Nepse dips 5.28 points
KATHMANDU: About 10 million unit shares were added in the stock market in the demand starved market as the index continued its dismal performance with slump of 5.28 points, this week -October 16 to 20.
The secondary market is already oversupplied with shares as there are about 14.1 trillion unit shares and debentures listed in the stock exchange. The more number of shares at the time of waning demand translates as further plunge in share prices.
Ordinary shares of Hama Merchant Finance, Multipurpose Finance, Muktinath Bikas Bank, Shine Development Bank and Shangrila Development Bank were listed in the stock market this week with additional half a million unit right share of General Finance.This week Nepse witnessed 1.53 million unit shares of 112 companies changing hands through 6,488 transactions in the five trading days.
This is 354.37 per cent increment in trading volume as compared to that of last due to bulk transactions of two hydropower companies -National Hydroppower and Chilime Hydropower. Among the total transactions, the trading of blue chip stocks belonging to class ‘A’ companies consisted of 43.28 per cent amounting to Rs 81.5 million. The sensitive index that measures performance of Class ‘A’ companies went up by 1.59 points reaching 80.88 points on the week’s trading. The float index that indicates the performance of the actual shares traded throughout the week moved down by 0.49 points.
On Sunday the stock market opened at 333.47 points but at the end of the week the benchmark index down to 328.19 points.
This week, except for others and hydropower subgroups all other subgroups ended up in red zone. Hydropower subgroup earned 34.27 points as National Hydropower and Chilime Hydropower’s bulk amounts were traded at higher price. Others subgroup also gained 2.34 points.
Banking Subgroup headed the losers’ pack with the loss of 10.58 points followed by insurance that lost 7.84 points. Hotels subgroup went down by 1.89 points. Finance companies and development banks also lost 1.58 points and 0.74 points, respectively.
National Hydropower was forerunner both in terms of transaction amount and number of shares traded with trading of 913,730 unit shares worth Rs 56.8 million. Araniko Development Bank was fore runner in terms of number of transactions with 416 transactions.
Source: THT
