Dhaka’s equity market has taken a significant hit due to ongoing violence and a curfew, leading investors to sell off assets and driving the key index below 5,300 points. Adding to the turmoil, S&P downgraded Bangladesh’s credit rating from BB- to B+, further eroding investor confidence. The downgrade is attributed to the country’s modest per capita income, high interest burden, and dwindling foreign exchange reserves. Consequently, the Dhaka Stock Exchange’s benchmark index dropped by 61 points, with the market capitalization losing Tk 97 billion in three days. Major sectors, including pharmaceuticals, food, and banking, faced significant declines. Trading is set to follow usual hours despite ongoing tensions.
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