Weekly share update : Nepse continues on corrective path

Kathmandu, February 23:

Secondary market continued to correct itself this week too, as the Nepse recorded a fall of 37.42 points from last week’s closing.

During the four-day long trading sessions this week, three sessions ended in negative and only one session on Thursday recovering, albeit marginally by 2.03 points. Nepse index lost 37.42 points to end at 758.47 points on Thursday, the last day of trading for the week from the last week’s closing of 795.89 points.

The week started in negative by plunging 25.97 points on Sunday. On Monday, it lost 12.84 points to record 757.08 points from Sunday’s closing of 769.92 points. Nepse continued to dip on Wednesday, however on Thursday, the last day of the trading, it tried to recover by gaining 2.03 points to 758.47 points from Wednesday’s 756.44 points.

Manufacturing stocks gained this week too by 4.76 points to post 390.16 points from the opening of 385.40 points on Sunday, according to the Nepse. Similarly, Development banks and Finance company groups also recorded 35.36 points and 10.74 points to 1083.01 points and 964.41 points, respectively.

However, the market propellers, Commercial banks and Hydropower group, lost by 17.52 points and 37.35 points to 738.35 points and 1187.48 points, respectively. The sensitive index also lost by 3.30 points to 193.27 points from the opening of 196.57 on Sunday, according to the Nepse.

This week, Nepse saw transaction of 70 companies, where National Hydropower topped the chart in terms of transaction amount with Rs 45.72 million and 1,43,000 units of shares. Similarly, ICFC financial institution topped in terms of number of transaction with 608 transactions. National Hydropower (with Rs 45.72 million), Bank of Kathmandu (with Rs 41.06 million), Lumbini Bank (with Rs 31.64 million), Kumari Bank (with Rs 21.71 million) and Standard Chartered Bank (with Rs 19.67 million) became the top gainers for this week.