Written by The Banking Post
Shares of Progressive Life Insurance Ltd have surged sharply in recent weeks, with the stock price rising from Tk 46.60 on August 17 to Tk 63.70 by midday Sunday, marking an increase of more than 34%. Despite this, the company has stated it has no undisclosed price-sensitive information (PSI) that could explain the unusual rise.
The Dhaka Stock Exchange (DSE) had sent a query to the company on August 28 seeking an explanation for the abnormal price and trading activity. In its response, Progressive Life confirmed it holds no PSI that could justify the surge.
Market observers note that the trading momentum has persisted even after DSE posted a cautionary notice on its website. Out of 391 listed securities from the company, the share price has continued to attract strong investor interest, suggesting speculative enthusiasm in the market.
Trading volume also reflects the heightened activity. The highest volume in recent days was recorded on Wednesday, when 222,529 shares changed hands—the largest single-day turnover for the company in this period.
DSE analysts highlighted that such price spikes, especially without underlying company developments, warrant caution among investors, as they may indicate speculative trading rather than fundamental value appreciation.
