Nepse back to bearish trend‚ lose 11 points
KATHMANDU, NOV 13:
Last week’s overwhelming surge of 15 points became one hit wonder as the market back to bearish by 11 points this week -November 6 to 10.
Political parties’ consensus on pursuit of peace process on November 1 had seemed to react favourably as the index soared by more than 15 points. However, the market did not react in the line of last Wednesday’s surge unlike expectation as index started slipping.
On Sunday morning the stock market opened at 343.55 points that went a down to 337.91 points by the end of the day’s trading. Another day passed with the index going down to 334.76 points on Monday. The market continued its slide as the index lost further more points on remaining two days. By the end of the trading week, the index went reached 331.78 points.
This week Nepse witnessed 728,046 unit shares amounting to Rs 125.2 million of 118 companies being traded through 6599 transactions in four trading days. This is 5.86 per cent increment in trading volume as compared to that of last week when the market had witnessed transaction worth more than Rs 118 million. Among the total transactions, the trading of blue chip stocks belonging to class ‘A’ companies consisted of 39.60 per cent amounting to Rs 49.5 million. The sensitive index that measures performance of Class ‘A’ companies registered loss of 3.03 points reaching 81.92 points on the week’s trading. The float index that indicates the performance of the actual shares traded throughout the week moved down by 1.01 points to 26.96 points.
This week, all of the subgroups insurance and hotels were the only subgroups that registered gain while other subgroups ended up in red. Hotels earned 3.58 points while insurance went up by 6.93 points in the week’s trading.
The biggest loser of the week was others subgroup with the loss of 22.32 points as Nepal Telecom’s share price plunged by Rs 19. The major banks incurred loss in their share prices pulling the banking subgroup by 14.62 points.
Hydropowers, development banks and finance companies also lost 8.22 points, 3.06 points and 1.4 points, respectively in the week’s trading. Himalayan Distillery was forerunner both in terms of transaction amount and number of shares traded with trading of 217,480 unit shares worth Rs 21.7 million. Gurans Life Insurance was forerunner in terms of number of transactions with 1242. The top five performers of the week are Himalayan Distillery (Rs 21.72 million), Bank of Kathmandu (Rs 9.01 million), Standard Chartered (Rs 5.99 million), and Gurans Life Insurance (Rs 5.81 million) and Chilime Hydropower (Rs 5.28 million).
Source: THT
