Stock brokers say that investors’ confidence got a boost from the positive political developments after opposition parties cut short their three-day protest and banda programs after the first day and indicated that they were willing to sit for dialogue to end a stand-off with the governing coalition.
GN Bhusal, Managing Director of Aryatara Investment and Securities Private Ltd, said that Nepse had been under a selling pressure as investors looked to free up some cash and rushed to sell some of their shares. It takes a week to clear payments on share transactions and so investors’ had until Tuesday to sell the shares if they were make interest and installment payments that were due on April 14 (Tuesday of next week). Bhusal says that this put a downward pressure on the index on Tuesday, which was also the day of the banda. The index improved thereafter and was further helped by the positive move by politicians who showed more willingness to get back on the road of drafting the country’s statute.
The markets closed on the opening day of the week at 934.25 points and closed at 946.89 points on Thursday, the last trading day of the week.
Nepse marginally lower in week after last session recovery
The Hydropower sub-index group gained 30.95 points to close at 2,191.14 points and the Hotels group saw an increase of 27.35 points, closing at 1985.42 points.
Likewise, the sub-index of Others group and the Commercial Banks group went up by 16.44 points and 15.29 points respectively, to close the week at 703.73 and 832.27 points respectively. The sub-index of the Manufacturing and Processing group gained 12.6 percent to end 1,494.78 points while the sub-index of the Development Banks group saw a rise of 9.93 points and came to close at 799.64 points.
But the sub-index of the Insurance group plunged by 28.78 to 3,952.96 while sub-index of the Finance group also fell marginally.
A total of 2.41 million units of shares were traded over the week. Shares worth Rs 192.09 million of Nepal Life Insurance were traded, making the company at the top selling one in terms of transaction amount while NIBL Samriddhi Fund-1 topped in the category of units of shares sold in the stock market at 418,000 units. Global IME Bank was in the top position in terms of number of transactions at 427.
