Bangladesh Securities and Exchange Commission has formed a two-member panel to investigate an unusual price hike in BSRM's shares.

The regulator made the move after prices of BSRM's shares almost doubled last month.

The stockmarket watchdog asked the panel, comprising BSEC's Deputy Director Mohammad Al Masum Mirdha and Assistant Director Sultan Salah Uddin, to file the probe report with the commission in 20 workdays.

The price of each BSRM share was Tk 113.8 on the Dhaka Stock Exchange on February 7, but it rose to Tk 204.3 at the end of yesterday's trade, showing an 80 percent hike.

But in response to a DSE query, BSRM replied that there was no undisclosed price sensitive information of the company that could cause the unusual price hike.

The Chittagong-based steel manufacturing conglomerate was listed on the stockmarket in 2015.

Meanwhile, the stockmarket extended its losing streak for the sixth consecutive session yesterday.

DSEX, the benchmark index of the premier bourse, declined 21.86 points or 0.48 percent, finishing the day at 4,462.17 points.

Turnover, another important indicator of the market, however jumped up 31.3 percent to Tk 578.43 crore, with 15.2 crore shares and mutual fund units changing hands on the DSE.

Of traded issues, 104 advanced and 163 declined with 44 securities closing unchanged on the premier bourse.

Orion Pharma dominated the turnover chart with 69.51 lakh shares worth Tk 29.8 crore changing hands, followed by LankaBangla Finance, Singer Bangladesh, Grameenphone and Summit Power.

Bangladesh Finance and Investment Company was the day's best performer with a 9.58 percent gain, while Singer Bangladesh was the worst loser, shedding 19.94 percent.

Chittagong stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 43.22 points or 0.51 percent to finish the day at 8,369.04 points.

Losers beat gainers as 136 declined and 68 advanced, while 30 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 1.19 crore shares and mutual fund units worthTk 35.7 crore in turnover.