WEEKLY SHARE UPDATE : Bottlers Nepal pushes Nepse up

WEEKLY SHARE UPDATE : Bottlers Nepal pushes Nepse up
ArthaExpress.com, 16-Feb-08

Bottlers Nepal — with a plan to capture 80 per cent of the market share within next two years — pushed the Nepse up this week as it topped the chart with a transaction worth Rs 309.99 million. It also pushed the manufacturing group up by 24.44 points to 385.40 points.

Khetan Group, a prominent business group, has bought 4,29,000-unit shares of Bottlers’ Nepal — the producers and marketeers of multinational softdrink brand Coca Cola in Nepal.

Though the week started on a strong note with 25.88 points growth on Sunday, the first day of the trading, it slowed down on the other days. The Nepse index closed at 795.89 points — a growth of 45.03 points from last week’s closing of 750.86 points — on Thursday, the last day of the trading for the week. For the first three days, Nepse flared but on Wednesday, it dropped by 4.52 points to 809.91 points from Tuesday’s closing of 814.43 points. On Thursday also, Nepse plunged by 14.02 points to close at 795.89 points.

Stocks of Commercial banks, Development banks and Insurance group — the market leaders, except Hydropower group that is still flaring — registered losses this week. Commercial banks group plunged by 17.89 points to 790.62 points. Development bank group was down by a whopping 41.51 points to 1067.31 points. Similarly, Insurance group fell by 5.12 points to 803.36.

However, the sensitive index posted a minimal rise — at the closing on Thursday — of 6.82 points to 204.05 points from Sunday’s 197.23 points. But the market breadth was weak with stocks that were in the red outnumbering those in the positive territory.

Major gainers this week, include Bottlers’ Nepal Ltd with Rs 309.99 million, National Hydropower Company with 82.72 million, Machhapuchhre Bank with 80.69 million, Bank of Kathmandu with Rs 48.49 million and Siddhartha Bank with Rs 34.42 million transactions, according to the Nepse. The five-day transaction at Nepse floor, however, didnot see transaction of bond that is another investment option.