Commercial banks, development banks, finance companies and insurance companies — the key movers and shakers of the secondary market — pulled the Nepse down to five year’s low of 356.88 points today.
The secondary market has not been performing well in the last four months due to over flooded shares and low investors’ confidence.
Today’s key losers are Everest Finance (Rs 139 per until share), Standard Chartered Bank Nepal (Rs 25 per unit share) and Nepal SBI Bank (Rs 24 per until share).
The banking sub group lost 2.42 points to close at 300.09 points, whereas finance companies and insurance companies shed 1.01 points and 1.59 points respectively. The development banks sub group lost 0.86 point but hydropower companies sub group gained 0.77 point, though it could not rescue secondary market.
The market capitalisation has also dropped to Rs 317,155.88 million, whereas floated market capitalisation stood at Rs 69,143.05 million.
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