Stock market back to bullish trend

A week after seeing a massive slowdown in its growth, the Nepal Stock Exchange (Nepse) index registered a rise of 7.87 points this week. As a result of the repeated warnings from Nepal Rastra Bank that the bullish trend seen at the Nepse for the past some months was 'unjustified rise', the index had gained only 0.18 points last week.

The share trading at the country's sole secondary market opened at 685.36 points on Sunday and closed at 693.23 points on Thursday, the last day of trading. According to trade analysts, the stock market kept gaining on the expectation that banks would issue bonus shares, increasing the value of shares further.

The weekly turnover, however, decreased this week to Rs 301 million with 645,132 unit shares having been traded through 2,878 transactions, against the last week's figure of Rs 392.4 million through the trading of 591,776 shares. Out of the total 91 listed companies for trading, 79 companies saw their transactions.

The group wise share trading analysis shows that commercial banks' group, which were the losers last week, slightly recovered this week, while the hydropower and insurance groups reported strong growth.

The commercial banks group, which is the largest scrip by volume, recovered this week, as the group's index gained 9.97 points. The group's index went up to 778.09 points from the opening of 768.12 points. The group was the loser last week.

The hydropower group's index rose robustly to end at 1021.96 points from 1010.94 points. The index of the others group increased by six points to touch 818.12 points, up from 812.12 points.

National Hydropower topped all by number of transactions and turnover. The company's 280,590 units of shares were traded on a turnover of Rs 58.4 million. Gorkha Development Bank saw the highest number of transactions, 740 altogether. nepalnews.com ag Aug 05 07

Related news
- Bullish trend ends at NEPSE