The capital market started well in the first week of the new fiscal year amid virus worries.
Stocks witnessed an upward trend and extended rally for the third straight week as many investors continued their buying spree on different sector securities despite maintaining strict lockdown to prevent coronavirus infection.
The government enforced movement restrictions from 28 June and it extended with more strict restrictions in several phases in the face of a surge in Covid-19 infections in the country.
In the latest instance, the restrictions were extended until July 14.
All types of public transport, institutional activities, shops and shopping malls are closed.
During the lockdown, the capital market will be open only four days, Monday to Thursday, as per the banking schedule.
However, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), increased by 62.29 points or 1.01 percent to close at 6,212. DSEX added 160 points in the past three straight weeks.
Market analysts said the prime index of the DSE crossed the 6,000 point mark as investors held their position by buying different securities despite worries over virus-infused shock to the country's economy.
Budgetary measures, removal of the floor price restriction, lower returns from the money market and several regulatory reforms to build a vibrant capital market contributed to the index crossing 6200-mark, said a merchant banker.
They added the stocks witnessed upward trend due to positive regulatory initiatives like including formation of capital market stabilisation fund rules, SME board, new IPO allotment rules and re-listing of OTC companies, which boosted the investors' confidence in the market
The securities regulator has issued a set of rules, paving the way for creating a special fund of Tk 210 billion to help revitalise the capital market, they added.
Despite the virus-induced strict lockdown, most of the investors, especially the institutional ones, took advantage of low-priced shares of some large-cap issues which helped the market end higher, they mentioned.
However, the DSE30 Index, comprising blue chips, increased 39.83 points to close at 2,248 and the DSE Shariah Index (DSES) went up 26.79 points to close at 1,341.
The investors' interest in textile, mutual fund, pharma, financial institution and engineering sectors led the benchmark index to cross 6,200 points.
The textile sector kept its dominance in the turnover board, grabbing 19 per cent of the week's total turnover.
It was followed by pharma with 12.2 percent and miscellaneous 12 percent.
The week's total turnover on the DSE also increased to Tk 64.10 billion against Tk 56.25 billion in the week before.
The daily turnover averaged out at Tk 16.02 billion, which was 14 percent higher than the previous week's average of Tk 14.06 billion.
Market capitalization of the prime bourse also rose to Tk 5,171 billion, up from Tk 5,142 billion in the week before.
Of the 376 issues traded, 230 advanced, 136 declined and 10 issues remained unchanged on the DSE trading floor during the week.
Beximco was the most traded stock with shares worth Tk 4.36 billion changing hands, making up nearly 7.0 per cent of the week's total turnover.
It was followed by LafargeHolcim, Keya Cosmetics, ML Dyeing and LankaBangla Finance.
On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw a rapid growth with its selective category index (CSCX) gaining 116 points in the last week to close at 10,811 points.
The All-Share Price Index (CASPI) of the CSE was higher by 207 points to close at 18,002 points.
Of the 337 issues traded, 213 advanced, 112 declined and 12 remained unchanged on the CSE floor.
The port city's bourse traded 11.91 crore shares and mutual fund units with turnover value of Tk 286 crore during the last week.