Stocks hit two-month low | The star of the day

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Shares in Dhaka bled massively and hit a two-month low today on heavy selling pressure from investors amid rising global oil price tension.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 163 points, or 2.38 percent, to 6,676 by the end of the day.

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At the DSE, 96% of company stocks fell, meaning 365 company stocks fell out of a total of 379. 10 stocks rose and four remained the same.

Investor participation also dried up, so revenue fell 12% to Tk 916 crore.

Shares of Beximco Ltd mostly traded at a value of Tk 56 crore, followed by Bangladesh Shipping Corporation, British American Tobacco Bangladesh, Fortune Shoes and Orion Pharmaceuticals.

Pacific Denims rose 6%, followed by Yeakin Polymer which rose 1.79%, ADN Telecom 1.22%, Doreen Power 1% and Hwa Well Textiles 0.89%.

Alltex Industries lost most of this 10% drop, followed by Meghna Milk Condensed Milk 9.69%, Union Insurance 9.14%, Takaful Insurance 8.85% and Bangladesh National Insurance 8.39%.

The Chittagong Stock Exchange (CSE) also eroded today. The CASPI, the main index of the port city stock market, lost 490 points, or 2.45%, to 19,500.

Of the 304 stocks traded, nine rose, 284 fell and 11 were unchanged.

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