Stocks gained for a fourth week with high turnover due to active participation of small and institutional investors and the possibility of an increased inflow of money into the market.
The benchmark general index, DGEN, gained 4.22 percent or 266 points, to end the week at 6,578. The yardstick of DSE gained 13.89 percent or 802 points in the last four weeks.
Average daily turnover was Tk 1,562 crore last week, which is 44.5 percent higher than in the previous week. Turnover on Thursday rose to Tk 1,683 crore, the highest since December 30 last year.
The market opened with a sharp gain of 1.99 percent and the gaining streak continued through the last four sessions.
The liquidity flow in the stockmarket has improved in the last four weeks as the government approved investments of undisclosed money in the stockmarket earlier this month, BRAC EPL said in a market analysis.
The commission should work for increasing the flow of stocks into the market to reduce the gap between demand and supply, a market analyst said.
Meanwhile, Finance Minister AMA Muhith said on Thursday that the surge in prices of shares was not welcome and was not a good sign for the capital market.
All major sectors advanced this week: banks 4.8 percent, non-bank financial institutions 4.8 percent, telecoms 7.27 percent, pharmaceuticals 4.5 percent and power 3.3 percent.
Mutual funds rose 7.34 percent, general insurance 8.03 percent, cement 8.6 percent, while life insurance lost 0.9 percent and food and allied 1.8 percent. Mutual funds gained significantly based on expectation of good dividend declaration.
Telecommunication sector advanced this week following the news that the licence renewal fee of the companies will be slashed down.
However, the food and allied sector was down as the blue-chip stock of the sector, BATBC, retraced following the publication of its half-yearly profit, said BRAC EPL.
Bextex topped the turnover leaders with 68.44 lakh shares worth Tk 266 crore changing hands.
Federal Insurance was the biggest gainer of the day, posting 24.59 percent rise, while the Sandhani Life Insurance was the worst loser, slumping by 32.45 percent.
-With The Daily Star input