Legacy Footwear, three brokers fined for breaching rules

Bangladesh Securities and Exchange Commission yesterday fined Legacy Footwear Ltd Tk 5 lakh on charges of breaching trading regulations.
The regulator also slapped a fine of Tk 1 lakh each on three stockbrokers -- AB Securities Ltd, PHP Stocks and Securities Ltd and GMF Securities Ltd -- for taking part in suspicious trading.
GMF was fined for unusual trading in shares of Paramount Insurance Company Ltd and Global Insurance Ltd, BSEC said in a statement on its website.
But the stockmarket regulator would not give further details on AB Securities and PHP Stocks.
Dhaka stocks gained for the second day, as investors went on a buying spree in anticipation of a bull-run in the market.
DSEX, the benchmark general index of the Dhaka bourse, finished the day at 4,163.82 points, after surging 27.51 points or 0.67 percent.
“Monetary policy statement for the second half of the ongoing fiscal year created new hope in the market contributing a positive session today [yesterday], in terms of both price and volume, to give February a gentle start-up,” said IDLC Investments it its market analysis.
Turnover at the premier bourse crossed Tk 300 crore for the second time this year, indicating a pause in the crisis for the time being, the investment banker said.
Turnover at the DSE floor advanced 7.19 percent to Tk 319 crore, which is the highest in the last two and a half month, compared to the previous day.
During the day's movement, 19 out of 22 non-bank financial scrips, 30 out of 34 non- life scrips and all energy sector scrips gained.
A total of 0.91 lakh trades were executed with 8.74 crore shares and mutual fund units changing hands on the Dhaka bourse.
All the major sectors gained. Non-bank financial institutions rose 1.83 percent, followed by power 0.97 percent and telecom 0.70 percent. Of the 271 issues that traded on the DSE floor, 194 advanced, 53 declined and 24 remained unchanged.
Sunlife Insurance Company appeared on the most traded stocks list with 20.88 lakh shares worth Tk 16.92 crore changing hands.
United Airways and Unique Hotel and Resorts were the next popular stocks of the day.
Paramount Insurance Company was the biggest gainer of the day, as it accelerated 8.92 percent gain, while Kohinoor Chemicals was the worst loser, plunging by 8.33 percent.