April 14, 2021

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Instability in insurance shares, suspicion of manipulation

Instability in insurance shares, suspicion of manipulation
Unusual rise of insurance shares has started again in the stock market. This trend has been seen for a few days. Stockbrokers are calling it the ‘second rally’ of insurance stocks. And that has caused panic in the minds of many, starting from investors to market people.

Speaking to market participants, it is learned that the first rally on insurance shares took place in August-November last year. At that time, the price of some shares in this sector increased up to 4-5 times. Later that price started to decrease. That is why ordinary investors suffer the most losses by buying shares at higher prices. Last year, there was an unusual rise in the price of insurance shares through an organized cycle of manipulation. The names of the perpetrators also came out in various investigations. But no action was taken against them. Now it is believed that the old manipulators have again resorted to manipulation with insurance shares.

All the top 10 companies on the Dhaka Stock Exchange (DSE) yesterday were in the insurance sector. Each of these shares has risen by about 10 percent. Of the 48 insurance companies traded in the Dhaka market yesterday, 44 were up in price, including the top 10 companies. And the price of one decreased, the price of one remained unchanged.

 

The resurgence of share prices in the insurance sector has once again created panic among ordinary investors. Multiple investors, speaking on condition of anonymity, told Prothom Alo yesterday that the share price of the insurance sector had been raised even before the eyes of the regulator. Later it decreases. At that time some of the traders may not have been able to sell all the shares in their hands. So for the second time, they are trying to sell the remaining shares by raising the price and enticing the general investors. Apart from this, ordinary investors are not finding any reason for the abnormal rise in the share price of insurance companies.

Asia Pacific Insurance, Prabhati Insurance and Bangladesh National Insurance have been on the list of unusual share price increases in the insurance sector in recent times. Of these, Asia Pacific prices have risen by more than Tk 12 in just 12 working days. The prices of Prabhati Insurance and Bangladesh National Insurance have gone up by 34 per cent and 36 per cent respectively in one month.

Meanwhile, the stock market rose sharply on Tuesday, the second day of restrictions imposed since Monday to prevent the spread of corona. The DSE’s main index, the DSEX, rose 104 points, or 2 percent. On the other hand, the overall index of the Chittagong Stock Exchange (CSE) has risen by 196 points or about 2 percent. After the imposition of restrictions from Monday, the transaction time of the bank has been reduced and the transaction in the stock market has also been reduced by two hours. Even then, the turnover in the Dhaka market stood at Tk 508 crore yesterday, which is Tk 271 crore more than the previous day. The other stock market in Chittagong had a turnover of around Tk 151 crore yesterday, which is Tk 135 crore more than the previous day.

Instability in insurance shares, suspicion of manipulation
Unusual rise of insurance shares has started again in the stock market. This trend has been seen for a few days. Stockbrokers are calling it the ‘second rally’ of insurance stocks. And that has caused panic in the minds of many, starting from investors to market people.

Speaking to market participants, it is learned that the first rally on insurance shares took place in August-November last year. At that time, the price of some shares in this sector increased up to 4-5 times. Later that price started to decrease. That is why ordinary investors suffer the most losses by buying shares at higher prices. Last year, there was an unusual rise in the price of insurance shares through an organized cycle of manipulation. The names of the perpetrators also came out in various investigations. But no action was taken against them. Now it is believed that the old manipulators have again resorted to manipulation with insurance shares.

All the top 10 companies on the Dhaka Stock Exchange (DSE) yesterday were in the insurance sector. Each of these shares has risen by about 10 percent. Of the 48 insurance companies traded in the Dhaka market yesterday, 44 were up in price, including the top 10 companies. And the price of one decreased, the price of one remained unchanged.

 

The resurgence of share prices in the insurance sector has once again created panic among ordinary investors. Multiple investors, speaking on condition of anonymity, told Prothom Alo yesterday that the share price of the insurance sector had been raised even before the eyes of the regulator. Later it decreases. At that time some of the traders may not have been able to sell all the shares in their hands. So for the second time, they are trying to sell the remaining shares by raising the price and enticing the general investors. Apart from this, ordinary investors are not finding any reason for the abnormal rise in the share price of insurance companies.

Asia Pacific Insurance, Prabhati Insurance and Bangladesh National Insurance have been on the list of unusual share price increases in the insurance sector in recent times. Of these, Asia Pacific prices have risen by more than Tk 12 in just 12 working days. The prices of Prabhati Insurance and Bangladesh National Insurance have gone up by 34 per cent and 36 per cent respectively in one month.

Meanwhile, the stock market rose sharply on Tuesday, the second day of restrictions imposed since Monday to prevent the spread of corona. The DSE’s main index, the DSEX, rose 104 points, or 2 percent. On the other hand, the overall index of the Chittagong Stock Exchange (CSE) has risen by 196 points or about 2 percent. After the imposition of restrictions from Monday, the transaction time of the bank has been reduced and the transaction in the stock market has also been reduced by two hours. Even then, the turnover in the Dhaka market stood at Tk 508 crore yesterday, which is Tk 271 crore more than the previous day. The other stock market in Chittagong had a turnover of around Tk 151 crore yesterday, which is Tk 135 crore more than the previous day.

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