Written by The Banking Post
Stocks opened lower on Sunday as investors stayed on the sidelines amid rising concern over the prolonged Middle East conflict and its potential impact on fuel prices and energy supply.
Market sentiment weakened further after trading hours on the bourses were reduced by 30 minutes from Sunday, following the government’s move to conserve energy as the regional crisis escalates.
The Dhaka Stock Exchange’s benchmark DSEX fell 56 points, or 1.06 percent, to 5,164 within the first hour of trading at 11:00 am.
The decline reflected persistent pressure on Bangladeshi equities since the Iran-Israel war began on February 28, with investors turning risk-averse amid fears of further erosion in asset values. Given Bangladesh’s dependence on energy imports from the Middle East, the market has remained sensitive to any sign of prolonged disruption.
The DS30 index dropped 20 points to 1,960, while the Shariah-based DSES index lost 8 points to 1,051. Turnover remained subdued at Tk 1.41 billion during the period.
Among traded issues, 34 advanced, 322 declined, and 26 remained unchanged. Asiatic Lab was the most traded stock, with shares worth Tk 72 million changing hands, followed by Janata Insurance, Orion Infusion and Acme Lab.
The Chattogram Stock Exchange also moved lower, with its All Shares Price Index slipping 69 points to 14,632 and the Selective Categories Index falling 44 points to 8,938.
