Investors need a reality check before joining SME stocks' rally
Dhaka, March 18 -- The SME market index soared 259 points, or 20 per cent, in the month to Thursday amid an influx of investors at a time when the main market has been enduring price erosion.
During the time, the prime index eroded 426 points, plummeting to three-year low to 5,968 on Thursday against the backdrop of dwindling investor confidence. Investors have been shaky especially since the removal of the floor price from large-cap stocks amid rising interest rates.
Meanwhile, due to the price surge of SME stocks, the market value jumped 25 per cent in the month to Tk 29.39 billion while the market cap of the main board of the Dhaka Stock Exchange (DSE) shed Tk 723 billion during the time.
Except for MK Footwear, Wonderland Toys, and...
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