Trading of HBL shares began Monday after seven days due to its book closure. A total of 100 units HBL shares were traded at Rs 1,000 per unit on Monday, down from Rs 1,459 per unit recorded on the day of book closure.
Commenting on the sharp decline in Nepse index, Nanda Kishore Mundada, president of Nepal Stock Brokers´ Association, said the decline was mainly caused by the decline in share prices of HBL amid rising speculation over the entrance of a huge number of promoters´ shares in secondary market.
“Speculation over the arrival of additional promoters´ shares in the market is deterring investors from putting money in the stocks, pushing Nepse further down in recent days,” Mundada said. He also said the benchmark index would continue go down unless the issues surrounding the arrival of promoters´ shares in secondary market are settled.
All trading groups, except the Insurance group, lost their sub-indices on Monday´s trading. Banking, a dominant group in the secondary market, lost a whopping 3.59 percent or 19.36 points to settle at 519.5 points. Similarly, the sub-indices of Trading and Development groups shed 9.85 and 6.87 points to close at 256.24 and 617.52 points respectively. The sub-indices of Hydropower, Finance and Others group lost 16.7, 3.14 and 4.7 points to close at 797.47, 591.94 and 598.09 points respectively.
A total of 76,703 units of shares and 56 scrips worth Rs 42.93 million changed hands through 927 transactions on Monday´s trading. Total market capitalization, the total worth of shares, reached Rs 401.74 billion.
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