10.94-pt loss pang hits Nepal Stock Exchange
10.94-pt loss pang hits Nepal Stock Exchange
Published: 02:52 pm Feb 07, 2010
KATHMANDU: Nepal Stock Exchange (Nepse) dipped to 501.40 points losing 10.94 points this week -- from January 28 to February 4. Nepse is in bearish trend since September. A further plunge is expected as the regulating agency is silent. Nepse will not revive soon, said financial analyst Rabindra Bhattarai. "Capital injection is needed o reverse the bearish trend," he said adding that the government should promote Nepse which needs millions of rupees in investment. "It is natural," he said commenting on the downswing. The capital market has increased by 54 per cent since 2008 but demand is low. Over supply has resulted in Nepse’s fall. The Nepse trading floor traded Rs 166.14 million of 100 companies in 4,627 transactions this week. Class 'A' companies trade was 54.18 per cent (Rs 90 million) alone in the transaction. All trade groups except hydropower and manufacturing lost this week. Commercial banks, development banks, finance companies and trading sector lost 10.77, 16.17, 9.23 and 4.71 points, respectively. Hydropower and manufacturing sector jumped by 0.08 and 2.86 points, respectively. Standard Chartered Bank topped in transaction amount (Rs 30.43 million) while Vibhor Development Bank topped in units of shares (62,000) and transactions (1,149). Top five traded companies were Standard Chartered Bank (Rs 30.43 million), Vibhor Development Bank (Rs 22.37 million), Bank of Kathmandu (Rs 10.56 million), Nabil Bank (Rs 6.90 milion) and Sunrise Bank (Rs 5.49 million). Ordinary, rights and bonus shares of six companies were listed in Nepse this week. Ordinary shares (2,00,000 units) of Mahakali Development Bank and rights shares (17,32,500 units) of Goodwill Finance were listed. Another listing was bonus shares of Goodwill Finance (59,858 units), NIC Bank (17,10,720 units), Salt Trading Corporation (34,598 units) and Sri Investment and Finance (2,01,600 units).