Stocks posted a marginal gain, extending the gaining streak for the third straight week, as the optimistic investors continued their buying appetite on sector-wise issues amid positive expectation.
The week featured four trading days as the market remained closed on December 16 due to Victory Day. The first two days ended higher while the last two faced correction.
Week-on-week, DSEX, the core index of the Dhaka Stock Exchange (DSE), went up by 13.37 points or 0.26 per cent to settle at 5,108.
The prime index added more than 238 points in three straight weeks while market capitalisation surged Tk 264 billion during the period under review.
Market analysts said the optimistic investors continued their buying appetite on sector-wise large-cap stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the market.
Regulatory moves regarding strong bond market, big IPO approval and disciplinary action against wrongdoers boosted investors' confidence to the market, said a merchant banker.
He noted that the regulator is continuing its effort to enhance the market depth through listing of large-cap companies having good fundamentals and the news that some big companies are waiting for necessary approval for listing, tempted the investors to stay afloat.
The investors are deemed to remain optimistic on the vibrant capital market in days ahead based on a strong economic turnaround in this unprecedented time, commented EBL Securities.
According to International Leasing Securities, the investors' enthusiasm sustained as the institutional investors including the global fund managers were taking positions on large-cap stocks.
The stockbroker noted that ADB retained Bangladesh's GDP growth outlook unchanged from its September update of 6.8 per cent for the current fiscal year amid Covid-19 pandemic, UN projections show high hope upon graduation from LDC and foreign exchange reserves hit a new record of $42.09 billion.
The securities regulator is set to appoint independent directors in the 24 companies' that failed to ensure minimum shareholding of 30 per cent by sponsor-directors, also tempted the investors to stay afloat in the market, said the stockbroker.
Two other indices also edged higher. The DSE 30 Index comprising blue chips soared 23.46 points to finish at 1,798 and the DSE Shariah Index (DSES) advanced 10.57 points to close at 1,180.
Total turnover, a crucial indicator of the market, stood at Tk 36.59 billion as against Tk 41.73 billion in the week before as last week saw four trading sessions.
The daily turnover averaged Tk 9.14 billion, which was 9.62 per cent higher than the previous week's average of Tk 8.34 billion.
The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index - CASPI -gaining 68 points to settle at 14,670 and the Selective Categories Index - CSCX advancing 48 points to close at 8,837.
Of the issues traded, 161 declined, 90 advanced and 62 remained unchanged on the CSE.
The port city's bourse traded 65.28 million shares and mutual fund units with turnover value of Tk 2.13 billion during the week.
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