Stocks
Hosaf Group to sell 37pc of its holding in Pragati Life
Mabroor Hossain, a director of the Hosaf Group and a sponsor-director at Pragati Life Insurance Ltd, has announced he will sell 37pc of all his shares in the life insurance company.
According to the Dhaka Stock Exchange (DSE), he will sell 3.72 lakh shares from his holding of 9.97 lakh shares.
He is also the managing director of Hosaf Proficient Energy Limited, a concern of the Hosaf Group.
Other sponsor-directors of Pragati Life Insurance will buy these shares on the block market of the bourses within the next 30 days at the prevailing market price, says a disclosure filed on the stock exchanges on Sunday by the company.
Sponsor-Directors ASM Mohiuddin Monem, Tabith M Awal, Md Shafiur Rahman, and Salim Rahman have declared they will buy 50,000, 744,000, 50,000, and 197,600 shares of Pragati Life respectively.
Pragati Life Insurance started its business in 2000 and was listed on the stock market in 2006. The company is sponsored by some renowned business entrepreneurs associated with different industrial groups.
Pragati has a reinsurance agreement with the world’s largest reinsurer, Munich Reinsurance Company, of Germany.
It is also the first insurance company in Bangladesh providing status of policies with Push-Pull (SMS) service for its policyholders.
In the Outgoing week, the European stock market displayed a varied performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a slight drop of 5.96 points to close at 499.29.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 100 points or finishing the session at 7,895.
In Germany, the DAX 30 index, shed by 438 points to reach 17,737, while France’s CAC 40 increased by 12 points to stop at 8,022 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, increased by 158 points to 33,922. However, Spain’s IBEX 35, added by 43 points, to close at 10,729.
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has lost 1,156 points during the week. At the end of the week, the index stood at 73,088 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange dropped by 372 points last week. At the end of the week, the index stood at 22,147 points.
Pakistan Stock Exchange Index ‘KSE 100’, gained 592 points last week. After a week of gaining, the index settled at 70,944 points.
On the other hand, The Sri Lankan stock market index hiked, and the Colombo Stock Exchange index ‘ASPI’ decreased by 280 points in a week. After a week the index settled at 11,753 points.
Bhutan’s stock market index ‘BSI’ added 13 points hence the index stood at 1,526 points throughout the whole week. Nepal’s ‘NEPSE’ lost 52 points, therefore the index stands at 1,972 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ lost by 177 points or 3.03 percent, in the outgoing week. At the end of the week, the index stands at 5,686 points.
Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a massive drop in Indices & Turnover on the other hand Market Capitlization hikes throughout the whole week. This information was disclosed in the weekly market review from the DSE.
According to sources, (4 working days) the turnover of DSE lost by Tk 261 crore 38 lakh (April 15 – April 18). At the same time, the market capitalization has increased by 21 thousand 590 crore taka.
The benchmark index ‘DSEX’ lost by 177 points or 3.03 percent, in the outgoing week. At the end of the week, the index stands at 5,686 points. The Shariah-based index ‘DSES’ added 35.74 points or 2.79 percent and therefore the index stands at 1,246 points. The blue-chip index ‘DS30’ increased by 47.81 points or 2.35 percent, hence the index stands at 1,984 points.
Shares and units worth 1 thousand 912 crore 81 lakh taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 7 lakh 63 thousand 251 crore 62 lakh taka.
Shares and units of 411 companies were traded on Bourse during the week. Of these, 21 shares were unchanged, 285 companies declined, and 89 companies advanced.
Asiatic Laboraitories Limited has ranked at the top of weekly trading on DSE. The Company records an average turnover of 23 crore 46 lakh taka.
Asiatic Laboratories Limited ranked at the top of weekly gainers on DSE. The share has risen 18.14 percent to its highest price.
National Bank Limited has ranked at the top of weekly losers on DSE. The share has dropped 14.29 percent lowest in the last week.
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