The Dhaka Stock Exchange has issued a warning to investors against conducting transactions with Moshihor Securities Limited after suspending the brokerage鈥檚 trading and Depository Participant (DP) activities.
In a statement, the DSE advised existing clients to transfer their shares to other trading companies.
Clients can move the shares held in their BO accounts to another TREC-holder company by completing the prescribed form for opening a linked BO account.
Investors owed funds or shares by Moshihor Securities must download and complete the complaint form from the DSE鈥檚 official website and submit it, along with relevant documents like portfolios and their signature, to the DSE by October 30.
The suspension follows reports that Moshihor Securities allegedly misappropriated Tk 161 crore from investors鈥擳k 68.58 crore from clients鈥� Consolidated Customer Accounts (CCA) and Tk 92.35 crore through share sales.
This is reportedly the largest fraud by a single brokerage in the countray鈥檚 capital market history.
Moshihor Securities was one of the country鈥檚 largest brokerage houses by client accounts, maintaining nearly 200,000 BO accounts, with about 44,000 active, according to the Central Depository Bangladesh Limited.
After a four-day holiday, both bourses of the country opened the week on a positive note Sunday, with major indices edging up though turnover declined compared to the previous session.
At the Dhaka Stock Exchange, the key index DSEX gained 31 points, while the Shariah-based DSES rose by 2 points and the blue-chip DS30 advanced by 10 points.
Out of 395 issues traded on the DSE, the prices of 183 advanced, 147 declined and 65 remained unchanged.
Among the three categories 鈥� A, B, and Z 鈥� most companies in the A and Z categories saw price gains, while B-category issues mostly declined.
Of the 80 companies traded in the B category, prices of 41 fell, 31 advanced, and 8 remained unchanged.
In the block market, shares worth Tk 14 crore changed hands across 26 companies, with Summit Alliance Port Limited leading the board by trading shares worth Tk 5 crore.
But, overall turnover on the DSE fell to Tk 619 crore, down from Tk 696 crore in the previous session.
EXIM Bank PLC topped the gainers鈥� list with a 10pc rise, while Trust Bank 1st Mutual Fund was the day鈥檚 worst performer, shedding over 6pc.
The Chittagong Stock Exchange also closed higher, with its overall index gaining 99 points.
Of the 194 issues traded on the port city bourse, prices of 105 advanced, 68 declined, and 21 remained unchanged.
Turnover, however, decreased on the CSE as well 鈥� down to Tk 10 crore from Tk 16 crore in the previous session.
On the CSE, Social Islami Bank PLC led the top gainers鈥� chart with a 10% rise, while Metro Spinning Limited dropped over 8%, ending as the day鈥檚 worst loser.
