The benchmark index had jumped to 966.59 points on Tuesday after political parties sealed a deal on constitution writing on Monday night. But Nepse index started shedding values from Wednesday and ultimately closed at 937.96 points on Thursday. Nepse index had closed at 926.84 points last week.Analysts say the benchmark index fell in the latter trading days of the week as investors rushed to book profit, fearing loss in the coming days. Anjan Raj Paudel, former chairman of Nepal Stock Brokers' Association, said that market slowly went up expecting consensus among the political parties till Monday. "After the benchmark index logged gains on Tuesday, it started falling as traders chose to book profit and market saw selling pressure. The market is on a correction course," added Paudel.
While the benchmark index returned to the pre-quake level last week, it also saw new investors. According to stock brokers, new investors mostly enter market when the market is on bullish trend. But their entry makes the market unstable, according to a stock broker.
A total of 3.98 million units of shares worth Rs 1.62 billion were traded through 10,776 transactions this week. The transaction amount is up by 6.79 percent compared to previous week.
The biggest gainer of the week was Hydropower Group which saw its sub-index go up by 47.46 points to close at 2,144.85 points. Manufacturing and Processing sub-index went up by 40.66 points to close at 1,533.12 points, while the sub-index of Development Bank, Commercial Bank, Others Group and Finance Group increased by 10.26, 9.17, 5.87, and 2.34 points, respectively, to close at 777.68 points, 827.29 points, 723.7 points and 523.08 points.
The Insurance sub-index shed 77.69 percent to close at 3861.85 points, while Trading sub-index was down by 5.91 points to close at 220.54.
Right shares of Everest Finance and Nilgiri Bikash Bank were listed for trading in Nepse this week. Similarly, bonus shares of 11 companies -- Mission Development Bank, Prime Commercial Bank, Swarojgar Laghubitta Bikash Bank, Nagbeli Laghubitta Bikash Bank, Kailash Bikash Bank, United Finance, Ridi Hydropower Development Company, Om Finance, Deprox Laghubitta Bikash Bank, Machhapuchhre Bank, and ICFC Finance -- have also been listed for trading.
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