Last week, the country’s stock market went through an upward trend. Newly listed Sikdar Insurance Company Limited led the rise in prices throughout the week in this bullish market. The company’s share price touched the highest mark on each of the five trading days last week. As a result, the shares of this company occupied the top spot in the main stock market Dhaka Stock Exchange (DSE).
Not only last week, this insurance company has touched the maximum price increase every day since the start of trading in the stock market. According to stock market rules, the company’s share price can increase by a maximum of 10 percent in a day. After the start of trading in the stock market since January 24, huge purchase orders of the company’s shares have been received every working day at the highest price of the day. On the other hand, the sales order room remains empty every day.
The company’s share price increased by 209 percent in less than a month. In this, the price of each share of 10 taka rose to 30 taka 90 paise. In the initial public offering (IPO), ordinary investors received only 43 shares of the company.
The share price of Sikdar Insurance touched the maximum price increase on each day of the last five trading days last week as the company’s share price increased by 60.10 percent in one week. The number of rupees has increased by 9 taka 70 paisa. At the end of the last working day of the week, the share price of the company stood at 30 90 paise. It was 21 taka 20 paisa on the last working day of the previous week.
Bangladesh Securities and Exchange Commission (BSEC) approved Sikdar Insurance to raise Tk 16 crore through IPO for fixed deposit, investment in listed securities, floor purchase and IPO expenses. With the approval of the regulatory body, the company issued 1 crore 6 million shares at the price of 10 taka and withdrew 16 crore from the stock market.
Meanwhile, despite the increase in the share price, most of the investors did not want to sell the shares of the company. As a result, the company’s shares were traded for only Tk 3 lakh 20 thousand during the week. An average of 60,000 taka has been transacted per working day.
Bangladesh Finance was on the second place in the top list of price increase last week. The share price of this company increased by 36.36 percent during the last week. Next is Noorani Dying. During the week, the company’s share price increased by 36 percent.
Besides, the share price of Shinepukur Ceramics, which is in the list of top 10 companies with price increase, has increased by 35.14 percent. Besides, the price of Central Pharmaceuticals increased by 31.56 percent, AB Bank by 30.77 percent, Advent Pharma by 29.60 percent, Family Tex by 27.78 percent, Mithun Knitting by 26.39 percent and Bangladesh Industrial Finance Company (BIFC) by 26.03 percent. .
MAS/KSR/MS
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