Stocks extended the winning streak for the second consecutive week as investors put fresh stakes on stocks amid eased lockdown worries.
The market closed higher on all five trading sessions of the week amid increased participation of investors despite ongoing 'strict' lockdown and reduced trading hours.
The two and a half hours transaction has been taking place on the market since April 5 under the complete lockdown imposed to slow the spread of the coronavirus infection.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 124.84 points or 2.35 per cent to settle at 5,435.
The DSEX added more than 180 points in the two consecutive weeks.
Two other indices also ended higher with the DSE30 Index, comprising blue chips, soared 60.73 points to finish at 2,087 and the DSE Shariah Index (DSES) rose 28.31 points to close at 1,237.
However, presence of investors on the trading floor was very thin due to ongoing lockdown. Most investors executed their trading online or through mobile app, a Dhaka Stock Exchange (DSE) official told the FE.
The week's total turnover on the prime bourse jumped to Tk 42.60 billion which was Tk 20.19 billion in the week before as last week saw five sessions instead of previous week's four.
The daily turnover averaged out at Tk 8.51 billion, which was 68.77 per cent higher than the previous week's average of Tk 5.05 billion.
Market operators said the recent growth in turnover and index -- the two most important indicators of the market -- in general suggests investors' confidence in the market is back on the ascent despite strict lockdown.
Easing virus-induced lockdown worries, increased marginal loan limit coupled with lowering the circuit breaker for several companies prompted investors to put fresh funds on stocks, said a leading merchant banker.
"Continuous growth in turnover pushed investors' confidence high and high volume suggested that institutional investors were largely active in the market," he said.
Block trade contributed 10.7 per cent to the total weekly turnover, where stocks like Provati Insurance (Tk 1.13 billion), Grameenphone (Tk 1.25 billion), United Power (Tk 1.25 billion) and Eastern Insurance (Tk 149 million) dominated the block trade board.
Beating worries of rising Covid-19 cases and extension of lockdown, the investors turned their focus to sectors wise low-priced stocks as they believe continuation of industrial activities will continue to drive economic recovery, commented EBL Securities.
The stockbroker noted that the regulatory efforts to keep the market open despite lockdown largely contributed to tame investors' worries.
Buoyancy was observed in general insurance, financial institution, pharma, power and engineering sectors amid rising confidence of the investors beating the lockdown worries, commented International Leasing Securities.
General insurance sector continued to show the robust performance with a gain of more than 9.0 per cent. Among the top ten gainers, six came from the general insurance sector.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -soaring 344 points to settle at 15,723 and the Selective Categories Index - CSCX rising 208 points to close at 9,485.
Of the issues traded, 171 advanced, 88 declined and 46 remained unchanged on the CSE trading floor.
The port city's bourse traded 32.51 million shares and mutual fund units with turnover value of Tk 1.16 billion.
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