Dhaka stocks return to black after BSEC gets new chairman

Dhaka stocks returned from losses in the morning trade today amid a buying spree thanks to the end of a stalemate over the appointment of the chairman of the capital market regulator.

The interim government yesterday appointed Khondoker Rashed Maqsood as the chairman of the Bangladesh Securities and Exchange Commission (BSEC), a day after M Masrur Reaz, an economist, declined to join the BSEC as its chief.

On August 13, the government had appointed Reaz as BSEC chairman.

Since morning, the benchmark index of the Dhaka Stock Exchange, DSEX, gained 33.87 points or 0.58 percent to 5,812.51 at 11.20 am.

The DSES index, representing Shariah-based companies, advanced 11.30 points or 0.91 percent to 1,251.48.

The DS30 or blue-chip index rose too along with turnover.

As of 11.20 am, stocks of Tk 378.46 crore were traded with 197 issues gaining.

Some 148 fell and 35 remained unchanged.