The stock market opened today after a week-long closure. However, the market could not cheer the investors as it dropped by 6.26 points to close the day's trading at 413.02 points from the morning opening at 419.28 points.
The float index -the real barometre of the trading -dropped by 0.59 points to 34.71 points.
The others and commercial banks sub-groups dragged the Nepse down as these sub-groups plunged by 9.4 points to 513.46 points and 7.31 points to 368.53 points. All the sun-groups that witnessed trading lost today.
Nepal Telecom lost Rs 8 per unit pulling the others sub group. Similarly, most of the commercial banks -Standard Chartered Bank, Everest Bank and Laxmi Bank lost Rs 75, Rs 51 and Rs 30 per unit -lost to pull the sub group down. Hydropower, insurance and development banks sub groups also followed by shedding 4 points, 3.31 points and 3.03 points, respectively.
The investors were hopeful that Nepse might look upwards after a week-long closure as it also had happened last time when they had closed the secondary market protesting the government apathy towards the market.
Individually Arun Valley Hydropower and DCBL gained Rs 8 and Rs 4 per unit share.
The total turnover today stood at Rs 9.638 million through 615 transactions of 30,536 shares. The market capitalisation -that has topped 600,000 million last year -stood at Rs 320,761.02 million. The float market capitalisation (real transaction) stood at Rs 80,633.45 million. Bank of Kathmandu, Vibor Bikas Bank and Prime Commercial Bank topped the chart in terms of highest turnover.
Twice -in last two months time period from February 21 to May 1 -the stock market closed and the government and Security Board of Nepal (Sebon) were least bothered.
The secondary market -that operated even during the 19-day Jana Andolan II in 2006 -closed for the whole week and the government, stock exchange and regulatory authority became mere spectators. They did nothing to boost the confidence of the 1.5 million investors.
The investors had closed the Nepse for a week -from February 21 to 26 -demanding the central bank's regulation be changed as, according to them, it was not favourable to them.
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