Nepse index ends in negative note

Ending bullish trend of the past few weeks, the index of Nepal stock Exchange (Nepse) ended with a negative note over the week due to decline in share prices of most of the actively trading companies.

The Nepse index registered a fall of 1.18 points over the week, reaching its index to 517.46 points from 518.64 points.

The total turnover was Rs 294.7 million over the week with 584,594 shares being traded.

The commercial banks share prices declined substantially, with the index of the group posting a fall of 3.66 points. Its index, that began at 590.02 points closed at 586.36 points. The others group, experienced a decline of 9.33 points over the week reaching its index at 694.14 points, down from 703.47 points. Development banks witnessed a sharper fall, with its index shedding 12.73 points to 490.91 points from 503.64 points.

However, the insurance group registered a handsome growth of 21.87 points, with its index reaching 469.33 points from 447.46 points. The index of the finance group rose to 328.21 points from 316.45 points.

Likewise, index of the manufacturing group rose 2.53 points with its index reaching to 319.82 points from 317.29 points. The index of trading group increased marginally to 150.09 points from 149.71 points. The index of hotels group remained static at 187.47 points.

The commercial banks group accounted for 51.61 percent of the total turnover. The development banks group came next, taking up 37.64 percent. Finance group had 5.09 percent while the others group constituted 4.48 percent. Insurance group had 1.11 percent.

Market analysts termed the decline as a market correction as the share prices had earlier reached high ground unjustifiably. nepalnews.com pb Dec 31 06

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