Written by The Banking Post
Stocks opened lower on Sunday as investor sentiment weakened amid the prolonged Middle East conflict and the introduction of shorter trading hours to manage the ongoing energy situation.
The market saw selling pressure from the start of trading, with investors remaining cautious due to fears of fuel price volatility and its potential impact on the economy.
The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell 56 points, or 1.06 percent, to 5,164 within the first hour of trading. The DS30 index declined 20 points to 1,960, while the DSES Shariah index dropped 8 points to 1,051.
Trading hours on the bourses have been reduced by 30 minutes from Sunday as part of the government’s energy-saving measures following the US-Israel conflict with Iran.
Market turnover remained subdued, reaching Tk 1.41 billion during the period. Of the traded issues, 34 advanced, 322 declined, and 26 remained unchanged, reflecting the bearish sentiment.
Asiatic Laboratories topped the turnover chart with shares worth Tk 72 million, followed by Janata Insurance, Orion Infusion, and ACME Laboratories.
Bangladesh’s stock market has been under pressure since the Iran-Israel conflict began on February 28, with investors trimming holdings amid fears of further market volatility. The country’s dependence on Middle Eastern energy imports has made it particularly sensitive to the fallout from the crisis.
The Chittagong Stock Exchange (CSE) also witnessed a downturn. Its CASPI index fell 69 points to 14,632, while the CSCX index declined 44 points to 8,938 during the same period.
