Dhaka stocks continued to gain with minor price corrections last week, led by market heavyweight Titas Gas, in a bullish second week after a long slump.
The shares of the state-run gas distribution and transmission company gained more than 21 percent throughout the week.
Titas rallied on expectations that the company would declare healthy dividends in the upcoming corporate disclosure, market insiders said.
They, however, said investors' rally only for big scrips was not a good sign for the market.
The benchmark of the Dhaka Stock Exchange, DSE General Index, rose 37.51 points, or 1.36 percent, week-on-week to 2802.97 points, while the DSE All Share Price Index increased 28.64 points, or 1.21 percent, to 2397.75 points on Thursday, the last trading day of the week.
Without Titas Gas rising, the market would not close higher, said a market analyst.
Last week, total turnover on the premier bourse increased to Tk 1,380.28 crore, 29.39 percent, up from the previous week's Tk 1,066.73 crore. Daily average turnover was Tk 276.05 crore against Tk 266.68 crore of the week-earlier-period, which was a 3.51 percent rise.
Total share transactions rose 33.12 percent to 8,18,58,090 shares last week against 6,14,91,274 shares the week before.
Most securities, however, traded down throughout the week. Of the 288 traded issues on the DSE, 117 scrips advanced, 129 declined and five ended unchanged.
Total market capitalisation increased 2.6 percent to Tk 98,846.71 crore last week over the previous week's Tk 96,343.05 crore.
Titas Gas topped turnover leaders for a fifth week. A total of 45,44,950 shares of Titas worth Tk 1,90.75 crore traded on the DSE.
The other turnover leaders for the week were ACI Limited, Beximco, Grameen 2, Beximco Pharma, Lanka Bangla Finance, Islami Bank, ICB 2nd NRB Mutual Fund, Square Pharma and BATBC.