Kathmandu, November 15:

Nepal Stock Exchange (Nepse) index continued its downward spiral to lose 25.69 points this week and close at 806.90 points compared to last week’s closing mark of 832.59 points, casting a pall of gloom over the market.

Unlike other weeks, this week of the regular five-day session Nepse closed two in green and three in the red.

Nepse opened in the red on Sunday and lost 21.78 points to close at 810.81 points. It dropped to as low as 779.78 points on Monday but jumped back to 802.11 points on Tuesday.

On Wednesday also, Nepse gained 13.52 points but closed at 806.90 points, 8.73 points below Wednesday’s closing.

In terms of monetary value, Nepal Bangladesh Bank (with Rs 43.14 million), Bank of Kathmandu (with Rs 41.76 million), Standard Chartered Bank Nepal Ltd (with Rs 37.02 million), Nepal Investment Bank (with Rs 32.49 million) and Nabil Bank (with Rs 30.93 million) were this week’s top performers.

In terms of number of shares transacted, Malika Bikas Bank topped the chart with 55,000-unit shares transacted.

In terms of number of

transactions, Nepal Bangladesh Bank hit the high spot with 331 transactions.

The market propellers — commercial and development banks, finance companies and insurance groups — also demonstrated a mixed performance this week and barely managed to keep Nepse afloat. Nepse’s 800-point mark seems to be the lowest for it, currently.

In general, experts have claimed that there is a concentration risk in the only secondary market that is dominated by financial institutions. The real sector has negligible share in the Nepse, and that is making it even more vulnerable.

Addressing an interaction on ‘Empowering Stock Market Investors,’ organised today by the National Investors’ Protection Forum, Nepal Bankers’ Association president Radhesh Pant said that the investors needed to be educated. “They should invest only after considering the future prospects of the company,” he suggested.

Dr Chiranjivi Nepal, chairman of the regulatory authority of capital, also urged the investors to be careful and not act in haste. “The Securities Board of Nepal has brought in various regulations to protect investors,” he said adding, “But, enforcement

is the key.”

Meanwhile, Nepse also organised an interaction programme between listed companies and share brokers to solve the problem of immediate share certificate transfers. There have been frequent complaints that share registrars delay the share certificate transfer process.