The benchmark equities index closed higher for a second straight week to Thursday, hitting a 15-week high as investors showed their appetite for sector-specific stocks.
Insurers drove the growth in both the prime index and turnover value as enthusiastic investors pumped money into the stocks of both life and non-life insurers during the week.
This week, the Dhaka Stock Exchange (DSE) saw five trading sessions -- the first two sessions ended lower while the three others closed in the green in a row.
The benchmark DSEX index settled the week 0.28% or 17.77 points higher at 6,290 points, but the weekly turnover declined 7.02% to Tk3,680 crore, which indicates that the investors still remain cautious amid economic uncertainty.
However, the Shariah-based DSES index declined marginally while the blue-chip DS30 index advanced marginally.
The shares of insurance companies were bullish during the week and they dominated the chart of top 10 gainers.
Of the top 10 gainers, eight were from the insurance sector and they saw a price appreciation of 19.53% to 60%.
The eight companies are Trust Islami Life Insurance, Meghna Insurance Company, Paramount Insurance Company, Global Insurance Company, Rupali Life Insurance Company, Islami Insurance BD, Chartered Life Insurance Company and Continental Insurance.
Trust Islami Life Insurance topped the gainers' chart with an appreciation of 60% and the Meghan Insurance Company saw the second highest price appreciation of 43.81% in a week.
Insiders said a discussion regarding the introduction of mandatory motor insurance played a role behind investors' increased participation in insurers.
A market review of EBL Securities, however, said some of the non-life insurance companies have posted better earnings growth with decent cash dividends for the latest year as well as for the recently ended quarter.
Such financials enticed some investors to rotate their funds from the recently rallied stocks to the insurance sector and led the market to end in gaining territory this week, it added.
The two other companies, other than insurers, which were on the list of top 10 gainers, are Oimex Electrodes and Simtex Industries.
The other major sectors which saw price appreciation are textile, miscellaneous and engineering.
As the index puller, Emerald Oil Industries had the highest role behind the positive closure of the DSEX.
The sectors which experienced price fall are cement, IT, Jute, services & real estate, and travel & leisure.
Of the sectors, the jute saw the highest price correction of 6.1% followed by cement, services and real estate, and travel and leisure.
Bangladesh Shipping Corporation topped the weekly turnover chart with a value of Tk179 crore.
The Chittagong Stock Exchange (CSE) also closed in the green, with its broad index CASPI gaining 0.22% to 18,530 points.
Of 308 issues traded on the CSE, 88 advanced, 65 declined and 155 remained unchanged, with a turnover of Tk677.26 million.
