The premier bourse did not find any irregularities in a price hike in Fine Foods shares. The stockmarket regulator will now investigate the issue.
The Securities and Exchange Commission (SEC) formed a two-member committee to probe the unusual rise in the prices of Fine Foods, an official said yesterday.
The market watchdog also asked the probe body, led by SEC Director Mir Mosharraf Hossain, to submit the investigation report to the commission by October 31. Mohammed Fakhrul Islam Mazumder, deputy director of SEC, is also on the committee.
An SEC official said the Dhaka Stock Exchange (DSE) investigated the Fine Foods issue to see if rules were violated, and found no major irregularities.
The commission realised that it should investigate the matter by itself to see whether any rules were violated, the official said.
Last month, the DSE investigated Fine Foods' price spike following instructions from the market regulator.
The company's shares rose on the trading floor yesterday too. Each Fine Foods share traded between Tk 102.60 and Tk 115, before closing at Tk 110.30 on the DSE.
Fine Foods was listed on the DSE in 2004 under the foods and allied segment.
Dhaka stocks however closed nearly flat on choppy trading. The benchmark index, DSE General Index, rose just 4 points, or 0.06 percent, to stand at 6,797.
Losers beat advancers 146 to 99, with six securities unchanged. The prime bourse traded more than 7.33 crore shares and mutual fund units with a total value of Tk 1,340 crore.
Prime Finance was yesterday's leader with 31.28 lakh shares being traded worth Tk 122.91 crore.
Chittagong stocks also closed flat, with the CSE Selective Categories Index declining by only 2 points, or 0.01 percent, to 12,902.
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