Gold fell sharply from two-week highs on Thursday after US ‌President Donald Trump said that Washington would continue its military campaign in Iran in the coming weeks, driving oil prices higher and dampening hopes of interest rate cuts.

Spot gold declined over 2.8 percent at $4,622.59 per ounce, as of 0719 ​GMT, after falling over 4 percent earlier and snapping a four-day winning streak. US gold futures slid ​3.4 percent to $4,649.

The pullback followed bullion’s climb to its highest level since March 19, before Trump’s remarks.

In a prime-time address, Trump said the US would carry out aggressive strikes on Iran ​and was nearing “completion of its main strategic objectives” in the conflict. It disappointed investors who had hoped ​for clearer signals of an end to hostilities.

Prilink Securities, a brokerage firm at the Dhaka Stock Exchange, plans to sell 7 lakh shares of SME-listed Craftsman Footwear and Accessories, a shoe manufacturer and exporter, worth Tk2.35 crore.

In a disclosure, Prilink Securities, which is a placement shareholder of Craftsman and acquired its shares during the company's listing through a Qualified Investor Offer, expressed its intention to sell the shares.

Last month, the brokerage also announced plans to sell 10 lakh shares. Today, Craftsman Footwear shares rose 2.74% to close at Tk33.70 on the DSE.

Craftsman Footwear raised Tk5 crore in 2024 by issuing shares at Tk10 each for expansion, working capital, and loan repayment. The disclosure also said Md Zahirul Islam and Md Abu Syed Titu are directors of the company and also chairman and managing director of Prilink Securities.

The export-oriented company has two production units for local and export markets. In the 2024-25 fiscal year, it reported revenue of Tk76.76 crore, with 97% from exports worth Tk74.36 crore.

The company made a profit of Tk4.32 crore, down from Tk5.44 crore a year earlier, and declared a 10.50% cash dividend. As of December 2025, sponsor-directors held 45.22% of its 2.8 crore shares, institutional investors 32%, and the general public 22.78%, according to DSE data.

The Dhaka Stock Exchange (DSE) has announced a reduction in its daily trading hours by 30 minutes in response to the ongoing fuel crisis, aligning its operational schedule with a government directive aimed at conserving energy.

In a notice issued today (4 April), the premier bourse said the revised trading and office hours will come into effect from today and will remain in force until further notice. The move reflects broader efforts by authorities to manage energy consumption amid concerns over fuel supply constraints and rising global energy prices.

Under the new schedule, DSE office hours will run from 9:00am to 4:00pm. The trading session will now begin at 10:00am and continue until 2:00pm, shortened from the previous closing time at 2:30 pm. The continuous trading session will take place between 10:00am and 1:55pm, followed by a five-minute post-closing session from 1:55pm to 2:00pm.

The decision comes at a time when the country is grappling with energy-related challenges, prompting the government to adopt a series of measures to optimise fuel usage across sectors. Financial markets, like other institutions, are being brought under these measures to ensure coordinated efforts in addressing the crisis.

Officials at the DSE said the adjustment is part of a compliance effort and aims to support national initiatives without disrupting market operations significantly. They added that the revised schedule has been carefully structured to maintain an efficient trading environment while contributing to energy-saving goals.

Investors and brokerage houses have been advised to take note of the new timings and plan their activities accordingly. The DSE also assured stakeholders that any further changes to the schedule would be communicated promptly, depending on the evolving situation.

The government has taken initiatives to set up nine new factories with the aim of creating employment, Khandaker Abdul Muktadir, minister for Commerce, Industries, Textiles, and Jute ministry said today (2 April).

Speaking in parliament, the minister stated that the ministry has planned to establish new industrial enterprises to eliminate unemployment.

The factories are listed below.

