Impact of book closures -- a cutoff date for transferring shares for the benefit of cash dividend and bonus shares -- of Nabil Bank and IME Financial Institution continued to take its toll in the stock market for the second consecutive day on Wednesday. The benchmark Nepal Stock Exchange (Nepse) index shed 9.72 points to close at 620.39 at the end of Wednesday´s trading session with sub-indices of almost all trading groups doing down. The Nepse had dropped 27.42 points to close at 630.11 points on Tuesday.
Banking, the dominant group in the secondary share market, suffered 13.58 points to close at 612.73 points with the fall of share prices of Nepal SBI Bank and Standard Chartered Bank despite the marginal rise in the share price of Nabil Bank. Nabil Bank had seen its share price decline by Rs 1,599 per unit on Tuesday.
Similarly, Development Bank and Hydropower groups´ indices also plunged by 5.03 points and 17.23 points to end at 674.72 points and 835.68 points respectively. In the like manner, Finance and Others groups also shed 3.44 points and 5.88 points in their sub-indices to close at 642.33 points and 646.19 points respectively. However, the sub-index of Insurance group recorded a marginal gain of 1.9 points to close at 630.74 points.
Source: Republica
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