taking position in general insurance, miscellaneous, food, cement, engineering and textile-sector stocks, which led the benchmark index near 7,000 points, said a leading stockbroker.
Among the major sectors, miscellaneous gained the most of 8.60 per cent, followed by general insurance with 6.80 per cent, cement 5.60 per cent, food 2.60 per cent, textile 2.30 per cent and banking 0.40 per cent.
However, some investors booked modest gains on mutual funds, financial institutions and telecommunications sectors, losing 3.10 per cent, 1.70 per cent and 0.80 per cent respectively.
The gainers took a strong lead over the losers as out of 378 issues traded, 247 closed higher, 114 lower and 17 issues remained unchanged on the DSE trading floor during the week.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -soaring 398 points to settle at historical high at 20,328 and the Selective Categories Index - CSCX-rising 234 points to close at new high at 12,183.
Of the issues traded, 212 advanced, 113 declined and 18 remained unchanged on the CSE trading floor.
The port city's bourse traded 113.18 million shares and mutual fund units with turnover value of Tk 3.41 billion.
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