Nervy trade pulls down stocks

Dhaka stocks fell slightly yesterday with retail investors remaining cautious about fresh investment after pressure from some merchant banks on their clients to go into forced sell-offs.
Market insiders claim the investors, especially retailers, were a bit annoyed and nervous over activities by a group of merchant bankers.
Some top merchant banks on Monday pressed their clients into sell-off shares to adjust loans that spread panic among other investors.
The benchmark index of Dhaka Stock Exchange, DSE General Index, fell 9.48 points, or 0.34 percent, to 2759.03 points. The DSE All Share Price Index also marginally declined 6.6 points, or 0.28 percent, to 2286.91 points.
Turnover however slightly increased to Tk 259.45 crore from the previous day's Tk 225.67 crore.
Majority of the securities traded down on the premier bourse. Of the 236 traded issues, 70 advanced, 156 declined and 10 remained unchanged. A total of 1,52,44,565 shares changed hands on the DSE.
Market capitalisation slipped to Tk 98,062.69 crore from Tk 98,097.87 crore the previous day.
The market started on an upbeat note. The benchmark index gained more than 35 points in the opening 30 minutes. But selling-pressure on the banking sector brought the market down.
The market returned to the level of opening trade in the next 90 minutes and held relatively steady for the next 90 minutes.
In the closing 30 minutes, the bourse lost a little and closed lower than the previous day.
Beximco Pharma topped the list of turnover leaders with 20,69,450 traded shares worth Tk 34.06 crore. The other turnover leaders for the day were Titas Gas, ACI, ICB 2nd NRB Mutual Fund, Powergrid, Desco, Square Pharma, Lanka Bangla Finance, Summit Alliance Port and Summit Power.
Chittagong stocks marked a slight fall yesterday. The CSE Selective Categories Index marginally declined 33.46 points, or 0.6 percent, to 5496.91 points, while the CSE All Share Price Index dipped 40.06 points, or 0.47 percent, to 8423.19 points.
A total of 37,17,216 shares worth Tk 37.69 crore changed hands on the port city bourse. Of the 139 traded securities, 42 advanced and 92 declined, with five finishing unchanged.