Dhaka, Bangladesh (BBN) – The Securities and Exchange Commission (SEC) has formed a four-member committee to probe the sudden unprecedented fall of share prices on the Dhaka Stock Exchange.
The committee, headed by SEC Executive Director Farhad Ahmed, is scheduled to submit its report on January 10 to the commission’s chairman, SEC officials said.
The other members of the committee are SEC Executive Director ATM Tariquzzaman, Director Mahbub Alam and Assistant Director Tania Sharmin.
DSE’s benchmark DGEN index sank more 6.37 percent of 547 points in the first 80 minutes of trading on Wednesday in a day of extreme volatility that saw market regain most of the losses in late hours to close at minus 1.56 percent.
The fall – the steepest in the DSE’s history – sparked wildcat street protests in Dhaka and half a dozen district towns by thousands of retail investors who sniffed conspiracy by a “vested group” in the sudden crash.
The market returned to black on Thursday with the DGEN gaining 128 points or 1.52 per cent to 8,580.20.
BBN/SI/AD-10Dec10-2:07 am (BST)
