Stocks plunge 4.42pc, biggest single-day slide since 2020

Bangladesh’s stock market on Sunday recorded its steepest single-day decline in six years amid concerns over energy supply linked to the escalating conflict involving the United States, Israel and Iran in the Middle East.

In March 2020, amid fears over the impact of the Covid-19 pandemic, investors witnessed three major declines within a span of 10 days.

The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, dropped by 231 points during the day’s trading.

The Shariah-based DSES index fell by 35 points while the blue-chip DS30 index declined by 90 points.

Most listed companies ended in the red: prices fell for 371 firms, while only 10 gained and nine remained unchanged.

Although turnover slightly increased, selling pressure dominated the market. A total of shares and units worth Tk 531 crore were traded on the DSE, up from Tk 459 crore in the previous session.

In the block market, shares worth Tk 23 crore from 30 companies were traded, with Asiatic Laboratories Limited topping the list with transactions worth about Tk 4 crore.

The Chittagong Stock Exchange (CSE) also witnessed a sharp decline as its overall index CASPI dropped by 419 points.

Prices fell for 145 companies against 17 gainers, while two remained unchanged on the CSE.

Turnover on the port city bourse fell sharply to about Tk 16 crore, compared with Tk 41 crore in the previous trading session.