KATHMANDU, Oct 1: Nepal Stock Exchange (Nepse) index climbed up 22.74 points this week to close at 1,753.38 points on Thursday -- the last trading day of the week.
The market had shed 37.57 points last week. Stock brokers say that the market has remained largely volatile. "The benchmark index plunged last week after a long winning streak. The market, however, rallied this week. There is both buying and selling pressure on the trading floor," said a stock broker.
"But the market may be down next week as many investors would have left the capital by the end of next week. There will also be quarter-end pressure for many borrowers as they have to pay installment for the first quarter.”
Most of the trading groups ended in the green zone this week. Hotels group led the gaining side as its sub-index jumped 43.85 points to close at 2,241.96 points. Banking, the heavyweight trading group, also ended 39.96 points higher at 1,672.73 points.
Hydropower group also logged gains of 15.17 points to close at 2,350.88 points. The sub-indices of Finance and Others groups also went up 3.52 points and 3.76 points, respectively, to end the week at 820.52 points and 770.47 points. Manufacturing and Processing group also inched up 1.36 points to close the week at 2,341.59 points. The Insurance sub-index, however, fell by 34.19 points to close at 8,701.47 points.
Development Bank also shed 9.47 points to close at 1,804.11 points. Trading group remained unchanged at 202.79 points.
A total of 5.29 million units of shares of 158 companies worth Rs 4.45 billion were traded in the market this week through 24,794 transactions. The turnover is 21.27 percent lower than last week.
Everest Bank Ltd remained at the top of list of companies in terms of turnover (Rs 530.12 million), while Nabil Balance Fund 1 led the list of companies in terms of number of shares trade. Similarly, Nepal Bangladesh Bank Ltd topped the list of companies in terms of number of transactions (1,987).
According to Nepal Stock Exchange, 5.64 million units of bonus shares of Standard Chartered Bank Nepal Ltd and 742,857 units of Reliance Finance Ltd were listed in the Nepse this week for trading. Similarly, 6.42 million units of rights shares of Prabhu Bank Ltd and 16.86 million units of Citizens Bank International Ltd were also listed in the secondary market for trading.
Nepse rallies 41 points after wild volatility
