The benchmark index, which opened at 423.53 points on Sunday, added 0.91 point over the week to end at 424.44 points on Thursday -- the last trading day of the week.[break]
The index got a lift - though nominal - as share prices of major commercial banks, like Standard Chartered, Nabil and Everest, ended higher. Over the week, stocks of Standard Chartered Bank Nepal gained Rs 25 and closed at Rs 1,725 on Thursday. Nabil Bank, another heavyweight category ´A´ financial institution, also added Rs 10 to its share value to end at Rs 1,135 for the week. And share prices of Everest Bank closed at Rs 1,129 over the week, up Rs 13. These contributions raised the banking sub-index by 4.22 points to 355.41 points during the week.
Slight fluctuation in banking sub-index causes the benchmark index to rise or fall, as commercial banks contribute to over 50 percent of the total market capitalization.
Over the week, stocks of insurance and finance companies also ended higher. However, gains posted by these companies were watered down by losses made by shares of stock market heavyweight -- Nepal Telecom. The state-backed telecom operator lost Rs 10 in share value over the week to close at Rs 650. Stock prices of hydropower companies and development banks also fell during the week.
Despite the lethargic performance of listed companies, share trading amount increased by 43.35 percent over the week to Rs 435.50 million,
Nepse´s weekly report shows shares of Machhapuchchhre Bank were traded the most over the week, with transaction amount ticking Rs 117.11 million.
Everest Bank came in second with share transaction amount standing at Rs 33.81 million during the week. They were followed by Nepal Telecom, which saw share trading of Rs 28.25 million over the week.
Transactions at Nepse are at low ebb lately as many investors are not showing interest in the stock market these days because of end of the dividend declaration season.
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