Urea Formaldehyde-85 (UF-85) Plant: A detailed techno-economic feasibility study is currently underway to establish a UF-85 factory on the vacant land of Ghorashal Polash Fertilizer Public Limited Company (GPFPLC), under the Bangladesh Chemical Industries Corporation (BCIC).
New TSP Fertilizer Factory: Efforts are ongoing to appoint an international consulting firm to conduct a detailed techno-economic feasibility study for a new fertilizer factory with an annual production capacity of 400,000 tonnes at TSP Complex Ltd. (TSPCL).
Starch and API Complex: Initiatives have been taken to implement a project titled "Starch Factory and Active Pharmaceutical Ingredients (API) Complex" on the premises of Khulna Newsprint Mills Ltd. (KNML) and Khulna Hardboard Mills Ltd. (KHBML). The techno-economic feasibility study and the Development Project Proposal (DPP) for this project have been completed.
Karnaphuli Paper Mills Ltd. (KPML) Expansion: Initiatives have been taken to set up a full-fledged paper mill including afforestation, a Soda Ash and Baking Soda plant, a Sodium Sulfate plant, an Activated Bleaching Earth plant, a Titanium Dioxide plant, a Sulfuric Acid plant, and a Synthetic or Polyester Fiber plant on the KPML premises. The techno-economic feasibility study is complete, and the drafting of the DPP is in progress.
Basic Chemical Factory: An initiative has been taken to establish a Chloro-Alkali and chlorine-related basic chemicals factory on the premises of Chittagong Chemical Complex (CCC).
Insulator and Sanitaryware Plant: Plans are in place to set up an eco-friendly, energy-efficient modern insulator and sanitaryware plant at the Bangladesh Insulator and Sanitaryware Factory Ltd. (BISFL).
WPP Bag Manufacturing: A pre-feasibility study has been completed to establish a WPP bag manufacturing factory as a backward linkage industry at the GPFPLC premises, utilizing existing management, land, and utilities.
New Urea Factory in Bhola: There is an initiative to set up a new urea fertilizer factory in Bhola district. Site selection activities are ongoing following the completion of a pre-feasibility study.
Modern Glass Factory: A pre-feasibility study has been completed for a modern glass factory using advanced technology on 197 acres of unused land adjacent to the Ashuganj Fertilizer Factory.

The minister further mentioned that while the Bangladesh Small and Cottage Industries Corporation (BSCIC) does not directly establish industrial enterprises, it creates industrial estates or parks where entrepreneurs set up their own factories.

Currently, there are 83 BSCIC industrial estates or parks across the country, housing 6,223 industrial units.

To eradicate unemployment, the BSCIC will take initiatives to establish more industrial estates/parks based on specific proposals, raw material availability, entrepreneur demand, and the availability of uncultivated, unused, or abandoned land through the district administration, subject to feasibility studies.

Entrepreneurs will be able to establish various industrial units in those locations.

The National Board of Revenue (NBR) is planning to raise the exemption limit for excise duty on annual bank deposits to Tk5 lakh from the existing Tk3 lakh, a move aimed at easing the tax burden on small depositors.

Currently, deposits between Tk3 lakh and Tk5 lakh are subject to a nominal excise duty of Tk150.

According to Bangladesh Bank data, approximately 40 lakh account holders maintain deposits in the Tk3-5 lakh range. If the exemption is implemented, these depositors would benefit from the new relief, though the government could face a revenue shortfall of around Tk200 crore, NBR sources said.

Experts argue that imposing excise duty on bank deposits is unjustified. Interest earned on deposits is already subject to income tax, and banks levy VAT on service charges, raising questions about the rationale for an additional excise duty.

During pre-budget discussions last Wednesday, NBR Chairman Abdur Rahman Khan confirmed plans to propose excise duty relief for bank deposits but did not provide further details.

Speaking to The Business Standard, he said, "We intend to provide relief on excise duty. However, no final decision has been made yet."

NBR officials reportedly discussed the proposal with the finance minister last week, and if the government approves, it could be presented in the budget slated for June.

A senior NBR officer, speaking on condition of anonymity, explained that deposits up to Tk3 lakh are already exempt and that the plan is to extend the benefit to deposits up to Tk5 lakh.

The officer added, "If implemented, the measure would result in a potential revenue reduction of around Tk200 crore. Our long-term plan is to gradually phase out excise duty on bank deposits altogether."

Md Luftor Rahman, a former NBR member of the Customs Policy wing, criticised the excise duty, calling it unnecessary. "Interest on the same accounts is taxed under income tax, and banks collect VAT on service charges. Collecting excise duty in addition makes little sense," he said.

Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank, said that excise duty is collected for convenience, as banks remit it on behalf of the NBR. He argued that the levy leads to duplication since the same amount can be subject to excise multiple times throughout the year and discourages low-income earners from keeping deposits in banks.

Current excise duty structure

The government has set a target to collect approximately Tk2,000 crore from excise duties this year. Under the prevailing rules, the duty is calculated based on the highest balance reached in an account at any time during the year.

Currently, bank deposits up to Tk3 lakh are exempt from excise duty. Deposits between Tk3,01,000 and Tk5 lakh are subject to a duty of Tk150, while those from Tk5,01,000 to Tk10 lakh incur Tk500.

Deposits ranging from Tk10,01,000 to Tk50 lakh are charged Tk3,000, and those between Tk50,01,000 and Tk1 crore carry Tk5,000. For deposits from Tk1,01,00,000 to Tk2 crore, the duty is Tk10,000, and for deposits between Tk2,01,00,000 and Tk5 crore, it rises to Tk20,000. Any deposit above Tk5 crore is liable for an excise duty of Tk50,000.

