Persistant slowdown in the sole secondary capital market has led the benchmark Nepse to a level recorded as far back as 50 months ago.[break]
In Thursday´s trading, Banking, Development Banks, Hydropower, Finance and Others groups lost their sub-indices whereas the Insurance group posted a marginal gain.
Banking, the heavyweight group in the stock market, and Development Banks saw their sub-indices decline by 1.77 points and 6.04 points to end at 358.39 points and 381.26 points respectively. Similarly, Hydropower, Finance and Others groups also witness falls in their sub-indices by marginal 0.41 points, 0.47 points and 4.7 points to close at 697.28 points, 346.4 points and 522.86 points respectively. However, the Others group gained 0.57 points to reach 481.88 points.
Total turnover Thursday was recorded at Rs 21.03 million with 83,899 units of shares and 76 scripts traded through 1,545 transactions. Total market capitalization, total worth of listed shares, stood at Rs 341.63 billion.
On 18th October 2006, Nepse had reached 398.14 points. Stock analysts said the soaring bank interest rate and continued decline in share prices and overflow of shares disproportionate to demands have led to prolonged slowdown in the stock market.
“The sluggish stock market has reflected the state of our economy where every sector is facing slowdown,” said Rabindra Bhattarai, a stock analyst.
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