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

Bangladesh’s stock market today 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.

The broad index, DSEX, of the Dhaka Stock Exchange (DSE) plunged 231 points, or 4.42 percent, to close the day at 5,008.

Of the traded stocks, the prices of 371 issues declined as investors rushed to sell, while only 10 advanced and the rest remained unchanged.

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 first had occurred on March 9, when the index dropped 6.5 percent. This was followed by another fall of 5.0 percent on March 16, and a further decline of 4.5 percent on March 18.