Stock analysts see no specific reason for the current fluctuation in the benchmark index. [break]
“Market is still running through a depressive phase. Following the slight gain in the market, investors are selling their stocks, anticipating further slowdown,” said Nawaraj Pokharel, former president of Nepal Stock Brokers´ Association. Pokharel said the ongoing fluctuation in the Nepse index is a normal phenomenon seen in capital markets.
Loss in major groups such as Banking, Development Bank, Hydropower, Finance and Insurance dragged down the Nepse index on Monday´s trading. Banking and Development groups dropped to 518.37 points and 594.24 points, losing 10.36 points and 1.71 points respectively. Similarly, Hydropower, Finance and Insurance groups also declined by 1.9 points, 0.82 points and 3.7 points to close at 806.63 points, 543.94 points and 573.8 points respectively. However, Others group posted a nominal gain of 2.35 points to close at 592.16 points.
A total of 61,526 units of shares and 62 scrips worth Rs 29.13 million changed hands through 962 transactions on Monday. Total market capitalization -- total worth of listed shares -- reached was recorded at Rs 414.7 billion.
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