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Surging Investor Interest in Insurance Stocks Defies Expectations

Industry: Financial, Insurance, Stock Market

Insurers, particularly non-life insurance companies, have witnessed a significant surge in stock prices on the Dhaka Stock Exchange over the past 15 trading sessions. The rally was fueled by rumors of mandatory motor vehicle insurance, leading investors to place bets on insurance companies in anticipation of favorable returns.

During this period, the share prices of 10 companies soared between 20% and 44%, while 18 others experienced price hikes ranging from 10% to 19%. The insurance sector played a vital role in boosting market turnover and driving up the broad index of the exchange. However, the sudden increase in stock prices lacks support from the companies earnings. Despite some insurers reporting a decline in income for the latest quarter, their stock prices witnessed significant jumps. Experts suggest that these price surges may be attributed to speculative behavior and sector reshuffling, as investor interest shifted towards insurers.

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