Stocks suffer massive fall on panic sales

The stock market bled 120 points today as investors went for panic sales.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), shed 120 points, or 1.71 per cent, to 6,885.

Turnover, an important indicator of the stock market, also fell to Tk 1,470 crore, down from Tk 1,471 a day earlier.

Shepherd Industries topped the gainers' list that rose 9.67 per cent followed by CVO Petrochemicals, Fu-Wang Ceramics, Sonali Paper, and Fortune Shoes.

Delta Life Insurance became the most traded stock with shares worth Tk 155 crore changing hands, followed by Beximco Ltd, Fortune Shoes, Orion Pharmaceuticals, and British American Tobacco Bangladesh.

Olympic Accessories shed mostly that dropped 9.90 per cent followed by Summit Power, Dragon Sweater, Islamic Finance, and Tung Hai Knitting.

At the DSE, 47 stocks advanced, 307 dropped and 22 remained unchanged.

The Chattogram Stock Exchange also fell today.

The CASPI, the prime index of the Chittagong Stock Exchange, nosedived 400 points, or 1.94 per cent, to 20,169.

Among 294 issues traded, 37 rose, 246 fell and 11 remained unchanged.