Stock market: Profit booking snaps four-day rally

Dhaka stocks fell marginally on Monday, as investors opted for taking profits on the record-breaking surges seen in the previous four trading sessions.

The trade started on a negative note as the key index lost around 40 points in mid-session before recovering half of the losses for betting on mainly life insurers, telecommunications, pharmaceuticals, and IT stocks.

The benchmark DSEX index declined 20 points or 0.31 percent to close at 6,424, scaling back from all-time high of 6,424.

Other indices, the Shariah-based DSES index was marginally down 3 points or 0.31 percent to 1,390, and the blue-chip DS30 index dropped 13 points or 0.58 percent to 2,322.

Trading activities increased as compared to Sunday, the opening session after the five-day Eid holidays and weekends. The volume of trade stood at Tk 1,428 crore, up 5.48 percent over the previous session.

Baraka Patenga Power Limited, which made its debut last week, hit the upper limit circuit at 10 percent to Tk 46.5, making it the best performing stock of the day. Global Heavy Chemicals also came to the spotlight, hitting almost the upper circuit at 9.8 percent to Tk 41.5.

Sonali Paper and Central Insurance were not far behind from the Baraka and Heavy Chemicals surging more than 8 percent each.

Baraka was the most traded stock, ousting heavyweight Beximco Ltd that retained the top position for a long time.

Other top traded stocks included British American Tobacco Bangladesh, Beximco, Fu-Wang Ceramic Industries, GPH Ispat, Active Fine Chemicals and Central Insurance.

The worst losers included ICB AMCL Second Mutual Fund, Shinepukur Ceramics, Index Agro Industries, Usmania Glass and Purabi General Insurance.