Electing to bat on a surface where the ball spun sharply from the first session, Bangladesh were 180-2 before New Zealand roared back into the contest with Glenn Phillips claiming 4-53 in his second test.
Shoriful Islam (13) and Taijul Islam (eight) were dragged Bangladesh past the 300-mark before bad light stopped play at the Sylhet International Stadium.
Earlier, Bangladesh captain Najmul Hossain Shanto won the toss and elected to bat with the home side opting for a spin-heavy attack with Shoriful as the lone frontline seamer.
New Zealand wasted a review trying to get Zakir Hasan lbw by Kyle Jamieson before skipper Tim Southee, recognising the nature of the track, introduced spin in the seventh over bringing Ajaz Patel (2-76) into the attack.
The left-arm spinner struck in his fourth over when he spun one through Zakir's gate but next-man-in Shanto threw caution to the wind and counter-attacked the New Zealand spinners.
Shanto smashed three sixes in his breezy 37 before hitting a rank full toss from Phillips into the air on the leg side. Kane Williamson moved from mid-on to take the catch.
Mahmudul added 88 runs with Mominul Haque (37) to consolidate their position but off-spinner Phillips, bowling first time in a test match, broke the stand.
New Zealand bowlers subsequently kept chipping away and the early stumps meant they were spared the tricky task of batting in fading lights.
The second and final test is scheduled in Mirpur from December 6th.
