Market Watch, Stock News

SCB Book Closure & Shrinking Cash Dividends Hits hard on NEPSE

Published by Octron on October 7, 2009

The book closure of SCB for Bonus Share and Dividend on Oct 06th, 2009 hit very hard on the NEPSE Index. On 06th Oct, 2009 there was just one transaction of SCB at Rs. 3,960 (-28%). Today, on 7th Oct 2009 the price went down further 10% from previous day price to Rs. 3564. When a major bank price falls down, it hits hardly on the overall NEPSE INDEX, today reaching 606.98 points. The current price of SCB might be one of the lowest in many years in its stock price trend, which once touched Rs. 9000.

The similar picture was seen when NABIL book closed. On the first day itself, NABIL price was slashed down by nearly 40%. After that the simultaneous annoucement of disappointing dividends by major banks just pushed downt he index further and further down.

Recent Cash Dividends Annouced this year by commercial banks;