The stock market had shed 68 points in the first week of trading after the earthquake. It had logged gains of another 30 points last week.
The benchmark index at one time climbed to 937 points, the level reached before the earthquake of April 25, on Thursday before retreating to 926.48 points."Three weeks after the resumption of trading following the earthquake, the market is in a stable situation," Anjan Raj Paudel, former president of Stock Broker's Association of Nepal, said, adding that trading of shares of non-life insurance companies, micro-finance and hotels have returned to normal level.
Average daily turnover also crossed Rs 200 million this week.
According to Paudel, news reports of political parties inching closer to consensus on constitution drafting and improving investors' confidence is pushing the benchmark index upward.
Analysts, however, say the market might see some corrections next week as investors, who had purchased shares at low price in the first week of trading after the quake, might look to book profit
A total of 3.19 million units of shares of 147 companies worth Rs 1.29 billion were traded in the secondary market this week. The turnover amount recorded a rise of 73.36 percent compared to figures of last week.
Insurance group was the biggest gainer of the week as its sub-index gained a whopping 373.63 points to close at 3,929.99. Similarly, the Hydropower sub-index went up by 144.11 points to close the week's trading at 2093.03. Commercial and Others sub-indices were up 56.13 and 41.11 points, respectively, to close at 809.68 and 728.4 points. Trading, Development Bank and Finance sub-indices also finished the week on green zone, gaining 21.87, 16.91 and 2.88 points, respectively, to close the week at 229.83, 764.75 and 520.15 points.
Hotels sub-index, however, shed 84.06 and closed at 1,859.56 points. The Manufacturing sub-index lost a marginal 0.23 points to settle at 1,492.46 points.
A total of 50 million units of shares of Laxmi Value Fund were listed for trading at Nepse this week.
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