The Bangladesh Bank has started allowing a gradual depreciation of the taka against the US dollar to manage pressure from rising global energy prices, with analysts indicating there is further room for the currency to weaken.

The exchange rate has already started to depreciate gradually since 8 March, as the dollar rose close to Tk123 after remaining stable at Tk122.30 for months.

Real Effective Exchange Rate (REER), measured based on 17 currencies and incorporating both inflation and exchange rate data of major trade partners, stood at Tk126 on 29 March, indicating that the central bank has room to devalue the taka by Tk3.24 to remain export competitive.

Moreover, the exchange rate band prepared daily by the central bank, based on currency movements of trading partners, shows an upper band of Tk130 and a lower band of Tk125. The upper band suggests that the Bangladesh Bank can still allow a 5.6% depreciation until the dollar reaches Tk130.

The exchange rate band, prepared following a formula recommended by the IMF, also suggests that the current exchange rate is below the lower band.

The band was introduced in December 2024 when the Bangladesh Bank implemented greater exchange rate flexibility in line with a staff-level agreement with the IMF. This band is not publicly disclosed and is used internally to monitor the foreign exchange market.

Under the IMF formula, the Bangladesh Bank is supposed to buy dollars when the exchange rate falls below the lower band and sell dollars when it exceeds the upper band.

However, the central bank stopped buying dollars through auctions in March due to the global oil price shock, while still allowing a slower-than-expected depreciation through price guidance.

It will also refrain from selling dollars from reserves unless the exchange rate exceeds the upper band, according to a senior central bank executive.

Indian refiners have purchased Iranian oil amid the middle east conflict that has disrupted supplies through ‌the Strait of Hormuz, the oil ministry said yesterday (4 April).

The world's third-biggest oil importer and consumer, India has not ​received a cargo from Tehran since May ​2019, following US pressure not to buy Iranian ⁠crude, but supply disruptions from the US-Israel war have ​hit the South Asian nation hard.

"Amid Middle East ​supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for ​Iranian crude imports," the oil ministry said on ​X.

Last month, the United States temporarily removed sanctions on Iranian oil ‌and ⁠refined products to ease supply shortages.

India has secured its full requirements of crude oil for the coming months, the ministry added.

"India imports crude oil from ​40-plus countries, ​with companies ⁠having full flexibility to source oil from different sources and geographies based on ​commercial considerations."

India has also bought 44,000 metric ​tons ⁠of Iranian liquefied petroleum gas loaded on a sanctioned vessel. The ministry said the vessel, which berthed at ⁠the ​western port of Mangalore on ​Wednesday, is discharging the fuel.

Political uncertainty and liquidity stress have emerged as the biggest challenges facing Bangladesh's capital market in 2026, according to a comprehensive sentiment survey conducted by LankaBangla Securities, highlighting a cautious yet hopeful outlook among investors and market participants.

The survey was conducted from 1 January 2026 to 25 February 2026, with 101 respondents from diverse backgrounds participating.

The survey found that nearly 40% of respondents identified political instability as the most pressing concern for the year ahead, while liquidity crunch ranked as the second major challenge, cited by 22.8% of participants.
Concerns over weak corporate governance, declining foreign participation, and a lack of innovative financial products also featured prominently, though to a lesser extent.

Despite these concerns, the survey suggests that market participants are not entirely pessimistic. A significant portion of respondents acknowledged the effectiveness of regulatory policies in 2025, with 45.5% rating them as effective and nearly 10% considering them highly effective.

However, a sizeable group remained critical, indicating that confidence in regulatory oversight is still evolving.

The policy, regulatory, and tax environment was identified as the most influential factor shaping the market in 2025, followed closely by financial sector health and liquidity conditions. This underscores the central role of policy direction and macroeconomic stability in determining market performance, particularly in a period marked by global uncertainty and domestic economic pressures.
Political developments continue to dominate expectations for the future. More than half of the respondents believe political stability will be the single most important driver of market performance in 2026.

Foreign investor participation remains a key concern, with political risks identified as the primary deterrent. Weak governance in listed companies and fears of currency depreciation were also cited as significant barriers, indicating that structural reforms are needed to attract international capital.

In terms of market outlook, investors appear moderately optimistic. Most respondents expect the benchmark index to close between 5,500 and 6,500 by the end of 2026, while daily turnover is projected to remain within a modest range, suggesting a gradual recovery rather than a sharp rebound.

The banking sector is expected to lead market growth, followed by pharmaceuticals and insurance, the survey finds.

Investment strategies are also shifting, with more than half of participants favouring medium-term investments, reflecting a balanced approach amid ongoing volatility. Equities are expected to outperform other asset classes, though gold remains a strong alternative for risk-averse investors.

