Nepse index crosses 400-points; posts 1.42 points growth

With the country moving towards peace and stability, the index of Nepal Stock Exchange, the sole secondary market of the country, is moving towards positive direction.

The Nepse index crossed the 400-point mark over the week after seven years.

According to market experts, the Nepse will also see some improvement in the days ahead if the political situation of the country moves towards peace and stability.

The Nepse index posted a growth of 1.42 points over the week due to price stability in the share prices of commercial banks. The stock market however opened only for a day.

All the days under the regular lot in the Nepse floor remained closed due to Tihar holidays and it opened only for a day on Thursday.

The index had registered a rise of 0.43 point in the pervious week.

The share trading began with 399.65 points and touched 401.07 points when the market closed the same day.

According to the Nepse, 24,892 unit shares worth Rs 13.6 million were traded over the week as compared to 210,575 unit shares worth over Rs 102.4 million of the previous week.

The weekly trading report shows that out of the eight groups, three groups, including the leading commercial banks registered growth, while development banks group lost and four groups remained constant.

The commercial banks group registered a growth of 0.99 points reaching its index to 450.47 points from the opening 449.48 points.

Likewise, the finance group gained 0.18 points as its index touched 274.54 points up from 274.36 points. The other group posted a rise of 1.87 points, reaching its index to 431.14 points from the opening 429.27 points.

The development banks group, the sole loser of the week posted a loss of 0.54 points reaching its index to 320.95 points down from the opening of 321.49 points.

The Nepse indices of the manufacturing, hotel, trading and the insurance groups remained unchanged at 313.68 points, 179.03 points, 149.66 points and 394.58 points respectively.

The commercial banks group dominated the Nepse floor by capturing 82.88 percent of the total share transaction. The finance group followed it and stood second with 6.64 percent, while the other group captured 5.84 percent share in the total trading. The insurance group cornered 4.20 percent and the development banks group had a 0.43 percent share. nepalnews.com pb Oct 29 06