Share analysts said the benchmark index went down to correct the previous gains recorded last week that was aimed at avoiding margin to be called by banks. Banks generally announce lower margin call to investors if share prices dropped in the market. [break]
Banking group was the highest loser on the day with its sub-index dropping a whooping 15.66 points to close at 441.27 points. The loss in the Banking group was contributed by a decline of Rs 139 and Rs 326 in share prices of Everest Bank and Standard Chartered Bank respectively.
Similarly, Development Bank and Hydropower groups also witnessed their sub-indices tumble by 0.94 points and 2.84 points to close at 477.59 points and 878.16 points respectively.
In the same note, the sub-indices of Finance, Insurance and Others groups also dropped by 0.25 points, 0.94 points and 2.35 points to close at 397.13 points, 547.58 points and 538.13 points respectively.
Total turnover on the day was recorded at Rs 13.19 million with 43,042 units of shares and 54 Scrips changing hands through 580 transactions. Total market capitalization -- total worth of listed shares in the secondary market -- was recorded at Rs 369.61 billion.
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