Bear hugs Nepse again

A week after making a remarkable comeback, the Nepal Stock Exchange (Nepse) index again lost 9.17 points to close at 734.87 points on Thursday, the last week of stock trading.

Trade analysts termed the decline in Nepse index as "market correction".

Last week the stock market had made a good recovery following a two-digit decline in Nepse index as Maoists emerged as a likely victor in the 10 April polls.

The total turnover stood at Rs 338.4 million over the week with 1.38 million shares having traded in bourse.

Group-wise trading data showed that all major groups registered losses, with commercial banks being the biggest loser this week. It lost 11.85 points to end at 427.75 points. Similarly, the hydropower sector's index fell by 7.54 points to 1,032.45 points, finance sector dipped by 5.63 points to 959.41 points and development banks' group lost 5.54 points to 971.39 points. The insurance group lost 1.19 points to end at 744.20 points while the hotel group ended at 408.53 points from 410.85 points. The manufacturing group's index marginally went up to 411.11 points. The other groups did not see any change. Its index remained at 817.47 points through the week. nepalnews.com ag Apr 27 08

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