Fuel & power sector: 100% of stocks sink as govt goes for load shedding

Share prices of all listed fuel and power companies in the capital market sank on Monday as the government is set to start country-wide load shedding from Tuesday to save energy.

No sector was left out of the sharp fall in the stock market on Monday. Among them, 12 sectors, including the fuel and power sector, saw 100 percent of their stocks went down.

The number of companies listed in the power and energy sector is 23. Most of the company’s shares decreased by close to the maximum limit of one-day price loss or two percent.

Among the power companies, Doreen Power fell by 1.99 percent, United Power by 1.93 percent, Shahjibazar Power by 1.88 percent, Baraka Patenga Power Limited by 1.84 percent, GBB Power by 1.82 percent, Baraka Power Limited by 1.69 percent, Summit Power by 1.35 percent and Khulna Power by 1.34 percent. 

Two government companies in power distribution are also listed in the capital market. Among them, the price of Power Grid Company decreased by 1.92 percent and Dhaka Electric Supply Company (DESCO) by 1.79 percent.

Besides, the prices of electrical goods maker Energypack Power Generation slid by 1.79 percent.

Among oil and gas companies, state-owned Meghna Petroleum fell by 1.90 percent, Padma Oil Company by 1.68 percent and Jamuna Oil by 0.99 percent.

Private company Lub-rref Bangladesh fell by 1.82 percent and MJL Bangladesh decreased by 1.11 percent.

State-owned gas distribution company Titas Gas lost 1.97 percent and Intraco re-fuelling prices slid by 1.94 percent.

Besides, state-owned Eastern Lubricants fell to the day’s high, meaning that 2 percent.

Loss-making CVO Petro-Chemical Refinery Ltd, a private oil refining company, decreased by 1.97 percent while profit-making Associated Oxygen Ltd slid by 1.86 percent.

Multinational company Linde Bangladesh fell by 0.56 percent and closed company Bangladesh Welding Electrode fell by 1.65 percent.