Dhaka stocks extended gains for a ninth consecutive session on Thursday, with turnover crossing Tk1,350 crore for the first time in nearly nine months as investors welcomed a sweeping overhaul of the securities regulator’s leadership.
The benchmark DSEX index rose 0.61 per cent, or 33.3 points, to 5,475, its highest level since 2 March. Turnover on the Dhaka Stock Exchange (DSE) climbed 5.7 per cent to Tk1,351 crore, the highest since Tk1,400 crore was traded on 8 September last year.
The rally gathered pace after the government reshaped the top tier of the Bangladesh Securities and Exchange Commission (BSEC), a move investors viewed as a signal of broader capital-market reforms.
In the morning, BSEC Chairman Khondoker Rashed Maqsood and the commission’s four commissioners resigned following Finance Minister Amir Khosru Mahmud Chowdhury’s recent announcement that the regulator’s leadership would be replaced.
Later in the day, the Financial Institutions Division appointed professional accountant and corporate executive Masud Khan as BSEC chairman. DSE Brokers Association Vice President Md Nafeez-Al-Tarik, Asha International Finance Director Tanvir Habib Rahman and lawyer Nahid Mahtab were appointed commissioners.
Market participants said the previous commission, appointed in 2024, pursued reforms aimed at improving market integrity and governance. However, some investors viewed its enforcement measures as regulatory crackdowns, while several policy initiatives were criticised as overly conservative.
The new appointments boosted confidence as the elected government has pledged to rebuild investor trust, strengthen market institutions and pursue a more market-friendly regulatory framework.
After opening weaker on profit-taking following eight straight sessions of gains, the market turned positive during the day as reports of the new appointments spread, helping shares close broadly higher.
Engineering stocks accounted for 13.8 per cent of turnover, followed by pharmaceuticals at 12.8 per cent and general insurance at 11.9 per cent.
Most sectors advanced, led by general insurance and services, both up 3.9 per cent, and paper, which gained 2.6 per cent. Financial institutions were the only major sector to decline, falling 0.7 per cent.
Of the 396 issues traded on the DSE, 237 advanced, 101 declined and 58 remained unchanged.
The rally also extended to the Chittagong Stock Exchange, where the Selective Categories Index rose 49.3 points and the All Share Price Index gained 82.3 points.
The new chairman, the three commissioners and Prime Minister’s Special Assistant for Investment and Capital Market Affairs Tanvir Ghani spoke at a press meet in the BSEC building in the afternoon and they outlined the roadmap to build a robust capital market addressing the prevailing challenges.