The survey also highlights persistent structural challenges, particularly in the bond market, where nearly half of the respondents expressed dissatisfaction with its development. At the same time, most participants emphasised the need to eliminate double taxation on dividends and reduce capital gains taxes to stimulate investment.

Encouragingly, over 60% of respondents believe that the integrity of Bangladesh's financial markets will improve in 2026, although concerns over fraud, manipulation, and weak enforcement remain significant. Calls for enhanced transparency, stricter regulatory enforcement, and better corporate governance practices were identified as critical to restoring trust.

Nepal’s first billionaire, Binod K Chaudhary, yesterday said Bangladesh and Nepal could significantly deepen economic ties, particularly in energy and cross-border trade, which can be largely facilitated by stronger regional cooperation involving India.

“We would like to enter into a much bigger economic engagement with Bangladesh, but without India playing a positive role, that’s not going to happen,” Chaudhary said at a press conference organised by the International Chamber of Commerce Bangladesh (ICCB) in Dhaka.

The event, held at Platinum Grand in Banani, marked the launch of his book “Made in Nepal: Lessons in Business Building from the Land of Everest.”

Chaudhary pointed to Nepal’s growing hydropower capacity as a concrete opportunity, saying Nepal could develop projects specifically targeting the Bangladeshi market, with India facilitating transmission.

India’s evolving stance on cross-border energy cooperation, he added, offers a window for such initiatives.

This becomes necessary due to geography. As Nepal is a landlocked country, trade of this nature depends largely on India’s cooperation.

Binod Chaudhary controls Nepal’s CG Corp Global. The businessman made it to the Forbes billionaire list in 2013. As of yesterday, Forbes estimated his net worth to be $2.1 billion.

Also speaking at the event, Abdul Awal Mintoo, minister of environment, forest and climate change, referred to classical economic theory to stress the value of neighbouring markets.

Drawing on the ideas mentioned in The Wealth of Nations, a classic work of economist Adam Smith, he argued that a country’s prosperity depends significantly on its ability to trade with its neighbours.

He cautioned that reliance on natural resources alone can not be a sustainable path to growth, noting that many resource-rich countries had struggled while trade-driven economies had fared better.

The minister also said strengthening economic ties with adjacent countries should take precedence over distant partnerships when it comes to boosting trade and long-term growth.

Political considerations, he added, should not be allowed to override the economic logic of regional integration.

He said enhanced connectivity, energy collaboration, and trade integration among South Asian nations could unlock substantial economic opportunities, provided countries prioritise pragmatic partnerships over political constraints.

Nepalese Ambassador to Bangladesh Ghanshyam Bhandari said the two countries share similar economic challenges and aspirations, making cooperation in trade and investment both natural and necessary.

The longstanding bilateral relationship, he said, is rooted in geographic and economic interdependence, symbolically linked by rivers flowing from the Himalayas to the Bay of Bengal. He identified stronger engagement between the business communities of the two countries as the practical vehicle for expanding bilateral trade.

The ambassador said Nepal and Bangladesh have the opportunity to define their own economic trajectory through closer regional cooperation, with trade acting as the central pillar of that engagement.

Moderating the event, ICCB President Mahbubur Rahman said businesses in the South Asia region had the potential to compete globally if backed by innovation, long-term vision and sound policy.

Entrepreneurship remains a critical driver of economic growth, particularly for emerging economies like Bangladesh and Nepal, he said. He added that cross-border collaboration and private sector engagement will be crucial in building a more competitive, resilient and globally connected economy in South Asia.

Despite facing liquidation, the shares of scam-hit non-bank financial institutions (NBFIs) have surged sharply on the stock exchanges over the past three months.

The five listed NBFIs-FAS Finance, Premier Leasing, Fareast Finance, People's Leasing, and International Leasing-have seen their share prices jump between 238 per cent and 343 per cent during the period, while they have remained largely non-operational for years.

This has happened at a time when many well-performing companies are experiencing price erosion on the back of global geopolitical tensions surrounding the Middle Eastern war.

Market analysts attribute the unusual rally to speculation that the BNP-led government may reconsider or delay the liquidation process.

Earlier, the announcement of the institutions' winding up had sent their stocks plunging below Tk 1 each.

"Speculative trading and short-term profit motives fueled the recent price surge of non-functional NBFIs," said Salim Afzal Shawon, head of research at BRAC EPL Stock Brokerage, in a telephonic conversation with The Financial Express.

He noted that the absence of a clear policy direction from the new government has created optimism among a section of investors, while low share prices have also attracted retail participants.

With share prices reduced to a penny or even less, some investors were inspired to place bets on them to earn quick gains, said Mr Shawon. "Investors in these stocks have taken high-risk bets."

In December last year, the Bangladesh Bank announced the winding up of nine NBFIs-eight of which are listed-marking the first large-scale liquidation in the country's financial sector.

