Nepse ends week 20.78 points up

- Post Report, Kathmandu

Sep 27, 2015-

Nepal Stock Exchange (Nepse) jumped 20.78 points last week. The market that opened at 1,156.08 points on Tuesday closed at 1,176.86 points.

In the three-trading-day week, the benchmark index escalated by 27.28 points on Wednesday before losing 6.5 on Thursday.

The market, which had plunged on Tuesday on rumours about India-imposed blockade, recovered on Wednesday after the Indian side released petroleum tankers stuck at border points.

Anjan Raj Poudel, managing director of Thrive Brokerage House, said the buying pressure rose after India released the tankers. “However, with a number of investors rushing to book profits has restricted the market from growing further,” he said.

Although the promulgation of the new constitution was supposed to boost the market, the Tarai unrest and subsequent ‘blockade’ imposed by India created doubts among investors, according to analysts. Insurance, commercial banks, development banks, hydropower and finance companies posted gains. The insurance group was the top gainer (up 61.9 points). The hotel sub-index was down 2 points.

The sensitive index that measures the performance of ‘A’ class companies rose 4.92 points to close at 254.46 points.

The market saw transactions worth Rs1.69 billion from the trading of 2,919,703 shares. In the previous week, the turnover was at Rs3.31 billion from the trading of 6,620,140 shares.

Published: 27-09-2015 08:45

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