Commenting on Nepse index´s movement over the week, Narendra Raj Sijapati, president of Stock Brokers´ Association Nepal, said the effect of the approaching festive season has been reflected in the stock market. “The market remained largely stable this week as investors were drawn toward the Initial Public Offering (IPO) of Sanima Mai Hydropower and Kalika Micro Credit Development Bank this week,” he added. [break]
Stock analysts say the secondary market won´t see any major fluctuation before the Dashain festival. “However, political developments might make some impacts on the index,” added Sijapati.
According to Nepse, a total of 2.05 million units of shares of 132 companies worth Rs 546.08 million were traded through 8,026 transactions this week. Last week, shares worth Rs 587.93 million had exchanged hands through 8,181 transactions. Total transaction amount this week I down 7.12 percent compared to the previous week.
Hydropower and Hotel groups were the major gainers this week. The sub-indices of Hydropower group and Hotel group went up by 39.78 points and 29.90 points, respectively, to 1306.76 points and 733.08 points.
According to Sijapati, the Hydropower sub-index logged impressive gains due to book closure of Chilime Hydropower Company this week.
Likewise, the sub-indices of Finance and Development Bank groups also moved into the green trajectory, gained 0.96 and 0.27 points to close at 264.52 and 276.60 points respectively. However, the Insurance and Manufacturing sub-index shed 18.71 points and 18.49 points, respectively, to close at 1,304.61 and 856.59 points.
Insurance group had gained 60.19 points in the previous week.
Similarly, the sub-indices of Others and Commercial Banks groups were down 3.52 points and 0.18 points to settle at 659.11 and 516.41, respectively. Trading group remained unchanged over the week.
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