The move aims to protect depositors and restore financial stability, as the institutions have long struggled to repay them due to unsustainable financial conditions stemming from massive irregularities and loan fraud during the previous government.

Although their stocks had long traded far below face value, the central bank's announcement sparked panic, and the shares fell below Tk 1 per share in January this year.

Later, three of the nine firms-Prime Finance, GSP Finance, and Bangladesh Industrial Finance Company (BIFC)-were given six months in January to improve their financial conditions.

Analysts, however, said such low-performing stocks have recently become targets for speculative trading. Manipulators often drive up prices through serial trading and spread rumours to lure general investors.

Md Sajedul Islam, a DSE director, described the rally as "abnormal," blaming price manipulation for the surge in fundamentally weak companies.

"The stock price hike of these junk stocks is unusual considering their current status," said Mr Islam, also managing director of Shyamol Equity Management.

However, he said the government had recently started preparations to compensate small investors of the five banks that merged into Sammilito Islami Bank, which may have drawn investors to put money into these NBFIs in anticipation of getting their money back with profits.

Instructed by the high-ups of the new government, the Financial Institutions Division (FID) is calculating the amount needed to compensate investors who bought shares of the five banks from the stock market.

The mode of payment-whether investors will be compensated based on the prices of shares on the last trading day or at face value-is yet to be finalised.

"The possibility of policy reconsideration by the new government has reignited speculative trading in these stocks," said Mr Islam.

The newly appointed Bangladesh Bank Governor Md Mostakur Rahman, however, said that the initiative to merge the country's weak banks would continue.

But the liquidation process of weak NBFIs under the new governor remains unclear.

Akramul Alam, head of research at Royal Capital, said that given the current financial condition, general investors have little to hope for, as they would be at the bottom of the repayment hierarchy.

In other words, once assets are sold and liabilities are settled, little-or nothing-may remain for ordinary shareholders.

Under liquidation rules, external creditors are paid first, followed by depositors, debenture holders, and preferential shareholders.

"In such insolvency-driven liquidation, shareholders sit at the very bottom of the list of claimants," Alam said.

Collectively, the NBFIs facing liquidation account for 52 per cent of total defaulted loans in the NBFI sector, estimated at Tk 251 billion at the end of 2024.

Except for Prime Finance, all recorded negative net asset values (NAV), ranging from Tk 0.62 to Tk 219.03 per share. This indicates that their liabilities far exceeded their assets, reflecting severe financial distress and poor asset quality.

Shareholders of the NBFIs slated for liquidation may ultimately lose everything unless the government compensates general investors, Mr Alam said.

Ballooning energy cost overruns set budget amid the Gulf crisis as a hefty subsidy worth around Tk 45 billion or US$370 million is sought only to meet LNG-import bills for a single month of April.

Officials say the state-run Petrobangla has placed the subsidy demand with the Ministry of Finance (MoF), as global fuel prices spike and reserves a limited.Energy & Utilities

The April subsidy amount, as sought by the corporation, is more than 50 per cent of the entire subsidy amount worth Tk 89 billion it got from the MoF in the previous fiscal year (FY) 2024-2025.

"We sought the subsidy as we shall be importing eight liquefied natural gas (LNG) cargoes from volatile spot market out of total nine LNG cargoes we have planned to import in April," Petrobangla director for finance AKM Mizanur Rahman told The Financial Express on April 2.

State-run Rupantarita Prakrtik Gas Company Ltd (RPGCL), a subsidiary of Petrobangla, bought seven LNG cargoes from spot market through tenders and another spot cargo scheduled to be delivered in March has been shifted to April, he said.

The RPGCL, a wholly owned subsidiary of Petrobangla and responsible for LNG trading in Bangladesh, palpably runs a rough course for supply disruptions in the wake of the Mideast mayhem triggered by US-Israel attacks on Iran.

Average LNG-import costs of the eight spot LNG cargoes to be delivered in April range up to around US$21 per million British thermal unit (MMBTu). Hadn't the war happened and the Strait of Hormuz not restricted, Bangladesh would import most of the LNG cargoes from long-term suppliers at a cost of around $9.0 per MMBTu to $11 per MMBTu, he said.Stock market education

Bangladesh imported two LNG cargoes from spot market in March after a hiatus of over two months, to tide over LNG-supply uncertainty stemming from the Middle East war, he mentions.

To foot increased bills for the must-have fuel to supplement the supply of domestic natural gas in March, the Ministry of Finance provided Tk 10 billion to Petrobangla.

"If the war doesn't stop and the Strait of Hormuz remains restricted for Bangladesh-bound LNG cargoes, Petrobangla's subsidy requirement to import LNG in the current fiscal year, or FY 2025-2026 (July-June), might go all-time high," says the Petrobangla official.

