Stocks open lower

Dhaka stocks opened lower on Monday morning, setting the tone for ending a three-day bull-run.

The benchmark DSEX was down 26 points or 0.49 percent to 5,301, from 5,328—the level not seen after August 25, 2019. The index had posted its biggest single-day rally on Sunday, the first trading day of this week.

Other indices, the DSES fell 8 points or 0.69 percent to 1,218 and blue-chip DS30 shed 16 points or 0.86 percent to 1,899.

Shares of Robi Axiata were frozen at 10 percent upper circuit to Tk 24.70 a share on the DSE on the third day. The increase was capped by the regulatory limit for the stock.

The current rally comes in the backdrop of economic uncertainty due to the new vibrant of Covid-19. While the indices hit records, the market breath is expected to be negative on quick profit booking, analysts say.