Investors have attributed the rise to positive political developments. “Recent developments suggest political parties are inching closer to resuming dialogue to end the impasse. This has boosted investors’ confidence,” a stock broker told Republica. “Also the performance of listed companies, particularly banks and financial institutions, has remained impressive. This has also helped to lift the benchmark index.”
Most of the trading groups registered gains this week. Hydropower group was the biggest gainer of the week as its sub-index jumped by 27.91 points to close at 2,244.99 points. Banking, the heavyweight group of the market, also went up 10.4 points to close at 856.68 points.
Nepse marginally lower in week after last session recovery
The sub-indices of ‘Trading’ and Finance groups were also up 5.85 points and 5.6 points, respectively, to close at 196.93 points and 540.1 points. Development Bank, Manufacturing and Processing and ‘Others’ sub-indices inched up by 5.47 points, 1.39 points and 1.17 points to end the week at 825.65, 1,441.18 and 747.19 points, respectively.
Hotels and Insurance groups, however, shed 8.17 points and 6.08 points, respectively, to settle at 2,069.23 points and 4,324.45 points.
A total of 2.68 million units of shares of 172 companies worth Rs 922.58 million were traded in the market this week through 7,021 transactions. Total weekly turnover went down by 33.74 percent compared to the amount recorded last week. Brokers attributed drop in weekly turnover to the initial public offerings (IPOs) of Upper Tamakoshi Hydropower Project, Barun Hydropower Project and Janautthan Samudayik Laghubitta Bikas Ltd (JSLBL) launched this week.
