Insurance cos grab top 10 gainers' chart

The insurance companies continued to dominate the gainers' chart on Sunday on DSE as all the top ten gainers were insurance companies.

Share prices of 40 insurance companies surged, out of 48, while two companies' prices remained unchanged.

Global Insurance was the best performer, posting a gain of 10 per cent while Intech Ltd was the worst loser, losing 9.79 per cent.

Market insiders said the decision of Bangladesh Securities and Exchange Commission (BSEC) to remove 17 directors who still do not hold at least 2 per cent shares of their listed companies although the regulator made it mandatory nine years ago, has attracted investors to buy shares of different sectors including the insurance.

A total of 17 directors from 10 listed companies, namely Bangladesh General Insurance, Eastern Insurance, Fuwang Ceramic, Imam Button, Intech, Meghna Life, Mercantile Insurance, Provati Insurance, Purabi General Insurance and United Airways may be removed for non-compliance.

[email protected]