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Dhaka stocks tumbled at the opening on Tuesday, with the benchmark index dropping sharply by 1.58 per cent as investors reacted to rising geopolitical tensions following India’s airstrikes in Pakistan.
DSEX, the key index of the Dhaka Stock Exchange (DSE), fell by 78.35 points to 4,873 within the first hour of trading. The decline was recorded around 11:28 am, when this report was filed.
“Stock markets are very sensitive. While it’s unlikely that the India-Pakistan conflict will have a direct financial impact on Bangladesh, such tensions typically spark fear among investors,” said Mohammad A Hafiz, former president of the Bangladesh Merchant Bankers Association (BMBA).
The DS30 index, which tracks blue-chip companies, lost 22.53 points to settle at 1,811.23. Meanwhile, the DSES index, representing Shariah-compliant companies, declined by 22.16 points to 1,067.
Turnover, a key indicator of market activity, stood at Tk 2.24 billion during the same period.
Out of the issues traded, only 12 advanced, 365 declined, and 12 remained unchanged.
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