Express Ins in top of falling stock prices

Muhammad Ayub Ali :

The shares price of company Express Insurance has topped the list of falling prices on the main stock market Dhaka Stock Exchange (DSE).
The company’s shares have topped the falling list on the DSE yesterday with a fall of Tk 3. 40.
Around 5 lakh 93, 601 shares of Express Insurance were traded yesterday. The share was traded at its highest price at Tk 56.40 and its lowest price was Tk 51.70 while the closing price was Tk 56.50 on Sunday but yesterday closing price is Tk 53.10.
Market analysis shows that the closing price of the share on January 14 was Tk 62.90 while the share was traded up to Tk 63.70.
Once, the shares of insurance companies were at the top choice of the investor’s interest in the country’s stock market. At that time, the shares of insurance companies dominated the price index of the stock market.
But now there is no more that craze for insurance companies. There has also been a big decline in the interest of investors. That is why now the shares of insurance companies do not rank much in the price increase or trading list.
The shares of insurance companies are somehow in the back row of the stock market.
However, occasionally the shares of insurance companies appear strongly in the falling list.
Although there was a big fall in the share price yesterday, a big momentum was observed in the trading. Such trading has not been seen in the last three months of the company.
Market experts say that a big investor may have put big selling pressure on the share yesterday resulting share price has seen a big fall.
Ehsanul haque, insurance expert said to the New Nation that due to the irregularities and corruption investors are not interested to invest their money into insurance sector.
However, insurance sector is more significant for the economy stability like bank sectors, its dire need to reform as well as bank sector, he added.
Though the share belongs to the ‘B’ category, it is one of the few stable shares in the insurance sector.
In the last year, Express Insurance paid a 7 percent cash dividend to shareholders. In the first three quarters or 9 months (January-September) of the 2024 fiscal year, the company earned Tk1.11 per share which was Tk 1.18 in the same period of the last year.
The company has a total number of shares of 6 crore 51 lakh 97,464. Of this, 60 percent is held by entrepreneur directors, 7.42 percent by institutional investors, and 43.58 percent by general investors.