The index gained 6.5 points — one per cent — on the week’s trading, following last week’s never-seen-before jump.
Last week, the index crossed 700 points with a recorded jump of almost nine per cent. Profit booking by investors, however, constrained the share prices. To take advantage of the high stock prices, investors offered more shares for sale which started to bring the prices down.
This week, the market sentiment remained unstable which was reflected in the benchmark index’s movement. On Sunday afternoon, the market opened at 707.12 points, which reached 702.20 points by the time the market closed, due to the selling pressure. The next day, the share prices inched up a bit. However, on Tuesday the index slipped below 700 points. The decline in share prices once again increased buying pressure in the market, and the index reached 710.47 points on Wednesday, and kept moving up till Thursday closing when it rested at 713.62 points.
This week, the stock exchange’s floor witnessed trading of 6.4 million units of shares worth Rs 1.98 billion of 148 companies in 14,223 transactions. The transaction volume this week declined by 17 per cent in comparison to last week.
Share trading of blue chip stocks belonging to class ‘A’ companies comprised of 53.13 per cent of total transaction, amounting to Rs 1.05 billion. The sensitive index that shows the performance of class ‘A’ stocks increased by 1.98 points. Likewise, the float index that measures the performance of shares actually traded also went up by 0.52 points to 48.23 points.
This week, except for banking, hydropower and finance companies, rest of the subgroups ended up in the red. The banking subgroup increased by 22.98 points, as Laxmi Bank and Nepal Investment Bank earned Rs 50 and Rs 53 per unit, respectively, among others. The hydropower subgroup also went up by 4.27 points and finance companies registered a gain of 6.51 points.
The insurance subgroup was the biggest loser of the week and went down by 105.77 points. Share prices of companies such as NLG Insurance, Sagarmatha Insurance and Nepal Life Insurance declined by Rs 45, Rs 175 and Rs 60, respectively.
Hotels registered a loss of 35.12 points as shares of Soaltee Hotel and Oriental Hotel went down by Rs 14 and Rs 25, respectively. Manufacturing also recorded a loss of 10.89 points as Unilever lost Rs 210 per unit. Likewise, Nepal Telecom’s share price dipped by Rs 20 bringing the others subgroup down by 23.49 points. Indices of development banks and trading also lost 5.23 points and 2.11 points.
This week, Kist Bank topped the charts in terms of transaction volume and number of shares
traded with trading of 1.25 million unit shares worth Rs 222 million. Mega Bank Nepal topped in terms of number of transactions with 1197 transactions.
Top five firms this week in terms of transaction volume were Kist Bank (Rs 222 million),
Nepal Bangladesh Bank (Rs 146.23 million), Sanima Bank (Rs 87.26 million), Kumari Bank (Rs 86.81 million) and Nepal Bank Ltd (Rs 75.14 million). -THT
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