Continuing its downslide, the domestic capital market ended the week 3.54 points down at 316.68 points.
Last week, the Nepal Stock Exchange (Nepse) index lost points on all four transaction days. Groups representing commercial banks, others, insurance companies, finance companies and development banks shed 3.82, 9.40, 1.74, 0.76 and 1.12 points, respectively. The gainers were hotels and hydropower companies—up 4.07 and 2.50 points, respectively, while manufacturing and trading companies were the non movers.
According to stock analysts, despite low turnover, the capital market is pretty stable at the time. “With the end of the second quarter, there is no more selling pressure,” said Anjan Raj Poudyal, president of the Stock Brokers’ Association of Nepal. “Also, banks and financial institutions are likely to decrease their lending rates.”
He added that a decrease in lending rates amid excess liquidity in banks is good news for the stock market.
Poor performance of the market index was reflected on Nepse’s market capitalisation too. It decreased to Rs 294.44 billion from previous week’s Rs 298.05 billion.
The turnover, however, was somewhat encouraging, as it recorded a growth of 43.42 percent to reach Rs 91.86 million. The figure in previous week was at Rs 64.05 million.
A significant percentage of the turnover was due to the trading of Nepal SBI Bank shares. The bank realised a whooping Rs 27.30 million from the trading of 68,024 shares, topping the chart in terms of both turnover and number of shares traded. Likewise, Guras Life Insurance Company posted the highest number of transaction of 394.
Top five companies in terms of turnover (in Rs million)
Nepal SBI Bank 27.30
Bank of Kathmandu 6.99
Standard Chartered Bank 6.76
Chilime Hydropower Company 5.22
Everest Bank 3.71
Source:Ekantipur
Source:Ekantipur
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