Stocks sliding as if Russia-Ukraine conflict hits Bangladesh

Dhaka stocks are heading towards a massive fall for the second straight day since the Russia-Ukraine fight began on Thursday.

The benchmark index, DSEX shed 160 points or 2.34 percent with 15 minutes of the trading session in hand on Sunday.

Almost all stocks, be it large or mid-cap have been declining since the beginning of the trade.

The market closed the week on Thursday with a big fall in their indices on the news that Russia invaded Ukraine and its consequences on energy and commodity prices.

After two weekly holidays markets opened on Sunday with the hope that Dhaka stocks will rebound like elsewhere in the world. But once again Bangladesh’s stock markets show it is different from the rest of the world.

In the first five minutes into the trade, DSEX shed over 100 points or around 1.5 percent.

Global stocks rebounded strongly on Friday in the US, Asia and Europe riding on the sanction news on Russia.