Nepse adds 25.6 points more in the last week of trading before Dashain

ShareSansar, September 30:

The benchmark index of Nepal Stock Exchange Limited (Nepse) gained impressive of 25.67 point or 2.81 percent this week comprising just three trading days to close at  937.99 level for the Dashain holidays. This is a noticeable growth as compared to the trading last week when the Nepse index had closed at 912.32 level after gaining 12.43 points or 1.38 percent in four trading days.

In a clear indication that the investors have regained confidence following massive fall for a few days over the recent weeks, the only secondary share market of the country remained bullish in all three trading days this week though the market tends to be sluggish during this time of the year. The total turnover was, however, quite low as investors were in the festive mood. Stock analysts say that the market is now catching the bullish trend after some heavy corrections in the market. According to them, the plan to implement the full-fledged CDS, good return of the banks to the shareholders and positive political-economic situation has boosted the morale of the investors.

On the very first day of trading this week, the benchmark index rose 4.31 points to close at 916.63 points. Though the market fell in the first session of the trading, the index started gaining at the latter session. Majority of the trading groups ended in the green zone today. Though Banking and ‘Others’ declined by 2.69 and 3.53 points, sub-indices of rest of the trading groups went up significantly.

By the second day the market went on to post impressive gain of 20.68 points, to close at 937.31 level, as the benchmark index steadily rose throughout the trading hours – propelled by the buying demand. Six out of seven sub-indices posted good growth today while the seventh – the Manufacturing group – remained stagnant.

On the last day (September 30) of trading, Nepse was by and large stagnant, and posted a modest gain of 0.68 points or 0.07 percent. The Banking group shed just 0.48 points, Hotels 49.07 points, Hydropower 50.94 points and Insurance 25.21 points while Development Bank group gained 5.37 points, Finance 0.06 points, Manufacturing 25.74 points and the Others group earned 22.31 points this week.

The total turnover of this week stood at mere Rs 1 arba as compared to the total turnover of more than 1.55 arba last week.