Tuesday, October 6, 2009

StanChart drags Nepse down

Standard Chartered Bank Nepal (SCBN) dragged the Nepse down by 23.69 points to 613.18 points as the bank closed its book for the annual general meeting.
Shareholders of SCBN lost Rs 1,440 per share in a single trading day on Tuesday as the price of its shares dropped to Rs 3,960 per share from Monday's closing of Rs 5,400. Though, 200-unit of bank´s shares changed hands, book close that makes company not handle any transfer of shares requests until benefits - dividends or bonus issues - of the bank on Monday dragged the price sharply.
SCBN -- the blue chip share in the domestic market -- has announced 50 per cent bonus share and Rs 50 per cent as cash dividend.
Sensitive index -- an indicator of trading of Class A category companies -- shed 8.61 points and the banking sub-group lost a whopping 39.28 points to drop at 604.24 points.

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