Stock analysts attribute recent positive political developments for constitution drafting, resumption of economic activities after the devastation of the earthquake, and dividend announcement season as the factors behind growth in the benchmark index.The market, however, did not show much reaction to the budget for Fiscal Year 2015/16 presented by Minister for Finance Ram Sharan Mahat.
"The stock market seems to have rebound from slump seen in the immediate aftermath of the earthquake. The consensus of parties for new constitution, however, boosted the confidence of the investors," a stock broker told Republica. "The newly announced budget had less impact on the market as it lacked programs to elate investors."
He also said the dividend announcement season, which is around the corner, have made investors hopeful of good returns.
Except 'Trading', all groups registered gains this week. Trading shed 7.09 points to close at 202.39 points on Thursday. Hydropower was the biggest gainer of the week with its sub-index jumping up 123.88 points to close at 2,246.11 points. Manufacturing and Processing, and Hotels groups followed the suit, gaining 66.42 points and 45.68 points, respectively, to settle at 1,672.88 points and 1,880.92 points. 'Others' and Insurance groups logged gains of 18.79 points and 17.71 points to close the week at 747.19 points and 4,154.19 points, respectively. The sub-indices of Development Banks and Banking group also went up 16.05 points and 10.76 points, respectively, to end the week at 809.04 points and 831.35 points. Finance group gained 3.09 points to close at 520.3 points.
A total of 3.49 million units of shares of 172 companies worth Rs 1.32 billion were traded in the market through 7,443 transactions.
Prabhu Bank (Promoter) topped the list of companies in terms of turnover (Rs 122.05 million), number of shares traded (814,000 units) and number of transactions (263).
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