Kazi Md. Nazrul, President of the Bangladesh Capital Market Investors United Council (BCIA), has alleged that a vested group is artificially instigating panic in the stock market to scoop up shares from small investors at dirt-cheap prices.
He made the comments during a human chain protest organized by the council in front of the Dhaka Stock Exchange (DSE) building in Motijheel, Dhaka, against the continuous slide in share prices.
“The regulatory body is responsible for supervising the capital market and protecting investors’ interests,” Nazrul said. “However, the current manner of market surveillance is generating widespread panic among retail investors. Capitalizing on this fear, certain groups are grabbing shares from small investors.”
Nazrul noted that BCIA leaders had previously met with the Chairman of the Bangladesh Securities and Exchange Commission (BSEC) to demand strengthened market monitoring. The objective, he emphasized, was to prevent any faction from terrifying retail investors into selling off their holdings at heavily discounted rates.
Describing the current market situation as “extremely alarming,” the BCIA president pointed out that daily turnover has plummeted drastically from its past levels of BDT 1,500 crore to BDT 2,000 crore. “While standard market corrections are expected, the steep downward trend currently being observed is far from normal,” he said.
Urging immediate government intervention to protect investor interests, Nazrul highlighted the lingering impacts of past downturns. He stated that small investors have suffered repeated financial blows since the 2010 market crash, leaving many completely destitute and deeply frustrated. He called on the government to act decisively now to prevent a historical repeat.
Nazrul further stressed that if the stock market is to serve as a foundational pillar of Bangladesh’s national economy, high-level government oversight and effective measures are imperative. To restore investor confidence, the regulator must enforce firm, proactive surveillance.
Addressing regulatory coordination, he added that any policy decisions by Bangladesh Bank or other institutions impacting the capital market must be made in consultation with the BSEC. He advocated for reinforcing BSEC’s leadership and decision-making authority on all stock-market-related matters.
Highlighting the sharp contraction in market participation, Nazrul expressed concern that the active investor base—which once stood at nearly 3.3 million (33 lakh)—may have now shrunk to around 1.5 million (15 lakh).
During the demonstration, participating retail investors demanded an immediate end to abnormal price drops, a stop to market manipulation designed to force panic selling, and concrete protections for small shareholders.
BCIA leaders concluded by stating that the government must establish a stable environment so retail investors are not repeatedly forced onto the streets to demand their rights. They announced that further action programs will be detailed after reviewing the unfolding situation.
