Bangladesh stocks fall on concerns over shaky US–Iran ceasefire

Stocks in Bangladesh fell today as investor sentiment became cautious after Israel carried out its biggest attack yet in Lebanon, raising concerns over the stability of the ceasefire.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 49 points, or 0.93 percent, till 12:40pm today. The DSEX had risen by 161.08 points yesterday.

Forhad Hossain, a stock investor, said the market has become volatile due to the war, which is adversely affecting the country’s economy.

If the war ends, the stock market will rebound; otherwise, it will continue to suffer. Investors had expected the conflict to end, but Israel’s attack on Lebanon shook confidence, he said.

Meanwhile, the World Bank projected lower GDP growth, a higher debt burden and rising inflation for Bangladesh amid the Middle East war.

Turnover at the DSE stood at Tk 487 crore. Among the traded stocks, 71 advanced, 280 declined, and 35 remained unchanged.

A similar trend was observed on the Chittagong Stock Exchange. The CASPI, the port city bourse’s main index, fell 44 points, or 0.30 percent.