Kathmandu, October 29

Profit-booking in the first part of the week weighed on the country’s only secondary market in the period between October 23 and 27, as the Nepal Stock Exchange (Nepse) index fell by 34.76 points or 1.94 per cent to land at 1,759.71 points.

The Nepse index was at 1,794.47 points when the share market opened for trading on Sunday. By the day’s closing, the benchmark index had dropped by 12.08 points and continued downhill over the next two days — falling 13.5 points on Monday and another 17.89 points on Tuesday.

On Wednesday and Thursday, the local bourse reversed course as investor sentiment improved. However, the limited gain of 2.46 points on Wednesday and 6.25 points on Thursday was insufficient to recoup the loss of the first three days.

In total, 4.93 million shares of 151 companies worth Rs 4.12 billion were traded through 23,626 transactions. The traded amount was 37.05 per cent higher than the preceding week when 17,178 transactions of 3.89 million scrips of 149 firms that amounted to Rs 3.01 billion had been undertaken.

The sensitive index, which gauges the performance of class ‘A’ stocks, fell by 8.09 points or 2.08 per cent to 381.15 points. Likewise, the float index that measures the performance of shares actually traded also dipped by 2.54 points or 1.89 per cent to 131.57 points.

Apart from manufacturing and trading, which remained stationary at 2,308.83 points and 202.79 points, respectively, all the subgroups landed in the red.

Banking, the subgroup with the highest stake in Nepse’s market capitalisation, saw the biggest fall in the week. The sub-index plunged 47.49 points or 2.79 per cent to 1,656.49 points.

Stockholders of Standard Chartered saw the value of their shares plummet by 7.26 per cent to Rs 3,425 and those with scrips of Himalayan saw their share price take a dive of 13.42 per cent to Rs 1,400.

Trailing close behind, hotels was down 57.71 points or 2.46 per cent to 2,289.95 points. The performance of the subgroup was, however, a step up from previous week’s slump of 5.26 per cent.

Even as Taragaon Regency gained 1.14 per cent to Rs 265, Soaltee’s shares took a beating of 3.13 per cent to Rs 433 and Oriental’s was down 1.13 per cent to Rs 524.

Others fell by 10.41 points or 1.34 per cent to 764.1 points as Hydroelectricity Investment and Development Company Ltd (HIDCL)’s stock value dropped by 4.03 per cent to Rs 286 and Nepal Telecom’s share price went down by 0.58 per cent to Rs 690.

Insurance landed at 9,166.9 points in the last trading day, down 120.32 points or 1.29 per cent during the course of the week. Life Insurance Co Nepal lost 1.61 per cent to Rs 3,355 and Rastriya Beema Co fell by 0.04 per cent to Rs 14,400.

Luck of hydropower, the only subgroup to land in the green in the previous week, ran out this time around as the sub-index dropped 29.34 points or 1.23 per cent to 2,346.54 points. Although Sanima Mai went up by 1.88 per cent to Rs 973, Chilime dropped by 0.32 per cent to Rs 1,250 and Api was down 4.41 per cent to Rs 585.

Finance managed to limit its loss to 3.05 points or 0.37 per cent to 817.45 points and development banks shed 3.31 points or 0.18 per cent to rest at 1,831.07 points.

Meanwhile, Machhapuchchhre Bank was the forerunner in all three categories — weekly turnover, trading volume and number of transactions — with 362,000 of its scrips changing hands through 1,792 transactions worth Rs 290.02 million.

The other listed companies in the top five in terms or turnover were Standard Chartered Bank with Rs 277.34 million, Everest Bank with Rs 238.65 million, Shikhar Insurance with Rs 209.61 million and Kumari Bank with Rs 193.30 million.