Share analysts said decline in the share price of Nepal Telecom (NT) by Rs 36 per unit to Rs 467 was the major factor behind the double digit decline in the Nepse index. A total of 480 units of shares of NT worth Rs 228,190 were traded on Wednesday. [break]
“Share prices have continued to decline in the last few days as the government hasn´t come up with necessary measures to boost investors´ confidence in the capital market,” a stock analyst told myrepublica.com.
Banking -- the key trading group in the secondary market - was the biggest loser of the day with its sub-index dropping by 6.49 points to close at 461.9 points. Similarly, the sub-indices of Development Bank, Finance and Others group also went down to 518.22 points, 479.58 points and 548.7 points losing 5.29 points, 1.11 points and 42.29 points respectively.
Total turnover and number of shares traded also declined to Rs 26.22 million and 61,180 units on Wednesday. A total of 64,816 units of shares worth Rs 28.68 million were traded a day earlier. Total number of transactions also dropped to 963 from 1,223.
Market capitalization -- total worth of listed shares -- also declined to Rs 378.59 billion from Rs 3.87 billion recorded a day earlier.
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