Stocks witnessed a rising trend after breaking straight four-week losing streak asinvestors were busy to buy their holdings taking advantage of the recent price erosion.
Market analysts said many investors showed their buying interest in some selective stocks in anticipation of quick gains, which pushed the market up.
Price of shares has been down for continuing for several weeks attracting investors, especially after the regulatory stance to continue with floor price restrictions, they added. On the other hand, remittance and export growth in February increased which was a big plus among many other factors driving the market up, they mentioned.
However, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 8.63 points to settle the week at 6,213after losing 91 points in the past four straight weeks.
The DS30 Index, comprising blue-chip companies, decreased by 5.05 points to close at 2,216 and the DSES Index rose by1.43 points to finish at 1,345.09. The participation in the market also gained upward momentum as total turnover in the week rose to Tk 17.94 billion, up from Tk 10.93 billion in the last week.
The average daily turnover increased by 31 percent to stand atTk 3.58 billion over the corresponding period of previous day amounting toTk 2.73 billion.
Investors were mostly active in the IT sector, capturing 20.5 percent of the week's total turnover.
It was followed by life insurance (10.3 percent), pharmaceuticals (9.5 percent).
Of 372 issues traded, 205 remained unchanged, 111 declined while 56 advanced on the DSE floor.
Genex Infosys became the weekly turnover leader, with shares of Tk 1.13 billion changing hands.
It was followed by Bangladesh Shipping Corporation (Tk 980 million), ADN Telecom (Tk 922 million), Sea Pearl Beach Resorts (Tk 866 million) and Shinepukur Ceramics (Tk 88 million).
Bangladesh General Insurance Company was the week's top gainer, posting a 22.6 percent rise while Islami Commercial Insurance was the top loser, falling 10.92 percent.
On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) saw lower growth with its selective category index (CSCX) losing 29 points in the last week to close at 10,961 points.
The All-Share Price Index (CASPI) of the CSE was lower by 52 points to settle at 18,282.
Of the 232 issues traded, 33 advanced, 96 declined and 103 remained unchanged on the CSE trading floor.
The port city's bourse traded 6.21 million shares and mutual fund units with turnover value of Tk 43.30 crore during the last week.
