Nepse drops 1.14 pts; settles at 408.44
KATHMANDU, SEP 09 -
The Nepal Stock Exchange continued to remain firm over 400 points mark, with the benchmark index closing the week at 408.44 points — down 3.43 points. The sensitive index that measures transactions of ‘A’ class companies saw a downfall of 1.14 points.
The Nepse surged by 6.05 points to reach 411.87 points on Sunday, the opening day. But it posted consecutive losses in the following three days before gaining a point on Thursday, the last trading day of the week.
Ever since the government took measures, including allowing banks and financial institutions to provide share purchase loans, the stock market has gained stability. “As the market is already at its low ebb, there are no definite reasons for the market to go further down,” said Sambhu Pant, spokesperson for Nepse. “But there is no cheering news as well.”
Last week’s fall in the benchmark index was led by commercial banks and others, with their sub indices dropping 4.04 and 17.62 points, respectively. Finance companies and development banks also posted losses. The group representing insurance companies was last week’s biggest gainer (up 32.46 points), followed by manufacturing (up 17.95 points) and hotels (up 11.83 points).
The hydropower group also gained points last week, while the trading group saw no change in its index.
Last week, a total of 1.3 million shares worth Rs 341.81 million were traded 8,647 times on the exchange. The turnover was 6.44 percent less than the previous week’s figure.
Chilime Hydropower Company topped the chart in terms of turnover (Rs 29.9 million) and the number of shares traded (29,542). The company also posted the highest
number of transactions. Bonus and rights shares of Tribeni Development Bank were listed on the Nepse last week.
Posted on: 2012-09-09 09:10