Weekly share update : Nepse continues to tank

Kathmandu, February 2:

Share trading continued to falter with Nepse plunging by a whopping 63.91 points this week. The Nepse closed at 803.69 points on Thursday, the last of trading, against last week’s closing of 867.60 points.

All leading groups except finance companies lost their beat, as the country’s sole secondary market has been undergoing through correction for the last couple of weeks. Development banks, commercial banks, insurance, hydropower and hotels groups are major losers this week, which led to a plunge in Nepse.

The total trading at the Nepse floor dropped by 19.11 per cent to Rs 301.52 million against last week’s trading of Rs 372.7 million. A total of 370,643 units shares were traded through 2,192 transactions.

The Nepse indices of the commercial banks dropped to 785.90 points (-84.26 points), the development banks to 1497.91 points (-61.10 points), the insurance to 820.26 points (-34.01 points), hydropower group to 1184.95 points (-61.42 points) and hotels to 412.79 points (-4.83 points) from Sunday to Thursday.

The lone gainer finance companies registered a 3.08 growth and closed at 921.39 points on Thursday from the opening 918.33 points. Nepse witnessed a continuous fall throughout the week, as it dropped to 837.78 points on the second day and 805.55 points on the third day. The downturn continued on the last day of the trading and closed at 785.90 points.

In terms of monetary value, Nepal SBI Bank, National Hydropower Company, Butwal Power Company, Bank of Kathmandu, and Machhapuchhre Bank are the gainers for this week. Nepal SBI Bank topped the chart in terms of monetary value with Rs 52.69 million and in terms of number of shares traded, National Hydropower Company topped the race as 126,000 units of shares exchanged hands this week.

However, in terms of the number of transaction, Gurkha Development Bank topped the chart with 377 transactions.

Altogether, 55 listed companies’ shares were traded at the Nepse floor, where the government bonds and debenture saw a nil trading this week, too.

A total 67,973 units of bonus shares of Nepal Housing Development and Finance Ltd and another 1.32 million unit bonus shares of NIC Bank Ltd were listed at Nepse for trading from this week.