New Zealand's chase for a target of 237 runs set by Bangladesh got off to a poor start as they lost three early wickets.
Opener Will Young was dismissed by Taskin Ahmed, while captain Kane Williamson was sent back to the pavilion for just 5 runs.
However, Ravindra Jadeja's remarkable century helped steer the Kiwis out of a challenging situation, with Tom Latham contributing to a crucial fourth-wicket partnership of over 100 runs.
Earlier, New Zealand had restricted Bangladesh to 236/9 in their 50 overs in Rawalpindi. If New Zealand wins today, they will secure a spot in the semi-finals alongside India from Group A.
For New Zealand, Michael Bracewell was the standout bowler, taking 4/26 in 10 overs, while Will O’Rourke (2/48) and Matt Henry (1/57) also chipped in.
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Bangladesh's captain, Najmul Hossain Shanto, continued to anchor the innings alongside Jaker Ali, stabilising the team after a series of quick wickets.
However, Shanto's 77-run knock, which came off 110 balls, was brought to an end when he was dismissed by a brilliant running catch from Michael Bracewell.
New Zealand's fielding excellence was on display once again, as captain Kane Williamson took a superb catch to dismiss Tawhid Hridoy, giving Bracewell his second wicket of the match.
In the following over, Rachin Ravindra caught Mushfiqur Rahim, providing Bracewell with his third wicket.
The fielding brilliance continued when Mahmudullah was caught by O'Rourke, giving Bracewell his fourth wicket.
After winning the toss and opting to field, New Zealand’s bowlers made the most of the early conditions, putting Bangladesh on the back foot from the start.
The first breakthrough came in the 11.6 overs when Mehidy Hasan Miraz (13) was caught by Mitchell Santner off Will O’Rourke’s bowling, reducing Bangladesh to 64/2.
As the pressure mounted, Bracewell then took control. Towhid Hridoy (7) was dismissed in the 20.3 overs when he sliced a delivery from Bracewell to a diving Williamson at cover. The wicket left Bangladesh at 97/3.
Mushfiqur Rahim, one of Bangladesh's most experienced players, followed shortly after, falling to Bracewell for just 2 runs, caught at deep midwicket. This left Bangladesh in a precarious position at 106/4.
Mahmudullah (4) then perished in similar fashion, attempting a big shot down the ground but getting a leading edge, which was comfortably caught by O’Rourke at short third man, leaving Bangladesh at 118/5.
Bracewell’s remarkable four-wicket haul has put New Zealand firmly in the driver’s seat as they look to wrap up Bangladesh's innings.
Earlier, New Zealand won the toss and elected to bowl first against Bangladesh in the sixth match of the Champions Trophy 2025 at the Rawalpindi Cricket Stadium on Monday.
New Zealand have made two changes to their lineup as Kyle Jamieson replaces Nathan Smith, and Rachin Ravindra comes back into the side in place of an unwell Dayl Mitchell.
Bangladesh also have two changes. Mahmudullah returns to the team, and Nahid Rana is set to make his first appearance in the Champions Trophy. Soumya Sarkar and Tanzid Shakib are left out.
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A win for New Zealand in this match will secure their place in the semi-finals alongside India in Group A. The Blackcaps are coming off a strong win in Lahore, led by centuries from Will Young and Tom Latham.
Bangladesh, on the other hand, are aiming to keep their semi-final hopes alive after losing their opening game against India. They face a tough challenge to advance from Group A.
Currently, New Zealand sits second in the Group A standings, while India, after Virat Kohli's brilliant century against Pakistan, are at the top. Bangladesh is placed third in the group.
Playing XIs
New Zealand: Will Young, Devon Conway, Kane Williamson, Rachin Ravindra, Tom Latham(w), Glenn Phillips, Michael Bracewell, Mitchell Santner(c), Matt Henry, Kyle Jamieson, William ORourke
Bangladesh: Tanzid Hasan, Najmul Hossain Shanto(c), Mehidy Hasan Miraz, Towhid Hridoy, Mushfiqur Rahim(w), Mahmudullah, Jaker Ali, Rishad Hossain, Taskin Ahmed, Nahid Rana, Mustafizur Rahman