Dhaka, April 20 -- Stocks opened on a dismal note on Monday, as investors remained cautious about the market's momentum following the recent adjustment in domestic fuel prices, alongside persistent uncertainties surrounding ceasefire talks in the Middle East.

The government on Saturday raised fuel prices to record highs, increasing diesel by Tk 15 per litre, octane by Tk 20, petrol by Tk 19, and kerosene by Tk 18. The move came amid heightened uncertainty, as Iran reportedly declared the Strait of Hormuz closed shortly after reopening it.

The sharp rise in fuel prices has sent fresh shockwaves through the country's corporate sector and capital market, raising concerns over profitability, inflation, and overall economic momentum.

Follow...