Nepse plunge to almost four year low

Banks and financial institutions pulled the Nepse today to a three year low to 404.43 points from the morning's opening of 407.2 points.

The share holders of the Standard Chartered Bank Nepal and Nabil lost today heavily as the former lost Rs 95 per unit share and latter lost Rs 35 per unit share to bring the banking index down by 3.32 points.

On April 28 this year, Nepse had dipped to 405.45 points but has bounced back to touch 506.35 points on May 30.

The bonus declaration of the banks and finance companies and overflooded securities in the secondary market has pulled the prices of the shares.

Meanwhile, Unilever Nepal's Board of Director yesterday recommended distribution of Rs 560 per unit share as final dividend out of the profit available for appropriation during the year. The Board has also approved distribution of Rs 500 as Interim Dividend per unit share out of the aforementioned final dividend of Rs 560 per share for the year 2009-10, post certification of the audited annual accounts for the year by the statutory auditors.

Similarly, Sanima Bikas Bank's board has also decided to give 10 per cent cash dividend from the profit of 2009-10, which is subject to approval from NRB and its upcoming annual general meeting.

The NMB Bank has also today decided to give 10 per cent bonus share which is subject to approval from NRB and 10 pe rcent cash dividend. It jas posted a profit (before Tax) of Rs 225.9 million and operating profit of Rs 241.5 million -- recording a impressive growth of 154 per cent and 253 per cent, respectively -- compared to a fiscal ago.

Everest Bank, Bank of Kathmandu, Nabil Bank and Standard Chartered Bank Nepal have already declared their cash dividends and bonus shares.