Nepse sees whopping decline

Nepse sees whopping decline
Nepalnews, 12-Sep-09

Not surprisingly, the books closure of financial institutions dragged the entire Nepal Stock Exchange (Nepse) down by 47.48 points to 614.78 points last week.

Commercial banks, development banks, financial institutions and hydropower companies - key market propellers - nosedived this week, pulling down Nepse by a shocking 55.61 points to 614.79 points from Sunday morning’s opening of 660.40 points.
All the groups except manufacturing group saw a decline in their indices

The hydropower companies group declined by 27.16 points followed by development banks’ group with 25.28 points. The groups representing finance as well as insurance companies saw a decline of 17.98 points each. The group categorized as others witnessed a decline of 11.75 points followed by trading group with 10.46 points.

The sensitive index that measures the transactions of the ‘A’ class companies saw a decline of 16.43 points. There are 78 ‘A’ class companies listed in the Nepse. Nabil Bank topped in terms of turnover with Rs 67.83 million, Standard Finance Company in terms of number of shares traded with 1,35,000-unit shares changing hands and Citizens Bank International topped in terms of number of transactions.

Meanwhile, the transaction amount increased by 40.08 percent to Rs 483.89 million against last week’s fall of 32.63 percent.

The float index - calculated on the basis of real transactions - also slid down by 5.14 points to drop to 58.53 points from Sunday morning’s opening of 63.67 points.