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Stocks take a dive | The Daily Star
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Stocks plunge for profit booking | The Daily Star
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Stocks continue to fall | The Daily Star
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Bourses see extensive profit booking
Bourses witnessed widespread profit-booking last week when the insurance stocks rose the most thanks to a regulatory move on minimum shareholding compliance.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 73.14 points, or 1.24 per cent, during the week.
Meanwhile, insurance stocks went upward riding on news that the regulator issued letters to all the companies to maintain a paid-up capital of Tk 30-40 crore.
Almost all the top gainers were from the insurance sector. For instance, Agrani Insurance rose 21.9 per cent in the week followed by Provati Insurance and Islami Insurance.
The Insurance Development and Regulatory Authority asked all insurance companies to comply with the minimum shareholding rule of 60 per cent by the sponsors in their respective companies and maintain a minimum paid-up capital of Tk 30-40 crore in a month.
DSE turnover plunges from record high Star Business Report Star Business Report
Turnover at the Dhaka Stock Exchange plunged by 38 per cent or Tk 969 crore to Tk 1,577 crore yesterday thanks to the wait-and-see approach adopted by institutional investors, according to market players.
The development comes just a day after turnover registered a decade high at Tk 2,546 crore.
However, DSEX, the benchmark index of the Dhaka bourse, rose 30 points, or 0.54 per cent, to 5,640 at the same time.
Some of the institutional investors have taken profits considering some corrections but the others are waiting for a further rise, according to a merchant banker.