In Tuesday’s trading session, the stock market experienced a surge driven by investors chasing after low-performing “junk” stocks, fueled by rumors of quick gains. However, concerns arose as these stocks are believed to be manipulated. Problem-hit Union Capital, which has been incurring losses since 2019 and failing to pay back depositors, surprisingly occupied the top gaining spot with a 10% surge. Fu-Wang Food and Olympic Accessories also saw significant gains despite their lack of dividends and consecutive losses. Notably, investors’ focus on low-performing companies has had minimal impact on the market index, with benchmark indices rising slightly. Though trading volume dropped by 12%, certain actively traded stocks like Fu-Wang Food and Khan Brother PP Woven Bag Industries saw substantial turnover. However, the overall market index had a minimal impact, with the benchmark index (DSEX) and blue-chip index (DS30 Index) recording modest gains. Market participation decreased, and the total turnover amounted to Tk 6 billion.
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