Drastic Fall In DSE Index
Small investors want BSEC chairman to resign
Small investors in protest against continued fall of the index in the Dhaka Stock Exchange (DSE) demanded resignation of the chairman of Bangladesh Securities Exchange Commission (BSEC) M Khairul Hossain on Monday in street agitation in front of the bourse.
They blamed the BSEC chairman who is running the organization for the third term since 2008 with two extensions so far with fresh renewal last year, has failed to protect the market and the vital interest of small investors and must go.
Many wonder how the chairman has got the repeated renewal in the post despite his continued failure to run the organization. The new debacle in the stock market has come as big embarrassment to the government but he continues in his post mindless to chase the manipulators.
Many believe vested interest quarters are having hands in the repeated renewal of his service at the regulatory agency.
On Monday the DSE index fell over 88 points to 5091.48 points. Small traders took to the streets in front of DSE and shouted the resignation of the BSEC chairman blaming him for failing to protect small investors while he is protecting interest of big players.
The sharp fall in the index drastically declining over the past weeks came as a big shock to small investors at a time when the market was supposed to revamp after the budget was announced with several incentives for the market. In fact people have lost confidence in the market and unless BSEC and such other watchdog agencies are not clear there is hardly any hope for revival of the market, said observers watching the development.
The market is behaving contrary to the expectations of the government, traders and investors in the bourse.
A small investor said he has lost everything while big people are looting their money. He said the BSEC chairman is not controlling the market manipulation by big people from behind the scene.