Weekly share update : Nepse rebounces, rises 34.87 pts

Kathmandu, May 10:

Nepali equities market this week bounced back after a long spell of bearish trend as Nepse recorded a growth of 34.87 points to 771.33 points from last week’s closing of 736.46 points.

The sensitive index posted 9.98 points growth to 203.48 points from Sunday’s closing of 193.50 points. The secondary market ended in the green zone on four of the five-day trading, loosing only one day on Thursday by 5.64 points to close at 771.33 points from Wednesday’s closing of 776.97 points. On Sunday, Nepse surged by 3.72 points to 740.18 points from last week’s closing of 736.46 points. Similarly, on Monday it posted a growth of 8.74 points to 748.92 points. On Tuesday, it recorded a growth of 19.01 points to 767.93 points. However, it slowed down on Wednesday and posted only 9.04 points to 776.97 points. On Thursday, the last day of the weekly trading, it plunged by 5.64 points to close at 771.33 points.

In terms of monetary value Nepal Bangladesh Bank (with Rs 77.48 million), Bank of Kathmandu (with Rs 48.40 million), Standard Chartered Bank, Nepal (with Rs 43.97 million), Birgunj Finance (with Rs 34.40 million) and Chilime Hydropower (with Rs 27.97 million) are this week’s toppers.

Nepal Bangladesh Bank also topped the chart in terms of numbers of share units traded with 1,27,000-unit of its shares being traded this week. ICFC Finance Co topped the chart in terms of number transaction with 900 transactions.

Finance company and hotel groups ended in the negative territory. Hotel group lost 2.47 points to 400.47 points from last week’s closing of 402.83 points. The finance company group closed at 938.27 points on Thursday from Sunday’s closing. Commercial bank group registered 41.31 points growth to 777.49 from Sunday’s closing. Similarly, development bank group also posted a healthy growth of 101.20 points to 1037.59 points from the Sunday’s closing. Insurance and hydropower groups have also posted 16.06 points (to 749.60 points from last week’s closing of 733.54 points) and 11.02 points (to 1046.05 points from last week’s closing of 1035.03 points), respectively.

Nepse barred share trading of eight financial institutions this week until further notice as they have announced merger but do not yet have Letter of Intent from the central bank.