The market has taken a recovery course in recent weeks following a massive fall in the wake of the devastating earthquake, Tarai turmoil and the unofficial Indian economic blockade. Stock brokers say that the market is gradually improving. News reports about India becoming positive to lift the blockade and agitating Madhesi parties relaxing border-centered protests have raised investors' optimism.
“The market is marching toward the pre-blockade level due to positive media reports,” Narendra Sijapati, former president of Stock Brokers Association of Nepal (SBAN), said. “We can expect the market to go up further if there is improvement in the current political situation.”
Hydropower group was the biggest gainer of the day as its sub-index went up by 68.89 points to close the week at 1,984.72 points. The sub-indices of Others, and Manufacturing and Processing groups ended 23.5 points and 16.3 points higher at 798.88 points and 1,848.71 points. Similarly, the Banking and Hotels sub-indices also rose 8.43 points and 8.41 points, respectively, to settle at 1,042.81 points and 1,714.59 points.
However, Insurance group, which had been logging gains since long, shed 196.12 points this week to close at 5,357.64 points. Trading group also saw its sub-index go down by 12.67 points to close at 198.85 points. Development Bank and Finance sub-indices also fell 4.75 points and 4.39 points, respectively, to end the week at 1,105.03 points and 573.43 points.
A total of 4.05 million units of shares of 151 companies worth Rs 2.55 billion were traded in the market through 21,456 transactions this week. The turnover is 38.91 percent higher compared to last week's figures.
NIC Asia Bank Ltd topped the list of companies in terms of turnover (Rs 291.04 million), while National Hydropower Company Ltd remained at the top of listed companies in terms of number of shares traded (363,000 units). Likewise, Api Power Company topped the league table of companies in terms of number of transactions (3,950).
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