Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The benchmark index of the Dhaka Stock Exchange (DSE) lost more than 138.56 points on Sunday as investors dumped their holdings, fearing a further fall amid the intensified Middle East crisis.
US-Israel jointly launched a strike on Iran on Saturday that killed Iranian Supreme Leader Ayatollah Ali Khamenei and plunged the region into a new conflict.
The strike put nearly all oil-producing Gulf Arab countries on edge as fears of escalation grew, with Iran responding by launching missile strikes towards Israel.
The broad index of the Dhaka Stock Exchange, DSEX, fell 138.56 points to close at 5,461, down from 5,600 in the prior session.
The bullish trajectory of the capital market lost steam amid mounting geopolitical tensions in the Middle East, prompting widespread sell-offs as jittery investors turned risk-averse and adopted a wait-and-see approach, according to EBL Securities.
The blue-chip index DS30, comprising 30 leading companies, decreased by 52.09 points to 2,117.24, while the DSES Index, representing Shariah-compliant companies, decreased by 26.54 points to 1,089.66 at the close.
The market opened sharply lower, with the index plunging more than 200 points at the outset as heavy selling pressure dominated from the opening bell. Although the bourse staged a modest recovery from the early slump, sustained bearish sentiment prevailed throughout the session, leaving the majority of scrips in negative territory, according to EBL Securities.
Turnover edged down 18.13 per cent to BDT 7.76 billion from BDT 9.47 billion previously.
The majority of stocks saw price decreases. Of the 389 issues traded, 30 closed higher, 353 ended lower, and six remained unchanged on the DSE trading floor.
City Bank was the most-traded stock, with shares worth Tk 396.72 million changing hands, followed by Khan Brothers PP Woven Bag Industries, Orion Infusion, Robi Axiata, and Bank Asia.
On the sectoral front, banking stocks accounted for the largest share of turnover at 24.2 per cent, followed by pharmaceuticals at 13.1 per cent and textiles at 8.7 per cent.
All major sectors posted negative returns. The travel sector led the declines with a 4.2 per cent correction, followed by paper (-3.7 per cent) and financial institutions (-3.2 per cent), exerting significant downward pressure on the market.
The Chittagong Stock Exchange (CSE) also ended lower, with its All Share Price Index (CASPI) decreasing by 245.9 points to settle at 15,597.14 and the Selective Categories Index (CSCX) decreasing by 165.4 points to settle at 9,422.
The port city bourse traded 4.54 million shares and mutual fund units, with a turnover of Tk 127.82 million.