Kathmandu, November 2

The secondary market dipped when it reopened after the Tihar festival as share investors are still in festive mood.

“The market had opened only as a formality on Thursday after Tihar,” opined Uttam Aryal, chairperson of Investors Association of Nepal.

According to him, investors are not too keen to invest in the secondary market at the moment owing to lack of conducive environment.

“We are planning to push our agendas with the government and hope that our concerns related to the share market will be addressed without further delay. It seems investor confidence will get a boost only after a solution is reached through discussions with the government,” Aryal added.

Nepal Stock Exchange (Nepse) index slipped by 0.27 per cent or 3.17 points to 1,146.17 points in the review week. Float index shed 0.35 per cent or 0.30 point to 84.92 points.

However, sensitive index inched up by 0.08 per cent or 0.02 point to 252.08 points.

The share market had recorded transactions worth Rs 254.31 million on Thursday.

The amount was, nevertheless, better than the average daily turnover of Rs 186.88 million in the previous week.

In the review week, manufacturing, others, hotels and development bank sub-indices landed in the green zone. However, trading subgroup did not witness any transaction and held steady at 290.23 points.

The manufacturing subgroup ascended by 0.57 per cent or 13.96 points to 2,427.97 points. Others sub-index increased by 0.39 per cent or 2.51 points to 651.91 points. Likewise, hotels went up by 0.38 per cent or 6.99 points to 1,821.34 points and development banks subgroup was up 0.12 per cent or 1.97 points to 1,564.94 points.

Mutual funds was the biggest loser of the week, down 2.35 per cent or 0.22 points to 9.10 points.

Similarly, non-life insurance subgroup went down by 0.94 per cent or 39.98 points to 4,179.21 points and hydropower fell by 0.89 per cent or 8.55 points to 949.23 points.

Life insurance subgroup descended by 0.55 per cent or 28.46 points to 5,064.59 points and finance sub-index dipped by 0.40 per cent or 2.32 points to 573.98 points. Similarly, microfinance subgroup went down by 0.35 per cent or 5.16 points to 1,469 points and banking sub-index shed 0.33 per cent or 3.49 points to rest at 1,053.18 points.

In the review week, Prime Commercial Bank (Promoter Share) was the leader in terms of weekly turnover with Rs 60.30 million. It was followed by Mega Bank Nepal with Rs 22.28 million, Prabhu Bank with Rs 17.20 million, NIC Asia Bank with Rs 11.96 million and Siddhartha Bank with Rs 7.32 million.

In terms of weekly trading volume, Mega Bank Nepal was the forerunner with 110,000 of its shares changing hands. It was followed by Prabhu Bank with 64,000 shares, NCC Bank with 30,000 shares, NIC Asia Bank with 29,000 shares and Citizens Bank International with 27,000 shares.

Meanwhile, Mega Bank Nepal also topped the chart in terms of number of transactions with 273 transactions. It was followed by Rashuwagadhi Hydropower with 264, Prabhu Bank with 164, Sanjen Jalavidhyut with 149 and NIC Asia Bank with 98 transactions.