KATHMANDU, Feb 8: After dropping to a three-year low on Sunday, Nepal Stock Exchange (Nepse) index continued its journey in the red zone dropping by 1.6 percent of 7.94 points to close at 489.4 points on Monday´s trading.
Share analysts said mounting selling pressure on the back of lower returns in stock market, less chances of getting rights shares with most of the banks increasing their capital base to Rs 2 billion and frequent margin call by banks are among the key reasons behind the downfall in Nepse index in recent days.
During Monday´s session, all trading groups suffered losses in their sub-indices. Banking, the dominant group in the secondary market, lost by a whopping 12.65 points to settle at 461.16 points whereas the Development Bank group saw its sub-index go down by 5.13 points.
Similarly, Hydropower and Finance groups lost 3.96 points and 1.66 points to settle at 798.85 points and 494.36 points respectively. Insurance group lost 0.75 points to close at 574.27 points.
Though the number of shares traded increased to 68,333 units from 52,696 units on Sunday, the total value of transaction declined to Rs 30.27 million from Rs 30.56 million on Sunday. Total market capitalization -- total worth of listed shares -- also increased to Rs 377.85 billion from Rs 99.58 billion.
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