Stocks fall at open as govt raises fuel prices
Bangladesh, Sept. 21 -- Stocks fell in early trading on Monday after gaining for four consecutive sessions, as investors reacted negatively to a fuel price hike.
The government has raised the prices of all four major petroleum products by Tk 20 per litre, citing a global price hike.
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The market was also affected by the US Federal Reserve's decision to raise its benchmark interest rate by 25 basis points on Wednesday-the first increase in more than three years. The Fed lifted its target range to 3.75-4.00 per cent and indicated that further tightening could follow. Investors feared inflationary pressure in the coming days as production costs rise further.
The benchmark DSEX index fell 9 points, or 0.16 per cent, to 5,583 ...
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