Nanda Kishore Mundada, president of Nepal Stock Brokers´ Association, told Republica that the lack of clear policy on the sale of promoter´ shares to general public and flooding of primary shares in the capital market have been repelling investors for the last few weeks.
“Comparatively higher return in the investment in other sectors has also helped divert investment from the stock market,” Mundada said.
Sensitive Index fell 1.9 percent or 2.47 points to close at 127.8 points. Banking, Development Bank, Finance and Insurance groups lost their sub-indices on Tuesday´s trading, while the sub-index of Finance group gained marginally.
Banking and Development group saw their sub-indices drop by whopping 12.27 and 5.41 points to close at 483.65 and 575.24 points respectively. Similarly, Finance and Insurance groups also shed 1.35 points and 0.24 points to close at 559.2 points and 575.36 points respectively. However, Hydropower and Others groups gained 3.97 and 1.18 points to touch 801.19 points and 593.34 points respectively.
Despite drop in Nepse, total turnover of shares rose from Rs 45.96 million to Rs 55.15 million on Tuesday. However, market capitalization -- total worth of listed shares -- also plunged to Rs 381.8 million from Rs 387.01 billion recorded on Monday´s trading.
Everest Bank to finance Yamaha bikes
Nepal´s leading commercial bank Everest Bank has tied up with Morang Auto Works to facilitate loan for the purchase of Yamaha bikes.
A press statement issued on Tuesday said PK Pradhan, deputy general manger of the Everest Bank, and Vishnu Kumar Agrawal, CEO of Morang Auto Works, signed the agreement.
As per the newly signed agreement, Everest Bank will extend loan for the purchase of Yamaha bikes. Initially, the bank has launched this scheme for Kathmandu Valley only from its Kirtipur branch.
The bank will finance up to 70 percent of quotation price or maximum Rs 200,000 at 10 percent interest rate. The loan will have to be repaid within three years, according to the press statement. Everest Bank is the first private commercial bank to introduce bike finance facility in Nepal.
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