Insurance sector shines amid correction of indices
The top ten gainers’ list was all composed of insurance stocks
Indices dipped marginally on Monday amid a sell-off due to profit booking after a seven-day rally, but the general insurance sector shone by posting the highest 7.7% gain among all the sectors.
Out of the total 53 insurance companies, 46 posted gains on the day. Also, the sector was the highest 13.6% contributor to the daily turnover followed by banks and financial institutions.
Moreover, the top ten gainers' list was all composed of insurance stocks and their shares were traded at the 10% upper circuit limit.
According to market analysts, investors were most interested in insurance stocks because they found their stock prices to be low.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), lost 8 points to settle at 6,489.
Turnover at the DSE advanced by 2.5% on Monday and stood at Tk974 crore.
Out of the 379 issues traded, 130 advanced, 209 declined, and 40 remained unchanged.
The Chittagong Stock Exchange also settled in the red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 11.4 and 19.5 points respectively.
