Weekly share update

Nepse in they love it, love it not scenario
ArthaExpress, 29-Nov-08

Nepal Stock Exchange (Nepse) index this week slid to as low as 698.81 points within the last eight months. However, it rebounded and hovered above the 700-point mark to close at 732.18 points on Thursday, the last day of trading.

The market, in its five-day session, wound up in negative territory for the first three days but in the last two days it closed in the green. Nepse closed at 38.19 points lower to slump to 732.18 points from last week’s closing of 770.37 points.

The secondary market opened in the red, losing 19.86 points on Sunday, the first day of trading in the domestic market. Monday also saw a plunge of 24.04 points to touch 726.47 points. Nepse dipped the lowest in the last eight months to 698.81 points on Tuesday but bounced back by 29.76 points to 728.57 points on Wednesday. It gained another 3.61 points on Thursday to close at 732.18 points.

The major market propellers — commercial banks, development banks, hydropower and insurance companies groups — shed 39.84 points to touch 725.10 points, 28.84 points to touch 1075.59 points, 32.52 points to touch 896.68 points and 9.74 points to touch 771.35 points, respectively, pulling Nespe down.

The sensitive index — the barometer of group A companies — also dipped by 6.21 points to slide to 194.56 points. But the float index — calculated on the basis of real transactions — lost only 3.42 points to slide to 72.18 points.

In terms of monetary value, Bank of Kathmandu (with Rs 52.30 million), NIC Bank (with Rs 44.78 million), Nepal Investment Bank (with Rs 21.82 million), Standard Chartered Bank Nepal (with Rs 19.33 million) and Royal Merchant Banking and Finance (with Rs 19.00 million) were this week’s top scorers.

In terms of number of share units traded, Royal Merchant Banking and Finance topped the chart with 45,000-unit shares while in terms of number of transactions Prabhu Finance topped the chart with 372 transactions.

Machhapuchhre Bank and Sagarmatha Insurance listed their 49,29,907-unit and 2,35,620-unit rights shares at Nepse. Clean Energy Development Bank also started distributing its share certificates and will soon list shares at Nepse.