The benchmark Nepse, which also measures the confidence of investors in the capital market, plunged 0.83 percent or 5.04 point to close at 599.33 points on Sunday, the lowest closing in 16 months. But in term of yearly close, Nepse´s drop is the lowest in five years.
Stock analysts also said mandatory provision introduced by the government for all individuals to register with Permanent Account Number (PAN) also discouraged share investors.
Nanda Kishore Mundada, president of Nepal Stock Brokers Association, said increasing number of share in the capital market and huge number of upcoming rights shares and bonus shares in the market also prompted investors to sell shares, resulting in the loss in Nepse.
During Sunday´s trading session, sub-indices of the most of the trading groups dropped except for Development Bank group. Banking, a heavyweight group in the country´s sole capital market, and Hydropower group, saw their sub-indices decline by 6.2 points and 1.35 points to reach 582.76 points and 826.34 points respectively. Indices of Finance and Insurance groups also sank 3.19 points and 0.13 points to 630.95 points and 608.94 points respectively.
Similarly, the Others group also shed 7.04 points to close at 639.15 points. However, Development Bank group gained, albeit marginally, by 0.85 points to reach 654.5 points.
Total market capitalization -- total worth of registered shares - touched Rs 420.19 billion. Total turnover reached Rs 46.98 million on Sunday with 67,656 units of shares and 67 scrips changing hands through 620 transactions.
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