Petrobangla had previously received state subsidies worth around Tk 25 billion in FY 2019-2020, Tk 35 billion in FY 2020-2021, Tk 34.97 billion in FY 2021-2022, Tk 60 billion in FY 2022-2022, Tk 63.32 billion in FY 2022-2024, and Tk 89 billion in FY 2024-2025 on account of LNG imports, he says.

Bangladesh had trimmed LNG buys from the spot market until February after starting the import under new long-term sales and purchase agreements, or SPAs, from Qatar and the US from January along with previous suppliers, the official elaborates on the fuel-supply lines.

Riding on LNG supplies from new sources, Petrobangla had a plan to buy only a dozen cargoes from spot market in 2026 compared to the import of 49 spot LNG cargoes in 2025.Wealth management services

But halt in delivery from the long-term suppliers and a couple of short-term suppliers of Saudi Arabia and Oman forced Petrobangla to go for LNG purchases from spot market extensively.

Delivery of a total of eight LNG cargoes has so far been affected for Bangladesh due to the 'force majeure' by the long-term LNG suppliers as well as restrictions on the passage of ships through the Strait of Hormuz, he mentions.

Since Bangladesh's LNG imports began in 2018, the country has imported approximately 35.878 million tonnes (mt) of LNG through 579 cargoes as of February 2026, according to RPGCL data.

Bangladesh's overall natural gas supplies currently hover around 2.53 billion cubic feet per day, inclusive of 822 million cubic feet per day of regasified LNG, according to official Petrobangla data as of March 30.

The ongoing Middle East tensions and uncertainty surrounding the country's fuel supply have weighed heavily on the capital market, as weak investor confidence led to a return of downward momentum throughout last week, with broad-based selling pressure across most sectors.

The market remained on a negative trajectory from the very beginning of the week. The index declined in each of the first three trading sessions, further heightening investor concerns. Midweek, some investors engaged in bargain hunting, resulting in a temporary positive movement in the index.

However, the recovery was short-lived, as momentum quickly faded in the absence of strong positive news or policy support.

By the end of the week, the benchmark DSEX shed 149 points to close at 5,220. The blue-chip DS30 decreased by 86 points to 1,980, while the Shariah-based DSES dropped 20 points to 1,060. The DSE SME Index (DSMEX) rose by 134 points to close at 1,065.

Despite this gloomy week, average turnover increased by 25.78% to Tk668 crore, compared to Tk531 crore in the previous week. Total weekly turnover rose to Tk3,342 crore, up from Tk2,657 crore a week earlier. Market capitalisation decreased by 2.48%, reaching Tk689,399.86 crore, down from Tk706,912.58 crore the previous week.

Of the 412 issues traded at DSE, 172 advanced, 206 declined, 12 remained unchanged, and 22 were not traded.

According to market analysts, global instability and fears of a potential energy crisis are influencing investment decisions. Additionally, comments from the government about restructuring the stock market have prompted a segment of investors to stay on the sidelines.

Meanwhile, remarks by the Bangladesh Bank governor regarding non-bank financial institutions (NBFIs) created fresh volatility in shares of some companies in the sector.

Governor Md Mostakim Rahman recently said the finance ministry would provide the required funds to complete the liquidation process. The statement reinforced expectations that the authorities are moving decisively to wind down several financially weak NBFIs.

Taken together, investors are currently in a wait-and-see mode. Analysts are not optimistic about near-term stability unless there is an improvement in fuel supply, easing of global tensions, or clear policy direction from the government regarding the stock market.

The prolonged decline has also increased frustration among retail investors, many of whom are calling for swift and effective measures to restore confidence in the market.

In its weekly market review, EBL Securities said the capital bourse reverted to its losing streak this week, with investor sentiment weighed down by the ongoing Middle East crisis and prevailing uncertainties over domestic fuel shortages, prompting broad-based sell-offs across the trading board.

The index lost points during the first three sessions of the week, and although a brief bout of bargain hunting provided a temporary rebound, momentum quickly faded in the absence of any decisive positive catalyst.

Investors were primarily active in the pharmaceutical sector, which accounted for 16.6% of total turnover, followed by the engineering sector at 12.4% and the textile sector at 9.8%.

However, most sectors posted negative returns. The travel sector recorded the largest loss at 3.9%, followed by financial institutions at 3.6% and the cement sector at 3.3%, making them the worst-performing sectors of the week.

The Bangladesh Securities and Exchange Commission (BSEC) has suspended Assistant Director Md Ibrahim Ali over allegations of misconduct and launched departmental proceedings against him.

A commission order issued today (4 April) stated that Ibrahim Ali faces charges of breach of discipline, conduct unbecoming of a public servant, and other actions deemed inappropriate for a BSEC employee. A formal inquiry has already been initiated to examine the allegations.

