Commenting on the index´s movement, Anjan Raj Poudyal, former president of Stock Brokers´ Association of Nepal, said the benchmark index saw a marginal drop over the week. “The turnover, however, has remained steady,” added Poudyal. He described the drop in the benchmark index as ´market correction´ after steady growth in previous weeks.[break]
According to Nepse, a total of 6.28 million units of shares of 141 companies worth Rs 2.97 billion were traded through 9,400 transactions this week. The transaction included sale of promoters´ share worth Rs 866.18 million of Nepal Bangladesh Bank.
Last week, shares worth Rs 872.1 million had exchanged hands through 8,234 transactions. Hydropower group, which had gained a staggering 98.22 points last week, became the biggest loser of the week, as its sub-index went down by 39.32 to 1274.67 points. Others and Commercial Banks group finished second and third in the league table, losing 15.27 and 3.69 points, respectively, to settle at 669.68 and 527.66 points. The sub-index of Development banks group was down 3.44 points to 276.69 points.
However, the sub-indices of Insurance and Hotel groups went up this week, gaining 6.75 and 4.51 points, respectively, settle at to 1,238.24 and 673.63 points. The sub-indices of Finance and Trading group also moved in the green territory, gaining 2.91 and 0.40 points to close at 265.91 and 172.64 points, respectively. The Manufacturing sub-index remained unchanged this week.
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