WEEKLY WRAP UP (REVIEW PERIOD: 2nd NOV TO 6th NOV, 2014)
ShareSansar, November 7th:
The benchmark index of Nepal Stock Exchange (Nepse) along with its sub-indices witnessed a drastic slump this week amid the failure of political parties in building consensus. The market index shed 25.29 points this week, to close at 904.92 level.
Though many experts had believed the market would gain momentum after the festive season, the prediction proved to be wrong. Brokers believe the ongoing political disputes among the major three parties being one the main reasons for weary market condition and weak confidence of investors.
“The disputes among three major parties regarding sending a consensus document, related to federal model, to Constitution Assembly through Constitutional-Political Dialogue and Consensus Committee has dampened the overall sentiment of market among investors,” says of one the brokers.
Echoing the broker’s voice, one of the investors says, “Looking into the current political scenario in the country, I am holding am cards and waiting for better picture.”
This kind of attitude is found across many of the traders and investors in the market, resulting in such a dismal situation.
Among the sub-groups also, none fared well as all landed on red. Insurance made a triple digit plunge of 178.43 points followed by Hydro, Banking and Others with losses of 67.04 points, 24.16 points and 8.23 points respectively.
Hotels and Manufacturing were other sub-groups with double digit losses of 26.9 points and 22.11 points respectively. As for Finance and Development, they dropped by 12.08 points and 8.84 points respectively.
The market turnover stood at Rs 1.08 billion compared to Rs 999.5 million of prior week.
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MARKET SUMMARY |
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TOP FIVE BY SHARES TRADED |
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SECTOR WISE TURNOVER |
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SUB-INDICES |
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TOP FIVE BROKERS |
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