Stocks hit two-month low

Dhaka stocks bled massively and hit a two-month low today due to heavy sell pressure from the investors amid rising tension of global oil prices.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), plummeted 163 points, or 2.38 per cent, to 6,676 at the end of the day.

At the DSE, 96 per cent companies' stocks eroded meaning 365 companies stocks fell out of total traded 379. 10 stocks advanced and four remained the same.

Investors' participation also dried so the turnover tanked 12 per cent to Tk 916 crore.

Stocks of Beximco Ltd traded mostly worth Tk 56 crore followed by Bangladesh Shipping Corporation, British American Tobacco Bangladesh, Fortune Shoes and Orion Pharmaceuticals.

Pacific Denims rose the highest of 6 per cent followed by Yeakin Polymer that increased 1.79 per cent, ADN Telecom 1.22 per cent, Doreen Power 1 per cent and Hwa Well Textiles 0.89 per cent.

Alltex Industries shed mostly that plunged 10 per cent followed by Meghna Milk Condensed Milk 9.69 per cent Union Insurance 9.14 per cent, Takaful Insurance 8.85 per cent and Bangladesh National Insurance 8.39 per cent.

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

Among the traded 304 stocks, nine rose, 284 dropped and 11 remained unchanged.