Market cap of capital market decreased by around 10 percent in March

National Statistic Office of Mongolia informed that market capitalization of capital market amounted to MNT 2.4 trillion in March, which lowered by around 10 percent or MNT 260 billion comparing to the previous year.

Furthermore, average Top-20 index of MSE fell by around 4 percent from previous month as well as last stock trading of March decreased by 11.1 percent and totaled MNT 16,903.65, which has been the lowest level for last three years.

Considering at the stock trading of March on MSE, share price of listed companies has been declining during the period. In particularly, share price of companies which operate in real estate, mining, construction and light industry sector has fallen the most during the period.

MSE explained that government has restricted movement due to Covid-19 as a result businesses have been interrupted and it is negatively affecting to the local capital market.

However, share price of biggest companies listed on MSE has been raising since April, 2020. For instance, share price of Gobi JSC has risen by 9.9 percent since the beginning of this month and closed at MNT 191 on Monday. The company composed 83 percent of local cashmere market and they ascribed that its target market will be USA, European Union and China this year as well as online sales points of the company will be extended.

As of the first half of this month, share price of Suu JSC increased by 5.3 percent and closed at MNT 191.4. Net profit of the company increased by 37 percent and reached MNT 5.7 billion last year. The company composed 48 percent of domestic dairy products. Also, the company decided to distribute dividend of MNT 1.7 billion or MNT 5 per share for 2019.

Whereas share price of APU JSC sharply fallen by 13.3 percent on March 24, 2020 and its price closed at MNT 536.04 today. Market capitalization of the company totaled MNT 570.4 billion.

Source: bloombergtv.mn