This follows a series of disciplinary actions at the commission. In April last year, 21 officials were suspended over alleged breaches of conduct, reportedly creating fear and demoralisation among staff.

The commission noted that, under the Bangladesh Securities and Exchange Commission Employees Service Rules, 2021, proven charges may lead to severe penalties, including Ibrahim's dismissal. Considering the seriousness of the case, the BSEC decided to place him under suspension to ensure a fair and impartial investigation.

During this period, he will receive a subsistence allowance as per government regulations. The order took immediate effect in the public interest, with further disciplinary measures to follow based on the inquiry's outcome.

In January, former BSEC Director Abu Raihan Mohammad Mutasim Billah was compulsorily retired after being proven to have misconduct. Allegations included misusing advance funds for house construction, submitting false progress reports, presenting incomplete bills, and seeking extra funds for interior work.

A 27 November 2025 investigation substantiated multiple claims, prompting disciplinary action at the 987th commission meeting.

Bangladesh overtook China in garment exports to the United States during the January-February period of 2026, as China lost its top position amid the impact of American reciprocal tariffs, according to data from the Office of Textiles and Apparel (OTEXA) released yesterday.

China is now the third-largest garment exporter to the US, while Vietnam has become the top apparel exporter, with Bangladesh ranking second, the data showed.

In January-February, Bangladesh exported garments worth $1.37 billion, down 8.53 percent compared with the same period last year.

Vietnam exported garments worth $2.7 billion, up 2.88 percent year-on-year.

China, however, exported garments worth $1.17 billion in the same period, posting a negative growth of 57.65 percent compared with January-February 2025.

Overall, the US imported garments worth $11.53 billion during the period, registering a 13.47 percent year-on-year decline.

Bangladesh faces three major economic challenges – an inherited fragile economy, low revenue collection, and rising expenditure due to the Middle East war, Finance and Planning Adviser Amir Khosru Mahmud Chowdhury has said.

"We aim to address these challenges by increasing investment, boosting employment, and raising domestic revenue," he said today (1 April), while responding to journalists after a meeting with National Board of Revenue (NBR) officials at the Revenue Building in Agargaon.

He said the government aims to revive the fragile economy by creating an investment-friendly environment instead of relying on borrowing and printing money.

"The government is shifting its focus from a debt-driven economy to an investment-led one," he reiterated.

The government will move away from excessive money printing to keep the economy stable, the adviser added.

"Strengthening the economy is essential to increase the tax-to-GDP ratio, and both local and foreign investment will be the main drivers of that strength," he said.

To restore investor confidence, the adviser said frequent policy changes would be avoided.

"Policies will remain stable for a defined period to allow long-term planning," he said.

"The government will move towards deregulation to ease investment," he added.

Bangladesh Bank has enlisted seven Cost and Management Accountant (CMA) firms to conduct audits of applications for export subsidies and cash incentives, according to a central bank directive issued today (1 April).

In a circular issued to all authorised dealer banks, the central bank said each approved CMA firm may undertake auditing assignments for up to three banks in a given financial year.

The seven approved CMA firms are A. Hannan & Co, Hossain & Co, Mujibur Rahman & Co, Podder & Associates, Safe‑Q Associates & Co, Saifur Enayet & Associates and SAM & Associates.

Previously, only chartered accountant firms were permitted to carry out these audits.

Bangladesh Bank expects the move will help ensure greater transparency in the distribution of export incentives and speed up the audit process.

Oil prices climbed more than $4 on Thursday after President Donald Trump said the United States would continue to attack Iran, including energy and oil targets over the next few weeks, and did not commit to a specific timeline to end the war.

Brent crude futures rose $4.88, or 4.8%, to $106.04 per barrel by 0200 GMT. US West Texas Intermediate crude futures were up $4.17, or 4.2%, to $104.29 per barrel.

The gains come after both benchmarks had fallen more than $1 earlier on Thursday ahead of Trump's speech and had settled lower in the previous session.

Trump said in a televised speech to the nation that the US military had nearly completed its goals in its war with Iran, and that the conflict would soon be ending, but gave no specific timeline.

"We are going to finish the job, and we're going to finish it very fast. We're getting very close," he said.

Threats to maritime traffic have grown as the conflict intensifies across the region. Most recently on Wednesday, an oil tanker leased to QatarEnergy was hit by an Iranian cruise missile in Qatari waters, its defence ministry said.

The head of the International Energy Agency cautioned on Wednesday that supply disruptions will start to impact Europe's economy in April. The continent had previously been shielded by cargoes contracted before the war started.

Hotel and restaurant owners have said they still need to visit VAT offices and "negotiate" with officials, despite the National Board of Revenue (NBR) introducing the online VAT return submission system.

