Nepse ends week 3.51 points lowerNepal Stock Exchange (Nepse) last week lost dipped 3.51 points to close at 1,216.11 points.
Nepal Stock Exchange (Nepse) last week lost dipped 3.51 points to close at 1,216.11 points.
The market that opened at 1,219.62 points on Sunday rose to its all-time high of 1,222.43 points on Monday
before losing points for rest of the
week. The week’s biggest fall came on Tuesday, when the benchmark index lost 4.04 points.
Stockbrokers termed the drop in the index “market correction after heavy rise”. “It is normal for the market to drop after surging to record highs,” said Megh Nath Upadhyaya, managing director of Primo Securities.
He said almost all indicators were positive. “Banks have been offering loans against shares at low interest rates and investor confidence is
rising, which will push the market further higher in the coming days,” Upadhyaya said.
Parmeshwor Bhakta Malla, managing director of Malla & Malla Stock Broking Company, echoed Upadhyaya. “As the transaction has fallen lately, the market correction could continue for the next few days before the market gains stability,” he said.
Of the nine trading groups, only three posted gains. The group representing manufacturing companies (up 51.27 points) was the top gainer, followed by development banks and finance companies.Insurance companies’ group (down 40.85 points) led the losers’ side, including hydropower companies, hotels, others and commercial banks. The trading group remained stable at 201.38 points.
The sensitive index that measures the performance of ‘A’ class companies lost 0.66 points to close at 261.58 points.
The overall market transaction dropped 12.68 percent to Rs2.18 billion, while the number of shares traded came down to 3,444,117 from 3,758,610 units.
Sanima Bank topped in terms of both transaction volume (Rs136.7 million) and number of shares traded (190,000 units).
Meanwhile, the exchange listed 300,000 bonus shares of First Microfinance Development Bank and 510,988 primary shares of Shikhar Insurance.