Nepse down as most trading groups shed points

KATHMANDU, Aug 17: Exuberance at the Nepal Stock Exchange (Nepse), the secondary share market of the country, felt after the announcement of bonus share and cash dividend by Standard Chartered Bank could not last for long.
The benchmark Nepse index dipped by 5.94 points to close at 716.01 points on Monday, the second day of the week´s trading, with most of the trading groups´ sub-indices nosediving at the end of the day.
Banking group, the most dominant player in the stock market, shed 8.34 points as price per share of major banks, including Everest Bank, Standard Chartered Bank, Machhapuchhre Bank, Citizen Bank, and Lumbini Bank dropped at the end of the session.
Similarly, Development Bank group lost 1.93 points to close at 729.49 points with some of the development banks such as Ace Development Bank, Gandaki Development Bank and Sanima Development Bank recording decline in their share prices.
Hydropower group also joined the losing bandwagon with its sub-index dropping by a whopping 21.97 points -- the highest loss among the trading groups -- as share prices of Butwal Power Company and National Hydro-power Company plunged.
Dragged down by sharp fall in the prices of major finance companies, including Lalitpur Finance, Fewa Finance, Kuber Merchant Bittiya Sanstha, the sub-index of Finance group went down by 5.5 points.
Similarly, the Insurance group also went down by a marginal 0.63 points to close at 647.82 points.
However, Others group´s sub-index gained 5.87 points to close at 663.81 points.Total turnover in Nepse stood at Rs 12.60 million with 190,531 units of shares changing hands through 1,060 transactions. The total capitalization at Nepse has reached to Rs 491.90 billion. - REPUBLICA