The allegation was raised during a pre-budget meeting held today at the NBR headquarters.

Khaled Ur Rahman, former president of the Bangladesh International Hotel Association, said, "VAT officers treat us like thieves, even though we want to help the government collect revenue. Their behaviour should be professional."

Imran Hassan, secretary general of the Bangladesh Restaurant Owners Association, said many hotels, restaurants, and street food vendors remain outside the VAT net, creating unfair competition for compliant businesses.

He alleged that large, unregistered businesses evade VAT, sometimes with officials benefiting personally. "A well-known restaurant in Uttara sells over 1,000 kilograms of beef daily but remains outside VAT registration. Officers take money from them."

The NBR chairman, presiding over the meeting, rejected claims that the online system is ineffective, stating that once VAT returns are submitted online, visiting offices is unnecessary. He instructed officials to behave professionally, but also questioned whether businesses themselves are evading VAT.

Sharing his own experience, he said he bought sweets twice from the Dhanmondi outlet of Noni Sweets without receiving VAT receipts. When he asked, the staff claimed their EFD machine was out of order. Noni Gopal Ghosh, the owner, was present at the meeting.

The meeting also saw industry requests to reduce import taxes on alcohol to boost tourism, lower minimum taxes on beverages, and withdraw supplementary duty on bottled water. Representatives from 10 organisations shared their proposals during the session.

In another development, officials from the National Board of Revenue (NBR) have indicated that the 7.5% advance tax on newsprint imports for the newspaper industry may be withdrawn.

A senior official told The Business Standard the proposal was presented to the finance minister during a pre-budget meeting yesterday, and the minister responded positively.

The move follows a request by the Newspaper Owners' Association of Bangladesh (NOAB) to reduce or remove import duties and taxes on newsprint. Although the tax is refundable later, industry representatives have long raised concerns over the complex refund process.

The dollar largely held steady on Wednesday as investors grew cautiously optimistic about prospects ​for a ceasefire in the Middle East conflict, though mixed signals kept markets on edge.

The yen has recovered from this year's ‌low of 160.46 per dollar, moving back through the psychologically important 160 level that had fanned concerns about intervention by Japanese authorities. The euro hit more than a one-week high.

"Looking at the market as a whole, expectations for a ceasefire are basically rising, so I think the reversal of the long-running 'buy dollars, sell yen' trade is likely to ​continue," said Sho Suzuki, market analyst at Matsui Securities.

Still, Suzuki added the move has not become a one-way shift into the yen ​gaining momentum due to concerns that the conflict may not wind down easily.

The dollar index , which measures the greenback ⁠against a basket of currencies including the yen and the euro, was last down 0.03 percent at 99.70, slipping to a one-week low. The euro edged ​up 0.2 percent at $1.1574.

The Japanese yen was flat against the greenback at 158.63 per dollar. Sterling strengthened 0.29 percent to $1.3261.

The White House said US President Donald Trump would ​address the nation "to provide an important update on Iran" at 9 p.m. EDT on Wednesday (0100 GMT on Thursday). The president said earlier in the day the US could end its military campaign against Iran within two to three weeks, while Secretary of State Marco Rubio told Fox News Washington could see the "finish line" in the Iran war.

At the same time, ​there were signs of escalation in the conflict. US Defense Secretary Pete Hegseth said the next few days in the war against Iran would be ​decisive and warned Tehran that the conflict would intensify if it did not make a deal.

The Wall Street Journal also reported the United Arab Emirates is preparing to help ‌the US ⁠and other allies open the key Strait of Hormuz waterway by force. The Israel Defense Forces said a surface-to-air missile downed an Israeli military drone during operational activity in southern Lebanon overnight, and missiles and drones continued to strike across the Gulf.

Nitol Insurance PLC, a listed insurer on the stock exchange, has recommended a 10% cash dividend for its shareholders for 2025.

In 2024, the company paid a 10% dividend, comprising 5% stock and 5% cash, according to company data.

Following the declaration, its share price today (1 April) surged by 3.66%, or Tk1, to Tk28.30 at the Dhaka Stock Exchange (DSE).

According to a disclosure published yesterday (31 March) on the stock exchange website, its earnings per share (EPS) declined to Tk1.93 for 2025, from Tk1.97 in the previous year.

Its net asset value per share stood at Tk31.30 and net operating cash flow per share at Tk0.28, compared to Tk31.33 and Tk0.22, respectively, in 2024.

The insurer has called its annual general meeting (AGM) on 12 July through a digital platform. The record date has been fixed for 10 May to determine eligible shareholders, the disclosure said.

Nitol Insurance was listed on the stock exchanges in 2005.

As of February, sponsor-directors held 35% of its shares, institutional investors 25.93%, and the general public 39.07%, according to available data.