KATHMANDU, Sept 10: Nepal Stock Exchange (Nepse) index went up 3.22 points this week to close at 1,823.05 points on Thursday -- the last trading day of the week. 

After seeing correction for few weeks, when investors rushed to book profit, the market again started upward journey. While the benchmark index climbed up on the first trading day, it went down on subsequent trading days. 

"There was some volatility in the market few weeks ago as many investors thought that time was ripe to book profit. Some comments from the officials of Securities Board of Nepal (Sebon) -- the capital market regulator -- also helped to drive the market downward,” a stockbroker, who preferred anonymity as he did not want to be named while commenting about Sebon's move, said.

"Sebon's decision to form a committee to investigate into flow of illicit money into the secondary market scared some investors who immediately sold their securities. Now that has backtracked from its position, investors believe that share prices will go up.”

Many analysts also think that recent financial results of the bank and financial institutions (BFIs) as well as insurance companies, which show that they have made impressive profit in Fiscal Year 2015/16, is also boosting investors' confidence. "Most companies have made good profit which means they will give handsome dividend this year," said the stockbroker. 

Insurance group was the biggest mover of the week, as its sub-index gained 82.76 points to close at 8,945.35 points. Hydropower group followed suit with its sub-index logging gains of 66.72 points to end the week at 2,435.38 points.  The sub-indices of Hotels and Development Bank also went up 24.1 points and 4.08 points, respectively, to settle at 2,207.42 points and 1,894.35 points. 'Others' and Finance groups also inched up 0.57 point and 0.53 point to finish at 785.21 points and 847.99 points, respectively.

Manufacturing and Processing, and Banking groups, however, ended 57.21 points and 2.13 points lower, respectively, at 2,489.88 points and 1,747.19 points. 'Trading' group remained unchanged at 202.79 points. 

A total of 1.02 billion units of shares of 163 companies worth Rs 8.52 billion were traded in the market this week through 41,805 transactions. The turnover is 23.33 percent higher compared to last week. 

Rights shares of NIC Asia Bank Ltd, and bonus shares of Namaste Bittiya Sanstha Ltd, ICFC Finance Company Ltd, Himalayan General Insurance Company Ltd and Kalinchowk Development Bank Ltd were listed in the market for trading this week.

 
• nepal stock exchange
 
• index
 
• 3.22 points
 
• securities board of nepal
 
• bank and financial institutions