Dhaka, Bangladesh (BBN)-Bangladesh’s stocks closed higher for the third consecutive week that ended on Thursday with significant improvement in turnover, spurred by investors’ buying spree on large cap stocks.

The week featured all five trading sessions as usual.

Among them, the market closed first session in the red while last four sessions closed positive.

Week-on-week, DSEX, the benchmark index of DSE went up by 59.04 points or 1.33 percent to close at 24-session high level of 4,486.20 points.

The other two indices also closed higher.

The DS30, comprising blue chips, went up by 26.19 points or 1.61 percent to close at 1,652.71 points.

The DSE Shariah Index advanced 21.62 points or 2.15 percent to close at 1,026.28 points.

The port city bourse also ended higher with its Selective Categories Index – CSCX – went up by 11.28 points or 1.32 percent to close at 8,492.42 points last week.

The turnover value improved to BDT 27.20 billion against BDT 16.06 billion in the previous week.

The daily turnover for the week averaged BDT 5.44 billion, which was 69.34 percent higher against the previous week’s average of BDT 3.21 billion.

“Investors’ confidence seems to get back to positive node as the economy is showing signs of recovery after prolonged period of political turmoil,” LankaBangla Securities.

Data of historical high monthly remittance inflow of BDT 1.48 billion in July also boosted sentiment, said the stock broker.

IDLC Investments, a merchant bank said: “Lucrative prices coupled with better earnings and search for investment worthy spread in market dynamics spurred the investors most”.

Out of 306 issues traded during the week 179 advanced, 113 declined and 14 remained unchanged on DSE floor.

One listed company and eight mutual funds made corporate declaration last week. Delta Spinners declared 10 per cent cash dividend.

GP dominated the week’s top turnover chart, with shares worth BDT 1.73 billion changing hands followed by Beximco, MJL BD, ACI and Lafarge Surma Cement.

Shahjibazar Power Company was the week’s top gainer, posting a rise of 38.16 percent despite the securities regulator formed a probe body to investigate its unusual price hike while Midas Financing was the week’s worst loser, plunging by 24.06 percent.

BBN/BB/AD-08Aug14-1:00pm (BST)